Nasdaq Slashes Fees to Lure More Market Maker Action Now
Published Date: 12/18/2025
Notice
Summary
Nasdaq is changing its options trading fees to give Market Makers a better deal when they add lots of trades in non-penny stocks. Starting now, if Market Makers hit certain volume goals, they’ll pay less per contract, saving them money and encouraging more trading. This update kicks in immediately, so traders should watch their volumes to get the best rates!
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Lowered Volume Thresholds for NOM Market Makers
If you are a NOM Market Maker, Nasdaq lowered the volume thresholds that let you avoid a $0.35 per-contract Fee to Add Liquidity in Non-Penny Symbols or earn a rebate. Previously, the $0.00 fee applied at 0.03%–0.07% of industry ADV, a $0.30 rebate applied at >0.07%–0.10%, and a $0.40 rebate applied at >0.10%. Under the change (effective upon filing December 1, 2025), the $0.00 fee now applies at 0.025%–0.035%, the $0.30 rebate applies at >0.035%–0.075%, and the $0.40 rebate applies at >0.075% of total industry customer equity and ETF option ADV contracts per day in a month.
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