MIAX Raises Bar for Priority Customer Rebate Rewards
Published Date: 8/17/2026
Notice
Summary
Miami International Securities Exchange (MIAX) is changing the rules for its Priority Customer Rebate Program by adjusting the volume levels needed to earn rebates. This means traders who meet the new volume targets can get better rewards starting right away. If you trade a lot on MIAX, these changes could save you money or boost your earnings from rebates.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Lower Tier 4 Volume Target
MIAX lowered the entry point for PCRP tier 4 from above 2.00% to above 1.90% of national customer volume in multiply-listed options, and adjusted tier 3 to be above 1.50% to 1.90%. These changes take effect August 1, 2026 and mean Members who meet the new tier 4 volume target can earn the higher tier 4 rebates when they submit Priority Customer Orders.
Clarify cPRIME Tier 4-or-Higher Credit
MIAX will edit footnote “**” to state that Members that achieve tier 4 or higher (including tier 5) may qualify for the $0.12 per contract cPRIME Agency Order credit. This non-substantive clarification is intended to ensure Members in tier 5 are eligible for the same $0.12 per contract credit under the cPRIME Agency Order Break-up Table.
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Previous: 2026-16691, Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend its Fee Schedule
Cboe BZX Exchange is updating its fee schedule starting now! They’re removing an old discount tier, adding a new one just for single MPID investors, and dropping expired liquidity provision rates. Traders using BZX Equities should check these changes since they could affect their fees immediately.
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