Onyx Trading Platform Access & Preferred Rate Program
Onyx Direct Access Participants
All Market Participants with a direct connection to the Onyx Trading Platform for trading MIAX Futures products must submit an application and be approved by the Exchange prior to trading. Onyx Direct Access Participants are automatically enrolled in the Preferred Rate Program to receive preferential rates on their proprietary trading when applicable.
Preferred Rate Program
Market Participants connecting to the Onyx Trading Platform via an Exchange-approved ISV may elect to apply for the Preferred Rate Program to receive preferential rates (when applicable) on their proprietary trades. The legacy MGEX Trading Permit Program has been rebranded to the Preferred Rate Program.
Onyx Direct Access Participants
The Exchange must approve all Market Participants seeking a direct connection to the Onyx Trading Platform for trading MIAX Futures products. Only Market Participants interested in obtaining Onyx Direct Access Participant status should take the following application and onboarding steps:
To inquire about becoming an Onyx Direct Access Participant, email the MIAX Membership Department with your firm’s name, contact information and what information you are seeking.
To initiate the Onyx Direct Access Participant onboarding process, please complete and submit the Onyx Direct Access Participant Application to the MIAX Membership Department.
Firms seeking to add an additional product class to their existing ODAP status must submit the Onyx Direct Access Supplemental Application to be approved as an ODAP for the new product class (e.g. Firms approved as an ODAP for Commodities must apply and be approved as an ODAP for Financials in order to trade Financials products over a direct connection).
Onyx Direct Access Participant Forms:
- Onyx Direct Access Participant Application
- Onyx Direct Access Supplemental Application
- Direct Access Participant Agreement
Onyx Access Rules
Please review the MIAX Futures Rules governing Onyx Direct Access Participants here.
Preferred Rate Program (“PRP”)
Onyx Direct Access Participants are automatically enrolled in the Preferred Rate Program to receive preferential rates (when applicable) on their proprietary trades. Market Participants who connect to the Onyx Trading Platform via an Exchange-approved ISV may also receive this benefit if approved by the Exchange upon submission of an Application to be approved by the Exchange.
To inquire about participating in the Preferred Rate Program, email the Membership Department with your firm’s name, contact information, and what information you are seeking.
To initiate the PRP application process, download and complete the Application form linked below. Submit applications via email to the Membership Department.
Firms seeking to add an additional product class to their existing PRP Participant status must submit the PRP Supplemental Application to be approved as a PRP for the new product class (e.g. Firms approved as a PRP Participant for Commodities must apply and be approved as a PRP Participant for Financials to receive PRP rates for Financials products also).
Preferred Rate Program Forms:
Preferred Rate Program Rules:
Please review the MIAX Futures Rules governing the Preferred Rate Program here.
The Preferred Rate Program fees are as follows. To review product fees, see the Fee Schedules. Note that the PRP is replacing the legacy MGEX Trading Permit Program.
| Preferred Rate Program Fees* | |
|---|---|
| Application | $300 |
| Monthly Fees | $300 |
* For legacy MGEX Trading Permit Holders, application and monthly fees are waived through December 31, 2026. For all other PRP Participants applying for the Financial Futures PRP,, application and monthly fees are waived through December 31, 2026.