Nasdaq BX Fee Shuffle: Gearing Up for Reg NMS 610(d) Compliance
Published Date: 2/12/2026
Notice
Summary
Nasdaq BX is updating its fees and rebates starting February 2, 2026, to follow a new rule called Reg NMS Rule 610(d). This change affects traders and firms using the exchange by adjusting how much they pay or earn on stock trades. The new fee schedule kicks in right away but officially starts on February 2, so everyone can get ready!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Fees Determined From Prior-Month Volume
Starting February 2, 2026, Nasdaq BX will calculate tiered equities transaction fees and rebates using quoting and trading volume from the prior month so that the fee or rebate for a given execution can be known at the time of execution. All other fees and rebates remain unchanged.
New Members Receive Base Rates First Month
Effective February 2, 2026, new Nasdaq BX members will receive the base transaction rates in their first month of trading (prior-month volume cannot be used for their first month).
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