IEX adopts new transaction and routing fees for options members

The Securities and Exchange Commission published a notice (Release No. 34-106741; File No. SR-IEX-2026-41) that Investors Exchange LLC filed a proposed rule change on Oct. 14, 2026. Pursuant to IEX Rules 15.110(a) and (c), the amendment to the Exchange's Options Fee Schedule is effective upon filing.

The amendment revises the Options Fee Schedule for Options Members by adopting transaction fees, routing fees, and a new "Rounding" paragraph in the Preface. The paragraph states that the Exchange will sum a member's monthly volume, apply the applicable rate, and round any fractional cent up to the nearest whole cent for invoicing purposes.

The Definitions section is expanded with several new terms, including "Away Market Maker," "Broker-Dealer," "Exchange System," "Firm," "Non-Penny," "Non-Priority Customer," "Penny," "Priority Customer," "Professional," and "Step Up Mechanism." The Exchange proposes to list these definitions alphabetically alongside the existing terms "Clearing Member," "Market Maker," "MPID," and "Order Entry Firms."

Under the proposed maker-taker model, IEX Options will credit members that provide liquidity and charge fees to those that remove liquidity. The rates vary according to whether the options class participates in the Penny Interval Program ("Penny Classes") or not ("Non-Penny Classes"), and whether the transaction adds or removes liquidity from the IEX Options book. The notice does not disclose specific fee amounts.

The filing supersedes the Initial Transaction Fee Filing (SR-IEX-2026-38) submitted on Sep. 30, 2026, without altering the fees and credits previously proposed, but it adds the supporting language and definitions described above. All changes become effective upon the filing date of Oct. 14, 2026.