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Fee Change Alert

MIAX Pearl Equities

April 30, 2024 | 01:34 PM

MIAX Pearl Equities Exchange - May 1, 2024 Fee Changes

Effective May 1, 2024, pending filing with the SEC, MIAX Pearl Equities will amend the Fee Schedule as follows:

  1. Exclusion of Additional Trading Days from Tier Programs
    1. Beginning May 1, 2024, MIAX Pearl Equities will exclude the following trading days when calculating firm performance for all Tier programs:
      1. Any trading day MSCI Equities Indexes are rebalanced
      2. Any trading day S&P 400, S&P 500, and S&P 600 Indexes are rebalanced
    2. This change will apply to all existing Tier Programs:
      1. NBBO Setter Plus Program
      2. Remove Volume Tier Program
      3. Midpoint Peg Order Adding Liquidity at Midpoint Volume Tier Program
    3. Trading days currently excluded when calculating firm performance remain the same.
    4. All other criteria and rebates for the Tier Programs remain the same.
  2. Updated list of Market Quality Securities qualifying for the NBBO Setter Plus Program
    1. The updated Market Quality Securities list, effective May 1, 2024, is posted on the MIAX website
    2. All other criteria for the NBBO Setter Plus Program remain the same
    3. All rebates associated with the NBBO Setter Plus Program remain the same
    4. Rebates for this program are applicable to the following Fee Codes:
      1. Liquidity Code AA, “Adds Liquidity, Displayed Order (Tape A)”
      2. Liquidity Code AB, “Adds Liquidity, Displayed Order (Tape B)”
      3. Liquidity Code AC, “Adds Liquidity, Displayed Order (Tape C)”
  3. Updated Top of Market (“ToM”) Data Feed Fees
    1. The Non-Display Usage by Trading Platform fee for the ToM data feed will be reduced to $1000/month.
    2. All other market data fees previously announced in the March 15, 2024 Alert remain the same.

For full details, please review the updated May 1, 2024 MIAX Pearl Equities Fee Schedule when posted on the MIAX website at MIAX Pearl Equities Exchange Fees.

To learn more about MIAX Pearl Equities please contact Sales@miaxglobal.com, (609) 897-8177 or visit miaxglobal.com.

For further information, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.