MIAX PEARL, LLC has submitted a proposal to the Securities and Exchange Commission to change its fee schedule for trading equity securities on its exchange platform. The proposed changes aim to introduce several fees, including connectivity fees, port fees, technical support request fees, and historical market data fees. The exchange argues that these fees are necessary to recover some of the costs associated with providing and maintaining their trading infrastructure and to ensure fair and equitable access for all users. The SEC is seeking comments on this proposal from interested parties to ensure compliance with relevant regulatory standards.
Simple Explanation
MIAX PEARL wants to start charging new fees for using their stock trading system to help pay for the upkeep of their technology and make sure everyone can use it fairly. They're asking people what they think about these fees.