MIAX Options Boosts Non-Transaction Fees After Years
Published Date: 1/16/2026
Notice
Summary
MIAX Options Exchange is updating its fee schedule to raise some non-transaction fees that haven’t changed in years. This affects traders and firms using MIAX’s services, aligning fees with other exchanges starting right away. If you use MIAX, expect some fees to go up, helping the exchange keep its systems strong and reliable.
Analyzed Economic Effects
8 provisions identified: 0 benefits, 7 costs, 1 mixed.
EEM Trading Permit Fee Raised
If you hold an Electronic Exchange Member (EEM) trading permit on MIAX, the monthly fee increases from $1,500 to $2,000 starting January 1, 2026. This means you will pay $500 more each month for each EEM trading permit.
Market Maker Permit Tier Fees Up
MIAX raises Market Maker monthly Trading Permit tiers effective January 1, 2026: fees change from $7,000/$12,000/$17,000/$22,000 to $9,500/$16,000/$23,000/$29,500 depending on assigned classes or ADV. The alternative lower fee for certain high-tier Market Makers increases from $15,500 to $16,000 per month.
Connectivity Fees Increased
MIAX raises network connectivity fees effective January 1, 2026: 1Gb to primary/secondary facility from $1,400 to $1,500; 1Gb to disaster recovery from $550 to $650; 10Gb to disaster recovery from $2,750 to $3,500; and 10Gb ultra-low latency to primary/secondary from $13,500 to $15,000. These changes apply to Members and non-Members.
FIX Port Monthly Fees Jump
MIAX increases FIX Port monthly fees effective January 1, 2026: first FIX Port from $550 to $700, second–fifth from $350 to $450 each, and sixth-or-more from $150 to $200 each. Each port change raises your monthly bill if you use FIX connections to send orders.
Full Service MEI Port Fee Changes
Effective January 1, 2026, MIAX raises Full Service MEI Port monthly tiers for Market Makers from $5,000/$10,000/$14,000/$17,500/$20,500 to $6,500/$13,500/$19,000/$23,500/$27,500 based on class assignments or ADV. MIAX also decreases an alternative lower Full Service MEI Port fee for certain volume thresholds from $14,500 to $13,500 per month.
Limited Service MEI Additional Port Fee Up
MIAX increases the monthly fee for each additional Limited Service MEI Port from $275 to $350 per matching engine effective January 1, 2026. Market Makers receive four free Limited Service MEI Ports per matching engine; extra ports now cost $75 more per month each.
Purge Port Fee Increased
Effective January 1, 2026, MIAX raises the monthly Purge Port fee from $300 to $400 per matching engine. Market Makers using Purge Ports will pay $100 more each month per matching engine.
FXD Port Monthly Fee Rise
MIAX increases the monthly FIX Drop Copy (FXD) Port fee from $500 to $675, effective January 1, 2026. Any Member credentialed to use an FXD Port in production will pay $175 more per month for each FXD Port.
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Key Dates
Department and Agencies
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MIAX Emerald is updating its fee schedule to raise some non-transaction fees that haven’t changed in years, making them more in line with other options exchanges. This affects traders and firms using the exchange’s services, who might see some fees go up starting immediately. The goal? Keep the exchange competitive while covering costs fairly.
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