💰New MIAX Sapphire Fees for Accessing Testing Systems Environment
Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX Sapphire Fee Schedule To Adopt Fees To Access the Testing Systems Environment
Summary
MIAX Sapphire proposes an amendment to its fee schedule to establish a monthly fee for market participants accessing its testing systems environment via a dedicated cross connection. The change addresses differing access methods, showing that a VPN remains free while introducing a new cost option for enhanced access. All users will maintain functional parity in testing capabilities regardless of the access method chosen.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The content outlines a proposed rule change by MIAX Sapphire to implement a new fee of $1,000 per month for access to its testing systems environment via a dedicated cross connection. This impacts business owners and executives by imposing a new operational cost for firms that choose this method over the free VPN option.