# 2025-15738: Nasdaq Updates Options Trading Rebates for Makers

2025-15738, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Section 2, is a Federal Register notice from Securities and Exchange Commission published 2025-08-19, effective 2025-08-01; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-15738
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-15738
- Title: Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Section 2
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 40440
- Published: 2025-08-19
- Effective: 2025-08-01
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Nasdaq Updates Options Trading Rebates for Makers

## Summary

Nasdaq is updating its options trading fees to reward Market Makers more when they add liquidity in non-penny stocks. These changes start right away and aim to encourage smoother trading with better rebates and adjusted fees. If you’re a Market Maker on Nasdaq, expect some fresh incentives that could impact your trading costs and earnings.

## Effects PRIA read

- New $0.30 Non‑Penny Rebate: benefit, medium. If you are a NOM Market Maker, Nasdaq will pay a $0.30 per‑contract rebate for adding liquidity in Non‑Penny Symbols when you add more than 0.07% up to 0.10% of total industry customer equity and ETF option average daily volume (ADV) per day in a month. Participants that add more than 0.10% will re…
- Higher Volume Thresholds To Get Rebates: cost, medium. Nasdaq raises the percentage thresholds in note 5 so that to pay no Non‑Penny fee or receive rebates you must add more NOM Market Maker liquidity in Non‑Penny Symbols: 0.03%–0.07% of industry ADV is assessed $0.00 per contract; above 0.07%–0.10% receives $0.30 per contract; above 0.10% receives $0.…
- Some Market Makers May Lose Or Receive Lower Rebates: mixed, medium. The Exchange states some Participants that currently receive a $0.20 per‑contract Non‑Penny rebate may receive no rebate after the change, and some Participants that currently receive a $0.40 per‑contract rebate may receive the proposed $0.30 per‑contract rebate instead.

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## Sources
- [2025-15738 on federalregister.gov](https://www.federalregister.gov/documents/2025/08/19/2025-15738/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)
- [2025-15738 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-08-19/pdf/2025-15738.pdf)

## Related
- [Previous: 2025-15737, Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediat…](https://policyrisk.com/federal-register/2025-15737)
- [Next: 2025-15739, Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and I…](https://policyrisk.com/federal-register/2025-15739)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-15738 (as of 2026-06-08).