Nasdaq PHLX Rolls Out New Trading Port and Fees
Published Date: 2/3/2025
Notice
Summary
Nasdaq PHLX is rolling out a new FIX Drop Port, a tech tool that helps traders connect faster and smoother. This change affects anyone using Nasdaq PHLX’s trading systems and comes with new fees starting immediately. It matches similar setups on other Nasdaq exchanges, making life easier for traders and their tech teams.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
New FIX Drop Port Offered
Nasdaq PHLX is adopting a new FIX Drop Port, a connection method for traders to link to PHLX's trading systems. The change was filed on January 15, 2025 and is part of a proposed rule change now published in the Federal Register.
Related Fees Proposed; Immediate Effect
The proposed rule change includes related fees for the new FIX Drop Port and the Exchange designated the proposal for immediate effectiveness when it was filed on January 15, 2025. Interested persons may submit comments on the filing through February 24, 2025.
Alignment With Other Nasdaq Exchanges
The new FIX Drop Port on PHLX is identical to the FIX Drop Port already used by Nasdaq BX, NOM, ISE, GEMX, and MRX. This makes PHLX's connectivity consistent with those other Nasdaq options platforms.
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