The Miami International Securities Exchange LLC submitted a proposal to amend its fee schedule, specifically to increase the network connectivity fees for its 10-gigabit ultra-low latency fiber connections from $9,300 to $10,000 per month for both member and non-member users. This increase is intended to cover the exchange's growing costs and ensure the fees are fair and reasonable, reflecting the resources consumed by users of the higher bandwidth connections. The exchange argues that the proposed fees comply with U.S. securities law, are equitably allocated, and do not impose an unfair burden on competition.
Simple Explanation
The Miami International Securities Exchange wants to increase its monthly charge for using fast internet connections because their costs have gone up, but they didn't clearly explain why the price hike is necessary or how it will help users. They also didn't ask people what they think about this change, so it may seem like they made the decision without enough input from others.