Onyx Trading Platform Access & Preferred Rate Program
Onyx Direct Access Participants
All Market Participants with a direct connection to the Onyx Trading Platform must submit an application and be approved by the Exchange. Onyx Direct Access Participants are automatically enrolled in the Preferred Rate Program to receive preferential rates on their proprietary trading.
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 on their proprietary trades. The legacy MGEX Trading Permit Program is being rebranded to the Preferred Rate Program. Rates will be effective on July 1, 2025.
Onyx Direct Access Participants
The Exchange must approve all Market Participants seeking a direct connection to the Onyx Trading Platform. 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.
Upon receipt of your Application, MIAX will contact you to coordinate an introductory meeting that will lay the groundwork for onboarding to the selected program.
Onyx Direct Access Participant Forms:
Onyx Access Rules
Please review the MIAX Futures Rules governing Onyx Direct Access Participants here.
MIAX Futures Exchange will contact you to arrange an introductory meeting to discuss your firm’s goals, answer any questions about the application and onboarding process, and schedule an initial Technical Onboarding meeting.
At the Technical Onboarding meeting, your firm will be introduced to the MIAX Futures Onboarding team (which includes the Trading Operations team) that will guide you through the entire onboarding process. Subject matter experts will be available to discuss network connectivity, application interfaces, system functionality and operational issues.
The Trading Operations team will coordinate follow-up meetings and testing with your appropriate subject matter experts as necessary until activation in the live trading environment.
Preferred Rate Program (“PRP”)
Onyx Direct Access Participants are automatically enrolled in the Preferred Rate Program to receive preferential rates 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.
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 the discounted product fees, see the Fee Schedule. Discounted product fees will be effective July 1, 2025. 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, application and monthly fees are waived through December 31, 2025.