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MIAX - PEARL Exchange Fees

Remove Liquidity 1 Add Liquidity 2
All Stocks >= $1.00, Displayed USD 0.003 USD (0.0016)
All Stocks >= $1.00, Non-Displayed USD 0.003 USD (0.002)
Stocks < $1.00, Displayed, Non-Displayed Trade Value * 0.0020 Trade Value * (0.0015)
All Stocks >= $1.00, Displayed, Retail Order USD 0.003 USD (0.0037)
All Stocks >= $1.00, Non-Displayed, Retail Order USD 0.003 USD (0.002)
All Stocks >= $1.00, Non-Displayed, Mid-Point Peg USD 0.003 USD (0.002)
All Stocks < $1.00, Non-Displayed, Mid-Point Peg Trade Value * 0.0020 Trade Value * (0.0015)
All Stocks < $1.00, Displayed, Retail Order Trade Value * 0.0020 Trade Value * (0.0015)
All Stocks < $1.00, Non-Displayed, Retail Order Trade Value * 0.0020 Trade Value * (0.0015)
Routed Orders > $1.00 USD 0.0030 * Quantity USD 0.0030 * Quantity
Routed Orders < $1.00 USD 0.0030 * Trade Value USD 0.0030 * Trade Value

Notes:

  • Rebates are in parentheses.
  1. Orders that are immediately executed against an existing bid or offer on an exchange's or ECN's order book.
  2. Adding an order to an exchange or ECN's order book before being executed.