# 2025-11101: Nasdaq MRX Slashes Fees for Complex Order Market Makers

2025-11101, Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend MRX's Pricing Schedule Regarding a Complex Order Market Maker Fee Discount, is a Federal Register notice from Securities and Exchange Commission published 2025-06-17, effective 2025-06-02; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-11101
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-11101
- Title: Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend MRX's Pricing Schedule Regarding a Complex Order Market Maker Fee Discount
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 25657
- Published: 2025-06-17
- Effective: 2025-06-02
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Nasdaq MRX Slashes Fees for Complex Order Market Makers

## Summary

Nasdaq MRX is giving Market Makers a bigger discount on fees when they trade complex orders against Priority Customer orders from their own affiliated members or entities. This change kicks in right away and helps Market Makers save money on both Penny and Non-Penny options. If you’re a Market Maker linked to Priority Customers, expect lower fees starting now!

## Effects PRIA read

- Market Makers Face $0.10 Complex Fee: cost, low. If you are a Market Maker on Nasdaq MRX and you trade complex orders against Priority Customer orders that originate from an Affiliated Member or an Affiliated Entity in Penny or Non-Penny symbols, the fee discount was changed from $0.00 to $0.10 per contract. This change is operative on June 2, 20…
- Priority Customers Continue Paying No Fee: benefit, low. Priority Customers (non-broker/dealers that do not place more than 390 listed options orders per day on average) continue to be assessed no fee for Penny and Non-Penny Symbol complex order transactions on MRX. That treatment remains in place under the proposed pricing schedule.

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## Sources
- [2025-11101 on federalregister.gov](https://www.federalregister.gov/documents/2025/06/17/2025-11101/self-regulatory-organizations-nasdaq-mrx-llc-notice-of-filing-and-immediate-effectiveness-of-a)
- [2025-11101 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-06-17/pdf/2025-11101.pdf)

## Related
- [Previous: 2025-11100, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of…](https://policyrisk.com/federal-register/2025-11100)
- [Next: 2025-11102, Notice of Intent To Grant an Exclusive, Co-Exclusive or Partially Exclusive Pat…](https://policyrisk.com/federal-register/2025-11102)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-11101 (as of 2026-06-08).