The Miami International Securities Exchange, LLC has filed a proposed rule change with the Securities and Exchange Commission, effective immediately. This change aims to amend the fee schedule by removing transaction fees and rebates for SPIKES options, eliminating the SPIKES Options Market Maker Incentive Program, and deleting certain references to Proprietary Products. The modifications are set to take effect on February 1, 2025. Public comments on the proposal are invited, with a submission deadline of March 12, 2025.
Simple Explanation
The Miami International Securities Exchange changed some rules so people won't pay fees or get rewards when trading a specific type of option called "SPIKES." This change starts on February 1, 2025, and people can send in their thoughts about it until March 12, 2025.