Effective December 1, 2025, pending filing with the SEC, MIAX Options, MIAX Pearl Options, MIAX Emerald Options, and MIAX Sapphire Options will amend the fee schedules as follows:
- MIAX Options, MIAX Pearl Options, MIAX Emerald Options, and MIAX Sapphire Options Exchanges
- On each Exchange, under ‘Fees for Customer Orders Routed to Other Options Exchanges’, MEMX will be in the following category – ‘Routed, Public Customer that is not a Priority Customer in Non-Penny Program’ with a $1.40 fee
- MIAX Options, MIAX Emerald Options, and MIAX Sapphire Options Exchanges
- On each Exchange, Members and non-Members will not be assessed Network Connectivity Fees for up to two (2) 1 Gb connections as long as the 1 Gb connection is used solely to route the stock portion of a Stock-Option Order to an away Trading Center for execution on behalf of the Exchanges
- MIAX Emerald Options Exchange
- For Members in Priority Customer Tier 4 and who has achieved at least 0.90% of Total Market Maker sides volume and at least 0.60% of Priority Customer, Maker sides volume, both thresholds as a percentage of OCC Customer volume (CTCV), Priority Customer Simple Orders that are providing liquidity and trading against an affiliated Market Maker, the rebates will be ($0.49) for Penny classes and ($0.95) for non-Penny classes
Attached are highlighted summaries of the December 2025 fee changes for the MIAX Options Exchange, MIAX Pearl Options Exchange, MIAX Emerald Options, and MIAX Sapphire Options Exchange.
