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Regulatory Alert, Trading Alert

MIAX Sapphire

September 25, 2025 | 01:24 PM

Changes to the Expanded MIAX Pearl Order Monitor and MIAX Sapphire Order Monitor Settings for Certain Symbols Beginning Wednesday, October 1, 2025, Through Wednesday, December 31, 2025

MIAX Pearl Options and MIAX Sapphire Options will change the MIAX Pearl Order Monitor and MIAX Sapphire Order Monitor maximum valid bid/ask differentials for certain symbols traded on the Exchanges. The changes will begin on Wednesday, October 1, 2025, and remain in effect through Wednesday, December 31, 2025, unless withdrawn by the Exchanges before that time.

For additional information on the expanded bid/ask differentials, please refer to the following Regulatory Circulars:

Direct questions to the Regulatory Department at Regulatory@miaxglobal.com or (609) 897-7309.