MIAX Sapphire® Options Exchange Rule Filings
As a registered national securities exchange, MIAX Sapphire 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 Sapphire 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 Sapphire 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-SAPPHIRE-2026-38
Effective / Approved
Amend the Fee Schedule to clarify that the Exchange will exclude options volume executed during extended trading hours from the Exchanges’ volume calculations that determine applicable thresholds and tiers for transactions and non-transactional fees, rebates, and discounts each month.
October 30, 2026
SR-SAPPHIRE-2026-37
Effective / Approved
Amend the Fee Schedule to 1) increase the per contract fee to Floor Market Makers for transactions in non-penny classes, and 2) increase the per contract Floor Broker Breakup Credit for transactions in non-penny classes.
October 27, 2026
SR-SAPPHIRE-2026-36
Effective / Approved
Amend the Fee Schedule to: 1) amend the initiating and contra fees applicable to certain QCC and cQCC transactions; 2) reduce the rebates applicable to certain QCC and cQCC transactions; and 3) establish a tiered fee structure for certain away market maker facilitations.
October 15, 2026
SR-SAPPHIRE-2026-35
Withdrawn
This proposal was withdrawn on October 27, 2026 and replaced with SR-SAPPHIRE-2026-37.
August 31, 2026