Nasdaq MRX Shuffles Options Fees and Rebates for Traders
Published Date: 2/20/2025
Notice
Summary
Nasdaq MRX is shaking up its options pricing starting now! They’re adding new rebates for makers, changing taker fees, dropping some discounts, and tweaking volume rules. Traders and firms using Nasdaq MRX options should watch their costs and benefits closely because these changes take effect immediately and could impact their trading bills.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 1 costs, 2 mixed.
Changes to Taker Fees for Penny Options
If you remove liquidity (are a "taker") in penny-listed options on Nasdaq MRX, the exchange will amend Penny Symbol Taker Fees. The change was filed February 3, 2025 and is effective immediately, so taker fee rules apply now.
Elimination of Discounted Taker Fees
Nasdaq MRX will eliminate discounted Penny Symbol Taker Fees, meaning firms or traders who previously paid a reduced taker rate may no longer receive that discount. This change was filed February 3, 2025 and takes effect immediately.
New Volume Rules for Tier Qualification
The exchange will amend the volume requirements used to qualify for fee and rebate tiers for penny-listed options, which can change whether a firm meets a tier. The amendment was filed February 3, 2025 and is designated for immediate effectiveness.
New Maker Rebates for Penny Options
If you add liquidity (are a "maker") in penny-listed options on Nasdaq MRX, the exchange will adopt new Penny Symbol Maker Rebates. This rule change was filed February 3, 2025 and is designated for immediate effectiveness, so the rebate structure applies right away.
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