MIAX Sapphire, LLC has submitted a rule change proposal to the Securities and Exchange Commission (SEC) regarding new fee categories for its proprietary market data feeds. These feeds include MIAX Sapphire Top of Market, Complex Top of Market, and Liquidity Feed. The proposal is intended to take effect immediately, and the SEC is seeking public comments by March 25, 2025. This proposed change is available for review on both the Exchange's and the SEC's websites.
Simple Explanation
MIAX Sapphire wants to change how much it charges for certain information feeds about stock trades, and it asks people to comment on these changes if they want. They have told everyone about it, but to really understand what is changing, one would need to check their website or the SEC’s website.