# 2025-04341: Nasdaq Hikes Fees on Trade Journals Quietly

2025-04341, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Transaction Fees at Equity 7, Sections 121 and 160, is a Federal Register notice from Securities and Exchange Commission published 2025-03-18, effective 2025-03-06; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-04341
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-04341
- Title: Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Transaction Fees at Equity 7, Sections 121 and 160
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 12625
- Published: 2025-03-18
- Effective: 2025-03-06
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Nasdaq Hikes Fees on Trade Journals Quietly

## Summary

Nasdaq is updating its transaction fees for the Nasdaq Report Center and the Equity Trade Journal for Clearing Firms. These changes take effect immediately and could affect how much clearing firms pay when using these services. If you’re involved in trading or clearing on Nasdaq, keep an eye on these new fees starting now!

## Effects PRIA read

- Nasdaq Report Center Fee Changes: mixed, low. Nasdaq changed the transaction fees for the Nasdaq Report Center in a filing made on March 6, 2025. The change took effect immediately and could change how much clearing firms pay when using the Nasdaq Report Center.
- Equity Trade Journal Fee Changes for Clearers: mixed, low. Nasdaq amended transaction fees for the Equity Trade Journal for Clearing Firms in the March 6, 2025 filing and the amendment is effective immediately. If you are a clearing firm that uses the Equity Trade Journal, your payments for that service may change starting now.

## Related documents

- [2026-20466](https://policyrisk.com/federal-register/2026-20466): Adviser and Regulated Fund Custody Rules; Crypto Custody Rules, 2026-10-06
- [2026-19260](https://policyrisk.com/federal-register/2026-19260): Rescission of Rule 14a-8's Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4, 2026-09-21
- [2026-18424](https://policyrisk.com/federal-register/2026-18424): Political Contributions by Certain Investment Advisers, 2026-09-10
- [2026-18190](https://policyrisk.com/federal-register/2026-18190): Transfer Agent Rules, 2026-09-04
- [2026-17183](https://policyrisk.com/federal-register/2026-17183): Regulation Crypto Assets, 2026-08-21
- [2026-12163](https://policyrisk.com/federal-register/2026-12163): The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS, 2026-06-17

## Sources
- [2025-04341 on federalregister.gov](https://www.federalregister.gov/documents/2025/03/18/2025-04341/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)
- [2025-04341 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-03-18/pdf/2025-04341.pdf)

## Related
- [Previous: 2025-04340, Self-Regulatory Organizations; NYSE National, Inc.; Notice of Filing and Immedi…](https://policyrisk.com/federal-register/2025-04340)
- [Next: 2025-04342, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-04342)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-04341 (as of 2026-06-08).