Nasdaq Updates Fees for Order Entry Ports
Published Date: 9/4/2025
Notice
Summary
Nasdaq is updating its rules to add a new fee for CORE FIX order entry ports while waiving the testing fee for these new ports. They’re also removing old temporary fee waivers related to OUCH 5.0. These changes affect traders using Nasdaq’s order entry systems and take effect immediately, helping Nasdaq keep things fair and clear on costs.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
New $575/month CORE FIX Port Fee
Nasdaq will charge $575 per CORE FIX order entry port per month. The fee applies to the newly added CORE FIX order entry protocol and is the same rate Nasdaq charges for similar ports like OUCH and RASH.
30-Day Production Port Fee Waiver
Nasdaq will waive the CORE FIX production port fee for 30 days for up to five newly added CORE FIX ports. This temporary waiver is available only during a three-month window beginning on the date Nasdaq first makes CORE FIX available (the Exchange will announce that date in an Equity Trader Alert), and a user may receive the 30-day waiver once per port (up to five ports).
30-Day NTF Testing Fee Waiver ($300)
Nasdaq will waive the $300 Nasdaq Testing Facility (NTF) fee for 30 days for up to five newly added CORE FIX NTF ports. The waiver is available during the same three-month window that begins on the date CORE FIX first becomes available, and a user may receive the 30-day waiver once per port (up to five ports) per CRD membership.
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