Options Traders Save Pennies on Nasdaq Fees
Published Date: 7/10/2025
Notice
Summary
Starting August 1, 2025, Nasdaq PHLX is lowering its Options Regulatory Fee from $0.0034 to $0.0024 per contract side. This means traders and firms using Phlx will pay less on each options trade, saving money right away. The change is already approved and effective, so everyone can get ready for the cheaper fees!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Phlx Cuts Options Regulatory Fee
Starting August 1, 2025, Nasdaq PHLX will lower its Options Regulatory Fee (ORF) from $0.0034 to $0.0024 per contract side. Traders and firms that pay ORF on Phlx customer options trades will pay $0.0010 less per contract side beginning on that date.
Who Is Charged ORF Explained
Phlx assesses ORF for each Customer option transaction that is either (1) executed by a member organization on Phlx, or (2) cleared by a Phlx member organization at OCC in the Customer range even if executed on another exchange. If the OCC clearing member is not a Phlx member organization, ORF is collected only on cleared Customer contracts that were executed at Phlx, taking CMTA instructions into account.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-13824 — Datum One Series Trust and Polar Capital LLP
Datum One Series Trust and Polar Capital LLP want to create a new kind of investment fund that offers both exchange-traded shares (like ETFs) and regular mutual fund shares all in one fund. This change could make investing easier and more flexible for people using these funds. If no one asks for a hearing by July 31, 2026, the SEC will likely approve this new setup soon.
2026-13816 — Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 15b9-1
The SEC is asking for comments to extend a rule that affects brokers and dealers who trade stocks. If they trade off an exchange they belong to, they usually have to join a special group called an Association, but some exceptions apply. This keeps trading fair and safe without adding extra costs or paperwork for most folks.
Previous / Next Documents
Previous: 2025-12802 — Agency Information Collection Activities; Request for Emergency Approval of Revision to Approved Information Collection Request, Complaint Involving Employment Discrimination by a Federal Contractor or Subcontractor
The Department of Labor wants to quickly update the form used by people who report job discrimination by federal contractors or their subcontractors. This change helps make sure complaints are handled faster and better. If you work for or with the government and face discrimination, this update affects you—and it’s happening right now, so keep an eye out!
Next: 2025-12809 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change To List and Trade Shares of the Truth Social Bitcoin and Ethereum ETF, B.T. Under NYSE Arca Rule 8.201-E (Commodity-Based Trust Shares)
NYSE Arca wants to start trading shares of the Truth Social Bitcoin and Ethereum ETF, a new fund that lets people invest in Bitcoin and Ethereum through the stock market. This change affects investors looking for easy crypto exposure and could start soon after the SEC reviews the proposal. It’s a fresh way to mix social media vibes with crypto investing, potentially shaking up how folks buy digital coins.