# 2026-11806: Nasdaq GEMX Tweaks Options Fees in an Immediate Rule Change

2026-11806, Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Section 3, is a Federal Register notice from Securities and Exchange Commission published 2026-06-12, effective 2026-05-27; PRIA reads it as touching household money (as of 2026-10-28).

- Canonical: https://policyrisk.com/federal-register/2026-11806
- As of: 2026-10-28
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-11806
- Title: Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Section 3
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 35735
- Published: 2026-06-12
- Effective: 2026-05-27
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-10-28

## In one line

Nasdaq GEMX Tweaks Options Fees in an Immediate Rule Change

## Summary

Nasdaq GEMX is updating its pricing rules for Nasdaq-100 Index options, changing the surcharge fees traders pay per contract. This affects anyone trading these options on GEMX starting immediately, with the goal of keeping fees fair and clear. No big surprises on timing or costs—just a smooth update to how fees work.

## Effects PRIA read

- Lower fee for low-premium NDX trades: benefit, low. If you are a Non-Priority Customer who removes liquidity in Nasdaq-100 (NDX) electronic simple options with a premium less than $3.00, the surcharge is $1.00 per contract (reduced from $1.50). This surcharge is in addition to the existing $0.75 Options Transaction Charge for Non-Priority Customer o…
- Higher fees for higher-premium NDX trades: cost, medium. If you are a Non-Priority Customer who removes liquidity in NDX options with premiums at or above $10.00, the surcharge increases to $2.00 per contract for premiums $10.00–$24.99, $2.50 for $25.00–$49.99, and $3.00 for premiums $50.00 or greater (replacing the prior flat $1.50 surcharge). These sur…
- Surcharge applies to all Non-Priority participants: mixed, low. The tiered surcharge applies uniformly to all electronic simple Non-Priority Customer orders that remove liquidity in NDX. "Non-Priority Customer" explicitly includes Market Makers, Non-Nasdaq GEMX Market Makers (FarMMs), Firm Proprietary/Broker-Dealers, and Professional Customers.
- Priority (retail) customers not charged new surcharge: benefit, low. Priority Customer orders are not subject to the proposed NDX tiered surcharge; Priority Customers continue to pay the $0.50 per contract fee in NDX. The proposal therefore does not add this surcharge to Customer (Priority) orders.

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## Sources
- [2026-11806 on federalregister.gov](https://www.federalregister.gov/documents/2026/06/12/2026-11806/self-regulatory-organizations-nasdaq-gemx-llc-notice-of-filing-and-immediate-effectiveness-of)
- [2026-11806 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-06-12/pdf/2026-11806.pdf)

## Related
- [Previous: 2026-11805, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-11805)
- [Next: 2026-11807, Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of Filing and Imm…](https://policyrisk.com/federal-register/2026-11807)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-11806 (as of 2026-10-28).