Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Increase the Exchange's Port Fees in Options 7, Section 9
Published Date: 1/10/2025
Notice
Summary
Nasdaq PHLX is raising fees for certain options trading ports called SQF and SQF Purge Ports. This change affects traders and market makers who use these ports to send and receive trading info. The new fees kicked in right after the filing on December 20, 2024, so users should be ready for the higher costs now.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Higher Fees for SQF Trading Ports
Nasdaq PHLX increased fees for its Specialized Quote Feed (SQF) Ports and SQF Purge Ports used by Lead Market Makers, Streaming Quote Traders (SQTs), and Remote Streaming Quote Traders (RSQTs). The Exchange filed the change on December 20, 2024 and designated it operative on January 1, 2025; the filing was effective upon filing, so users who use these ports should expect higher port costs starting now and by January 1, 2025.
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Previous / Next Documents
Previous: 2025-00302 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Increase the Exchange's Port Fees in NOM Options 7, Section 3
Nasdaq is raising fees for special connection ports used by traders in its options market, starting right away. This change mainly affects market makers who use these ports to send and receive trading info. The new fees aim to keep the system running smoothly and will take effect immediately, so users should be ready to pay a bit more soon.
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NYSE Arca is updating its stock trading fees by adding a new Tier 6 for regular trades and introducing Tiers 1, 2, and 3 for sub-dollar trades. These changes affect traders using the NYSE Arca platform and take effect immediately, potentially changing how much they pay when adding orders. The SEC is open to feedback for the next 60 days before finalizing anything.