Nasdaq Tweaks Trading Rules for Smoother Options Deals
Published Date: 2/7/2025
Notice
Summary
Nasdaq BX just updated its options trading rules to make the Price Improvement Auction (PRISM) clearer and to better explain how the Risk Protection Acceptable Trade Range works. Traders using Nasdaq BX options will see these changes take effect immediately, helping protect them and keep trades fair. No new fees or costs are involved, but the rules now better guide how trades get handled.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
PRISM response rules clarified
If you trade options on Nasdaq BX, the Exchange amended Options 3, Section 13 to clarify how responses in the Price Improvement Auction (PRISM) are handled, including how multiple responses are treated. The change took effect immediately when BX filed on January 28, 2025 and is intended to help protect traders and keep trades fair.
Acceptable Trade Range application explained
If you trade options on Nasdaq BX, the Exchange amended Options 3, Section 15(b)(1) to describe how the Risk Protection Acceptable Trade Range is applied to trades. The change took effect immediately when BX filed on January 28, 2025 and is intended to better guide how trades get handled.
No new fees from these rule changes
Nasdaq BX's filing indicates the amendments clarify trading procedures but do not create any new fees or costs for traders. These clarifications took effect immediately when the Exchange filed on January 28, 2025.
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