U.S. Equities

MIAX Pearl Equities Exchange – December 1, 2025 Updated List of Market Quality Securities for the NBBO Setter Plus Program
 
Effective December 1, 2025, MIAX Pearl Equities will amend its standard rates and programs as follows:

1. Updated list of Market Quality Securities qualifying for the "NBBO Setter Plus Program"
   1. The updated Market Quality Securities list, effective December 1, 2025, is posted on the MIAX website.
   2. All other criteria for the NBBO Setter Plus Program remain the same.
   3. All rebates associated with the NBBO Setter Plus Program remain the same.
   4. Rebates for this program are applicable to the following Fee Codes:
      1. Liquidity Code AA, “Adds Liquidity, Displayed Order (Tape A)”
      2. Liquidity Code AB, “Adds Liquidity, Displayed Order (Tape B)”
      3. Liquidity Code AC, “Adds Liquidity, Displayed Order (Tape C)”
      4. Liquidity Code EA, “Early Trading Session, Adds Liquidity, Displayed Order (Tape A)”
      5. Liquidity Code EB, “Early Trading Session, Adds Liquidity, Displayed Order (Tape B)”
      6. Liquidity Code EC, “Early Trading Session, Adds Liquidity, Displayed Order (Tape C)”
      7. Liquidity Code FA, “Late Trading Session, Adds Liquidity, Displayed Order (Tape A)”
      8. Liquidity Code FB, “Late Trading Session, Adds Liquidity, Displayed Order (Tape B)”
      9. Liquidity Code FC, “Late Trading Session, Adds Liquidity, Displayed Order (Tape C)”

 For full details, please review the MIAX Pearl Equities Fee Schedule posted on the MIAX website at MIAX Pearl Equities Exchange Fees.
 
To learn more about MIAX Pearl Equities please contact Sales@miaxglobal.com, (609) 897-8177 or visit miaxglobal.com.
 
For further information, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.