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SEC Greenlights MIAX’s August Launch of New Taker-maker US Options Venue

MIAX has gained approval from the US Securities and Exchange for its new US options electronic exchange and physical trading floor, MIAX Sapphire. Set to launch on August 12, the new electronic exchange will operate using a taker-maker pricing and price-time allocation model. The physical trading floor is expected to go live in 2025 and will be the first national securities exchange to be established in Miami, Florida, according to a story in The Trade news. First announced in October last year, the new trading venues will include a next generation trading floor, a separate office space for internal employees and market participants, and broadcast media space.

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