On January 22, 2021, MIAX Emerald, an exchange, filed a proposal with the Securities and Exchange Commission (SEC) to implement new monthly Trading Permit fees for its members. This rule change proposes fees based on whether the member is a Market Maker or an Electronic Exchange Member, with different charges depending on the volume of activity and the number of option classes a member is involved in. MIAX Emerald believes the proposed fees will cover the costs of providing access to the exchange while maintaining fair competition and have structured them to reflect the exchange's expenses for providing these services. The SEC is seeking public comments on this proposal before finalizing it.
Simple Explanation
MIAX Emerald, an exchange where people trade options, wants to start charging its members a monthly fee to help pay for the costs of using the exchange. They're asking for people's thoughts on this new plan before it becomes official.