On February 7, 2022, Miami International Securities Exchange, LLC (“MIAX”) and MIAX Emerald, LLC (“MIAX Emerald”) (collectively, the “Exchanges”) each filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”),^[1] and Rule 19b-4 thereunder,^[2] a proposed rule change to establish fees for, respectively, the MIAX Complex Top of Market (“cToM”) and the MIAX Emerald cToM market data products.

The proposed rule changes were immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act.^[3] On February 22, 2022, the proposed rule changes were published for comment in the Federal Register and, pursuant to Section 19(b)(3)(C) of the Act,^[4] the Commission: (1) Temporarily suspended the proposed rule changes; and (2) instituted proceedings under Section 19(b)(2)(B) of the Act ^[5] to determine whether to approve or disapprove the proposed rule changes.^[6] On March 30, 2022, the Exchanges withdrew the proposed rule changes (SR-MIAX-2022-10, SR-EMERALD-2022-06).