Nasdaq Lowers Fees for FLEX Options to Aid Traders
Published Date: 12/23/2025
Notice
Summary
Nasdaq ISE is cutting fees for special FLEX orders that help traders get better prices. This change affects anyone using FLEX Price Improvement Auctions or Solicited Order Mechanisms and takes effect right away, making trading cheaper and smoother. If you trade FLEX options, get ready to save some money starting December 10, 2025!
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
FLEX PIM/SOM fee cut for non-priority users
If you are a non-priority customer using Nasdaq ISE FLEX Price Improvement Auctions (FLEX PIM) or FLEX Solicited Order Mechanisms (FLEX SOM), the per-contract fee is reduced from $0.07 to $0.06. This fee change took effect when the exchange filed the rule change on December 10, 2025.
Priority Customers continue paying no FLEX PIM/SOM fees
Priority Customers (including Retail) will continue to be assessed no fee for submitting orders into FLEX PIM and FLEX SOM. The exchange reaffirmed that Priority Customers are charged $0.00 for these FLEX mechanisms.
Responses to FLEX PIM/SOM remain $0.50 per contract
Any member (including Market Makers and Priority Customers) that submits responses to a FLEX PIM or FLEX SOM will continue to be charged $0.50 per contract for those responses. The filing leaves this response fee unchanged.
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