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Trading Alert, Regulatory Alert

MIAX Emerald

January 16, 2026 | 12:10 PM

Member Guidance for Message and Packet Activity Towards MIAX Exchanges

Regarding message and packet activity for MIAX Options, MIAX Pearl Options, MIAX Emerald Options, and MIAX Sapphire Options, Members are prohibited from behaviors that have a negative impact on the normal operation or designed performance profile of MIAX trading systems. Members are specifically prohibited from using SesM-TCP test messages, SesM-TCP Heartbeat messages of more than 50 per second per port, corrupting packets that result in FCS errors, and/or intentionally splitting application layer messages into two or more packets when interacting with the MIAX trading systems. 

Please refer to the follow Regulatory Circulars for guidance on accessing Exchange systems: 

For questions regarding transmission sent to MIAX, contact Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302.

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