Nasdaq Blames Inflation for Jacking Up Trading Fees
Published Date: 1/13/2025
Notice
Summary
Nasdaq is updating fees for some of its options market data products to keep up with inflation. This affects traders and firms using Best of Nasdaq Options, Nasdaq ITCH to Trade Options, and NOM Depth data services. The new fees kicked in right after the filing on December 26, 2024, so users should check their bills for changes soon!
Analyzed Economic Effects
4 provisions identified: 0 benefits, 4 costs, 0 mixed.
Inflation Increase for BONO Fees
If you or your firm use Best of Nasdaq Options (BONO) data, the Exchange adjusted BONO fees to account for inflation that occurred since those fees were last changed. The fee change took effect immediately upon Nasdaq's filing on December 26, 2024, so check your invoices for updated charges.
Inflation Adjustment for ITTO Fees
If you or your firm use Nasdaq ITCH to Trade Options (ITTO) data, Nasdaq increased ITTO fees to reflect inflation since the last fee change. The change became effective immediately after the filing on December 26, 2024, so review upcoming bills for the new rates.
Enterprise and Per-User BONO/ITTO License Hike
Nasdaq is adjusting the enterprise license fee for BONO and ITTO and the per-user professional fee (both internal and external distribution) for inflation since those fees were last changed. These adjustments took effect immediately upon the December 26, 2024 filing, so firms with enterprise or per-user licenses should expect changed billing.
NOM Depth Hardware Delivery Fee Change
If you or your firm receive Hardware-Based Delivery of NOM Depth data (internal or external distribution), Nasdaq adjusted those delivery fees for inflation since they were last changed. The updated fees became effective immediately after Nasdaq filed the change on December 26, 2024, so check your statements for revised delivery charges.
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