23 Apr 2025
💳MIAX Amends Billing System for Enhanced Member Payment Flexibility
Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 208, MIAX Billing System
Summary
The Miami International Securities Exchange (MIAX) proposes to amend Exchange Rule 208, allowing Members to provide alternative payment instructions for fee collection. This change aims to alleviate operational burdens and introduce flexibility in payment processes while maintaining the ability to revert to standard methods if necessary.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change permits MIAX Members to use alternative payment instructions for fee collection, thus reducing operational burdens associated with payment via a Clearing Member. This flexibility can enhance cash flow and payment management strategies for businesses within the exchange.