Nasdaq ISE Delays Options Regulatory Fee Shift to July 2026
Published Date: 1/2/2026
Notice
Summary
Nasdaq ISE is hitting the pause button on its new Options Regulatory Fee plan, keeping the current fee of $0.0011 per contract side until July 1, 2026. This delay gives everyone more time to adjust before the new fee system kicks in, and the previous deadline and sunset rules are now off the table. Traders and firms using Nasdaq ISE’s options market will feel the impact as the fee stays steady for the next six months.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
ORF Set at $0.0011 Per Contract Side
Effective January 2, 2026, Nasdaq ISE will maintain its current ORF methodology and set the ORF at $0.0011 per contract side while the industry transitions to the new model. This is a temporary change that raises the ORF from $0.0003 (the October 1, 2025 level) to $0.0011 per contract side until the new methodology becomes effective on July 1, 2026.
New ORF Implementation Delayed to July 1, 2026
Nasdaq ISE is delaying the start of its new Options Regulatory Fee (ORF) methodology that was to take effect on January 2, 2026. The Exchange now will implement the new ORF and methodology on July 1, 2026 and has removed the February 1, 2026 sunset date, giving clearing members and market participants more time to design, test, and implement changes.
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Previous: 2025-24133 — Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Concerning the Exchange's Options Regulatory Fee (ORF) Methodology Until July 1, 2026
Nasdaq is hitting the pause button on its new Options Regulatory Fee plan, pushing the start date from January 2 to July 1, 2026. Meanwhile, they’re bumping up the current fee from $0.00005 to $0.0006 per contract side to keep things steady while everyone adjusts. This change affects traders using Nasdaq’s options market and keeps the fee system familiar for the next six months.
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