# 2025-20692: Nasdaq Fixes FIX Ports and Waives Some Trading Fees

2025-20692, Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To amend Rule Equity 7, Section 115 To Establish Port and Disaster Recovery Fees for CORE FIX Order Entry Ports, Amend Rule Equity 7, Section 130 To Waive the BX Testing Facility Fee for CORE FIX Entry Ports, and Amend the Language in Sections of 115 and 130 To Remove the Temporary Fee Waiver Language Pertaining to OUCH 5.0, is a Federal Register notice from Securities and Exchange Commission published 2025-11-24, effective 2025-09-25 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-20692
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-20692
- Title: Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To amend Rule Equity 7, Section 115 To Establish Port and Disaster Recovery Fees for CORE FIX Order Entry Ports, Amend Rule Equity 7, Section 130 To Waive the BX Testing Facility Fee for CORE FIX Entry Ports, and Amend the Language in Sections of 115 and 130 To Remove the Temporary Fee Waiver Language Pertaining to OUCH 5.0
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 53016
- Published: 2025-11-24
- Effective: 2025-09-25
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Nasdaq Fixes FIX Ports and Waives Some Trading Fees

## Summary

Nasdaq BX is updating its rules to start charging fees for new CORE FIX order entry ports and disaster recovery services, while also waiving testing fees for these new ports. They’re removing old temporary fee waivers related to OUCH 5.0, so some fees are back in play. These changes affect traders and firms using these ports and take effect immediately, meaning some will see new charges soon.

## Effects PRIA read

- New CORE FIX Port Monthly Fees: cost, high. Nasdaq BX will charge $500 per CORE FIX order entry port each month and a $25/month disaster recovery port fee for CORE FIX. These fees match fees the Exchange charges for similar protocols.
- 30-Day Production Port Fee Waiver: benefit, medium. BX will waive the CORE FIX production port fee for 30 days for up to five newly added CORE FIX ports per user. That waiver is available only during a three-month window beginning on the date CORE FIX first becomes available (the Exchange will announce that date).
- Testing Facility Fee 30-Day Waiver: benefit, medium. BX will waive the $300 Testing Facility fee for 30 days for up to five newly added CORE FIX Testing Facility ports per user. The waiver is offered only during a three-month window beginning on the date CORE FIX first becomes available, as announced by the Exchange.
- Removal of OUCH Temporary Waiver: cost, high. Nasdaq BX is removing language that had provided a temporary production port fee waiver for OUCH 5.0; the three-month OUCH waiver that began in November 2022 has lapsed. The removal means the temporary waiver language is no longer in the rulebook.
- Prorated First Month and Cancellation Pay Rule: cost, low. The fee schedule includes a footnote that fees are prorated for the first month of service, and if you cancel, you must pay for service for the remainder of the month even if it was your first month. This affects how initial and cancellation charges are calculated.

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## Sources
- [2025-20692 on federalregister.gov](https://www.federalregister.gov/documents/2025/11/24/2025-20692/self-regulatory-organizations-nasdaq-bx-inc-notice-of-filing-and-immediate-effectiveness-of-proposed)
- [2025-20692 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-11-24/pdf/2025-20692.pdf)

## Related
- [Previous: 2025-20691, Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-20691)
- [Next: 2025-20693, Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effecti…](https://policyrisk.com/federal-register/2025-20693)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-20692 (as of 2026-06-08).