Nasdaq BX Fee Shuffle: Gearing Up for Reg NMS 610(d) Compliance
Published Date: 2/12/2026
Notice
Summary
Nasdaq BX is updating its fees and rebates starting February 2, 2026, to follow a new rule called Reg NMS Rule 610(d). This change affects traders and firms using the exchange by adjusting how much they pay or earn on stock trades. The new fee schedule kicks in right away but officially starts on February 2, so everyone can get ready!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Fees Determined From Prior-Month Volume
Starting February 2, 2026, Nasdaq BX will calculate tiered equities transaction fees and rebates using quoting and trading volume from the prior month so that the fee or rebate for a given execution can be known at the time of execution. All other fees and rebates remain unchanged.
New Members Receive Base Rates First Month
Effective February 2, 2026, new Nasdaq BX members will receive the base transaction rates in their first month of trading (prior-month volume cannot be used for their first month).
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Key Dates
Department and Agencies
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Previous: 2026-02802 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the NYSE Arca Options Fee Schedule To Eliminate a Pricing Incentive Relating to Options on NYSE Arca Equities-Listed Digital Asset Exchange Trading Funds
NYSE Arca is removing a special discount that made trading options on digital asset ETFs cheaper. This change affects traders who use NYSE Arca’s options market and starts right away, meaning some trades might cost a bit more. The goal is to simplify fees and keep things fair across the board.
Next: 2026-02804 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Exchange's Schedule of Fees and Rebates To Bring It Into Compliance With New Reg NMS Rule 610(d)
Nasdaq PHLX is updating its fees and rebates starting February 2, 2026, to follow a new rule called Reg NMS Rule 610(d). This change affects traders using the exchange by adjusting how much they pay or earn on transactions. The update kicks in right away to keep everything fair and square with the latest regulations.