The Securities and Exchange Commission (SEC) has announced a new rule proposal from MIAX Sapphire, LLC regarding fees for connectivity and port services. MIAX Sapphire plans to implement fees for network connections and ports, including a waiver period to incentivize participation, after which full fees will apply. The proposed fees aim to cover the costs of providing these services, with some services offered at a loss to attract market participants. The SEC is inviting public comments on these proposed changes.
Simple Explanation
MIAX Sapphire wants to start charging fees for using their computer networks, like the way roads have tolls, but they will let people try them for free for a little while to see if they like them. The SEC is asking everyone what they think about these new plans.