MIAX Pearl® Equities Exchange Rule Filings
As a registered national securities exchange, MIAX Pearl is required to submit to the SEC, pursuant to Section 19 of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 19b-4 thereunder, proposed rule changes. MIAX Pearl is required to post its rule filings on its website within two business days after submission. Rule filings are not effective until approved by the SEC, with the exception of certain types of rule filings that may take effect upon filing with the SEC if they meet the conditions specified under Section 19 of the Exchange Act and Rule 19b-4 thereunder. MIAX Pearl will post below pending rule filings submitted by the Exchange, followed by rule changes that have been approved by the SEC or became immediately effective pursuant to the Exchange Act.
SR-Pearl-2025-53
Effective / Approved
Amend the MIAX Pearl Equities Fee Schedule to adopt a new Market Quoting Program.
December 31, 2025
SR-Pearl-2025-52
Effective / Approved
Amend the MIAX Pearl Options Fee Schedule to extend the temporary discount program for the Open-Close Report until June 30, 2026.
December 31, 2025
SR-Pearl-2025-51
Effective / Approved
Amend the MIAX Pearl Options Fee Schedule to amend various Non-Transaction Fees.
December 31, 2025
SR-PEARL-2025-54
Effective / Approved
Amend the MIAX Pearl Options Fee Schedule to adopt a new methodology for assessment and collection of ORF for transactions that occur on the Exchange.
December 29, 2025
SR-PEARL-2025-50
Pending
Amend MIAX Pearl Equities Exchange Rule 2614, Orders and Order Execution and Rule 2617, Order Execution and Routing, to allow the Post Only order instruction to be applied to orders in securities priced below $1.00 per share
December 10, 2025
SR-PEARL-2025-49
Effective / Approved
Amend Exchange Rule 402, Criteria for Underlying Securities, to list and trade options on Commodity-Based Trust Shares.
December 04, 2025
SR-PEARL-2025-48
Effective / Approved
Amend the MIAX Pearl Options Fee Schedule to amend the exchange grouping of options exchanges within the routing fee table.
December 01, 2025
SR-PEARL-2025-47
Effective / Approved
Amend Rule 517A, Aggregate Risk Manager for EEMs ("ARM-E") and Rule 517B, Aggregate Risk Manager for Market Makers ("ARM-M"), to adopt a new Origin Multiplier to be used when calculating EEM Trade Percentage and MM Trade Percentage.
November 20, 2025