3 Sep 2025
💰MIAX Sapphire Proposes Accommodation Payment Following Operational Error
Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing of a Proposed Rule Change To Amend Exchange Rule 527
Summary
The Securities and Exchange Commission has published notice regarding MIAX Sapphire’s proposal to amend Exchange Rule 527, offering a one-time accommodation payment to members affected by an operational error on June 3, 2025. This initiative aims to mitigate financial losses incurred by members during the incident, ensuring fair and equitable treatment within the trading environment.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change facilitates a one-time accommodation payment for members affected by an operational error, allowing businesses to offset trading losses. This potential reimbursement can significantly impact businesses reliant on exchange operations, highlighting compliance with regulatory requirements and risk management.