Regulatory Alert, Trading Alert
MIAX Sapphire
December 26, 2025 | 03:43 PM
Changes to the Expanded MIAX Pearl Order Monitor and MIAX Sapphire Order Monitor Settings for Certain Symbols Beginning Friday, January 2, 2026, Through Tuesday, March 31, 2026
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 The changes will begin on Friday, January 2, 2026, and remain in effect through Tuesday, March 31, 2026, unless withdrawn by the Exchanges before that time.
For additional information on the expanded bid/ask differentials, please refer to the following Regulatory Circulars: