U.S. Options

MIAX Pearl Options has amended Rule 517A, Aggregate Risk Manager for EEMs (“ARM-E”) and Rule 517B, Aggregate Risk Manager for MMs (“ARM-M”) to adopt an Origin Multiplier for use when calculating the Allowable Engagement Percentage. The implementation date for the Origin Multiplier is Friday, December 5, 2025.

Please refer to the following Regulatory Circular for more details:

• MIAX Pearl Options RC 2025-100 

For additional information on the Origin Multiplier, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.

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