# 2025-08456: Nasdaq Lowers Options Fees and Dumps June Model Plan

2025-08456, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Decrease the Options Regulatory Fee (ORF) and Discontinue the ORF Model Scheduled To Be Implemented in June 2025, is a Federal Register notice from Securities and Exchange Commission published 2025-05-14, effective 2025-05-01; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-08456
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-08456
- Title: Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Decrease the Options Regulatory Fee (ORF) and Discontinue the ORF Model Scheduled To Be Implemented in June 2025
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 20532
- Published: 2025-05-14
- Effective: 2025-05-01
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Nasdaq Lowers Options Fees and Dumps June Model Plan

## Summary

Starting May 1, 2025, Nasdaq is lowering the Options Regulatory Fee (ORF) for traders using its options market and scrapping the new ORF model that was planned for June 2025. This means options traders will pay less in fees, and the complicated new fee system won’t happen. If you trade options on Nasdaq, get ready for simpler and cheaper fees soon!

## Effects PRIA read

- Options Regulatory Fee Cut per Contract: benefit, low. Starting May 1, 2025, Nasdaq is lowering its Options Regulatory Fee (ORF) from $0.0016 to $0.0014 per contract side. If you trade options on Nasdaq (or clear customer options through a Nasdaq participant), each cleared contract side will be charged the lower ORF rate beginning on that date.
- Planned June 2025 ORF Model Discontinued: benefit, low. Nasdaq is discontinuing the new ORF model that had been scheduled for implementation in June 2025, so the planned June 2025 changes will not take effect. Nasdaq says it will continue assessing ORF under current procedures while it re-evaluates and may file a future proposal for a revised ORF approa…

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## Sources
- [2025-08456 on federalregister.gov](https://www.federalregister.gov/documents/2025/05/14/2025-08456/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)
- [2025-08456 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-05-14/pdf/2025-08456.pdf)

## Related
- [Previous: 2025-08455, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designati…](https://policyrisk.com/federal-register/2025-08455)
- [Next: 2025-08457, Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-08457)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-08456 (as of 2026-06-08).