This document from the Securities and Exchange Commission outlines a proposed rule change by MIAX PEARL, LLC regarding its fee schedule for network connectivity. MIAX PEARL plans to raise the monthly network connectivity fees for its 10 gigabit ultra-low latency (ULL) connections from $9,300 to $10,000 for both members and non-members. The Exchange argues that these fees are necessary to cover the costs of maintaining its network infrastructure and that the change is reasonable and fair. The SEC is seeking comments on this proposal to ensure transparency and fairness in the setting of fees.
Simple Explanation
MIAX PEARL wants to charge people more money each month to use their special fast internet connections. They say these new fees will help them keep their internet working well, but some people are worried it might be too expensive for smaller businesses, and the rules are hard to understand.