# 2026-22267: Options Exchange Tweaks Fees in Alphabet Soup of Trade Codes

2026-22267, Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Fees and Rebates for Professional Customer Orders for QCC and cQCC Transactions and Establish a Tiered Fee Structure for Away Market Maker Facilitation of Customer QFOs or cQFOs, is a Federal Register notice from Securities and Exchange Commission published 2026-11-02, effective 2026-10-15; PRIA reads it as touching household money (as of 2026-11-03).

- Canonical: https://policyrisk.com/federal-register/2026-22267
- As of: 2026-11-03
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-22267
- Title: Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Fees and Rebates for Professional Customer Orders for QCC and cQCC Transactions and Establish a Tiered Fee Structure for Away Market Maker Facilitation of Customer QFOs or cQFOs
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 69008
- Published: 2026-11-02
- Effective: 2026-10-15
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-11-03

## In one line

Options Exchange Tweaks Fees in Alphabet Soup of Trade Codes

## Summary

MIAX Sapphire is shaking up its fees and rebates for professional customer orders in QCC and cQCC trades, making some fees lower and adjusting rebates too. They’re also rolling out a new tiered fee system for certain trades involving away market makers, based on monthly activity. These changes kicked in right away on October 15, 2026, so traders should check how this affects their costs and savings.

## Effects PRIA read

- QCC/cQCC Professional Fee Cut to $0.00: benefit, medium. If you submit Professional Customer QCC or cQCC orders, the Exchange reduced the initiating and contra-side fee from $0.12 per contract side to $0.00 per contract side for transactions on both the Electronic Book and the Trading Floor, effective October 15, 2026.
- Rebates for Professional QCC/cQCC Reduced: cost, medium. For Professional Customer electronic QCC and cQCC orders, Electronic Exchange Members' rebates change from ($0.07)/($0.17)/($0.25) per contract (depending on contra-side) to ($0.00)/($0.00)/($0.17) per contract. For Trading Floor Professional Customer QCC and cQCC orders, Floor Broker rebates chang…
- Tiered Fees for Away Market Maker Facilitation: benefit, medium. The Exchange created a tiered 'Away Market Maker Facilitation' fee schedule for Trading Floor QFO or cQFO customer facilitation (instead of the default $0.25 per contract): 0–5% breakup = $0.10; >5–15% = $0.09; >15–25% = $0.08; >25–35% = $0.07; >35–40% = $0.06; >40% = $0.05 per contract. Eligibilit…
- No Floor Broker Rebates for Away MM Facilitation: cost, low. The Exchange specifies that Floor Brokers will not receive rebates for Away Market Maker Facilitation transactions on the Trading Floor (i.e., when an Away Market Maker of the same Member firm facilitates customer QFOs or cQFOs), effective October 15, 2026.

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## Sources
- [2026-22267 on federalregister.gov](https://www.federalregister.gov/documents/2026/11/02/2026-22267/self-regulatory-organizations-miax-sapphire-llc-notice-of-filing-and-immediate-effectiveness-of-a)
- [2026-22267 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-11-02/pdf/2026-22267.pdf)

## Related
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- [Next: 2026-22268, Self-Regulatory Organizations: Long-Term Stock Exchange, Inc.; Notice of Filing…](https://policyrisk.com/federal-register/2026-22268)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-22267 (as of 2026-11-03).