Pearl Updates Options Regulatory Fee to 2.4 Cents
Published Date: 7/16/2026
Notice
Summary
Starting July 1, 2026, MIAX Pearl is changing its Options Regulatory Fee to $0.0240 per contract side. This update affects traders using the MIAX Pearl options exchange and makes the fee rules clearer. If you trade options here, expect a small fee tweak that’s already in effect!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
ORF revenue cap and semiannual monitoring
The Exchange will monitor ORF revenue and other regulatory fees at least semi-annually and aims to ensure ORF revenue, combined with other regulatory fees and fines, does not exceed 80% of the Exchange's regulatory costs. If revenues materially exceed or are insufficient to cover regulatory costs, the Exchange will file fee changes with the SEC and notify Members in advance of any adjustment.
ORF set to $0.0240 per contract
Starting July 1, 2026, MIAX Pearl sets the Options Regulatory Fee (ORF) at $0.0240 per contract side. If you trade options on MIAX Pearl, expect this per-contract fee to appear on customer-range contracts that clear in the OCC customer range.
ORF charged on OCC customer-range contracts
The ORF will be assessed for options transactions that clear in the "customer" range at the Options Clearing Corporation (OCC) and will be collected from Members and non-members for customer transactions executed on the Exchange. The Exchange will bill ORF according to the clearing instruction on the execution (trade date) and will account for CMTA adjustments that are provided to the Exchange the same day as the trade, but will not take into account CMTA changes made later at OCC.
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Previous / Next Documents
Previous: 2026-14263, Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Exchange's Options Regulatory Fee (ORF)
Starting July 1, 2026, the Miami International Securities Exchange (MIAX) is updating its Options Regulatory Fee (ORF) to $0.0170 per contract side. This change affects traders using MIAX’s options platform by slightly adjusting the fees they pay. The update also makes the fee rules clearer, so everyone knows exactly how the charges work.
Next: 2026-14265, Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Definition of Professional To Require Monthly Reviews of Orders
Cboe C2 Exchange is changing the rules for traders called 'Professionals' who place lots of orders. Now, these traders must review their orders every month to keep things fair and clear. This change starts right away and mainly affects high-volume traders, helping the Exchange keep a close eye on big order activity without extra costs.