The Miami International Securities Exchange, LLC (MIAX) filed a proposed rule with the Securities and Exchange Commission (SEC) to introduce a new fee structure for accessing its testing systems environment through a dedicated cross connection. Starting December 1, 2024, MIAX plans to charge $1,000 per month for this access, regardless of whether users choose a 1Gb or 10Gb connection. While VPN access to the testing system remains free, the dedicated connection offers an optional, premium way to connect for users who may find it more suitable for their needs. The proposed fee aligns with or is lower than similar charges imposed by other exchanges for comparable services.
Simple Explanation
The Miami International Securities Exchange wants to charge $1,000 each month for a special way to connect to their practice area from December 2024, kind of like offering a VIP lane to test things out, which costs extra but is more like what other places charge too.