MIAX files immediate amendment to priority rebate fee schedule

On September 30, 2026 Miami International Securities Exchange, LLC (MIAX) filed a proposed rule change with the Securities and Exchange Commission, identified as Release No. 34-106654; File No. SR-MIAX-2026-40. The filing, published in the Federal Register on October 13, 2026 (Vol. 91, No. 199, pp. 65806-65809), seeks to amend the MIAX Options Exchange Fee Schedule by revising the Priority Customer Rebate Program (PCRP) table used for certain transactions in Complex Orders.

The amendment targets Section (1)(a)(iii) of the Fee Schedule and modifies the calculation that determines alternative rebates for Complex Orders - orders that involve the concurrent purchase and/or sale of two or more different options in the same underlying security, or stock-option orders with conforming or non-conforming ratios, as defined in the filing.

Under the existing PCRP, members receive a per-contract rebate based on monthly priority-customer volume thresholds, excluding order types such as Qualified Contingent Cross (QCC), Complex Qualified Contingent Cross (cQCC), Customer Cross (C2C), Complex Customer Cross (cC2C), PRIME, and Complex PRIME (cPRIME) orders. The proposed rule changes the method for calculating alternative rebates for non-paired Complex Order volume, using the member's priority-customer total monthly non-paired Complex Order volume as a percent of its overall priority-customer monthly volume.

The change is designated for immediate effectiveness upon filing, and the Commission is soliciting comments from interested persons. The text of the proposed rule change and related statements are available on MIAX's website at https://www.miaxglobal.com/markets/us-options/miax-options/rule-filings and at the exchange's principal office.

If adopted, the amendment will affect all MIAX members, affiliates, and priority customers who trade complex orders in multiply-listed option classes, altering the rebate amounts they receive under the PCRP.