MIAX Sapphire, LLC, a self-regulatory organization, has proposed changes to its fee schedule for three specific market data feeds: MIAX Sapphire Top of Market, MIAX Sapphire Complex Top of Market, and MIAX Sapphire Liquidity Feed. These fees will initially be waived for six months to encourage market participation. The proposed fees are structured to cover the costs associated with providing these data feeds and are intended to be competitive with fees charged by other exchanges for similar services. The proposal maintains that the fees are fair, reasonable, and non-discriminatory, applying consistently to all subscribers based on their use and distribution of the data.
Simple Explanation
MIAX Sapphire is planning to charge new fees for some special financial data services, but for now, they're letting people use them for free for six months to encourage more people to join in and use them. The idea is to make sure these fees are fair and similar to what other places charge, but they aren't very clear about how exactly they came up with these numbers or what might change in the future.