MIAX Sapphire Implements Immediate Fee Schedule Changes to Routing Table
Members of MIAX Sapphire must follow the revised routing fees, effective July 31 2026.
On July 31, 2026, MIAX Sapphire, LLC filed a proposed rule change with the Securities and Exchange Commission under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4. The filing, identified as Release No. 34-106105 and File No. SR-SAPPHIRE-2026-30, amends the MIAX Sapphire Options Exchange Fee Schedule and is effective immediately, as noted in the August 12, 2026 notice (FR Doc No. 2026-16697).
The amendment adds MX2 LLC and Investors Exchange LLC to the exchange groupings in the routing fee table in anticipation of the launch of MX2 Options and IEX Options. It also updates the name of "Nasdaq BX Options" to "Nasdaq Texas Options" and revises the placement of MIAX Pearl, removing it from the $1.25 non-penny tier and adding it to the $1.40 tier to reflect recent fee schedule changes at MIAX Pearl.
The proposal does not alter the fee amounts themselves; it merely expands routing options for members, clarifies market identifiers, and aligns the fee schedule with the current fee structures of away markets. Members will continue to have discretion over where to route applicable orders.
The full text of the proposed rule change is available on the Exchange's website at https://www.miaxglobal.com/markets/us-options/miax-sapphire/rule-filings and at the Exchange's principal office. The Commission is publishing the notice to solicit comments from interested persons.