Nasdaq BX Temporarily Raises Options Regulatory Fees
Published Date: 5/14/2025
Notice
Summary
Starting May 1, 2025, Nasdaq BX is temporarily raising the Options Regulatory Fee (ORF) for options traders and stopping a new fee model planned for June 2025. This fee hike lasts until December 31, 2025, after which the ORF will drop back to its original rate of $0.0005 per contract side. If you trade options on Nasdaq BX, expect to pay a bit more for now!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Temporary Options Fee Increase
If you trade options on Nasdaq BX, the Options Regulatory Fee (ORF) rises from $0.0005 to $0.0008 per contract side starting May 1, 2025. This temporary increase lasts until December 31, 2025, when the fee will revert to $0.0005 per contract side.
June 2025 ORF Model Discontinued
Nasdaq BX will not implement the new ORF model that had been scheduled for June 1, 2025; the Exchange proposes to discontinue that June 2025 ORF model. The Exchange states no Participant would be subject to the June 2025 ORF as a result of this proposal.
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Previous / Next Documents
Previous: 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
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!
Next: 2025-08458 — Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Increase the Options Regulatory Fee (ORF) on a Temporary Basis and Discontinue the ORF Model Scheduled To Be Implemented in June 2025
Starting May 1, 2025, Nasdaq MRX is temporarily raising its Options Regulatory Fee (ORF) to collect more money for oversight, but this increase will end on December 31, 2025, when fees drop back down. Also, the new ORF model planned for June 2025 is being scrapped, so traders won’t see that change. This affects anyone trading options on Nasdaq MRX and means a short-term bump in fees before things go back to normal.