# 2026-11815: Nasdaq PHLX Adjusts Options Rebates and Fees

2026-11815, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Sections 2, 5 and 9B, 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 2026-06-19).

- Canonical: https://policyrisk.com/federal-register/2026-11815
- As of: 2026-06-19
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-11815
- Title: Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Sections 2, 5 and 9B
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 35742
- Published: 2026-06-12
- Effective: 2026-05-27
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-19

## In one line

Nasdaq PHLX Adjusts Options Rebates and Fees

## Summary

Nasdaq PHLX is updating its options pricing rules to change how customer rebates, index options fees, and port fees work. These changes affect traders using the exchange by adjusting rebate tiers and fees, aiming to keep things fair and clear. The new rules took effect right after filing on May 27, 2026, so traders should check how these updates might impact their costs.

## Effects PRIA read

- Lower Customer Rebate Tier Thresholds: benefit, medium. The exchange lowered the monthly national customer volume thresholds needed to reach its top rebate tiers. Tier 4 changed from above 2.00%–2.75% to above 2.00%–2.50%, and Tier 5 changed from above 2.75% to above 2.50%. These changes took effect on May 27, 2026 and mean members may qualify for highe…
- NDX/NDXP Premium-Based Surcharge: mixed, medium. The exchange replaced a flat $1.50 per-contract surcharge for certain Nasdaq-100 (NDX/NDXP) electronic non-customer orders that remove liquidity with a premium-based tiered surcharge. The new schedule is $1.00 for premiums less than $3.00; $1.50 for $3.00–less than $10.00; $2.00 for $10.00–less tha…

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## Sources
- [2026-11815 on federalregister.gov](https://www.federalregister.gov/documents/2026/06/12/2026-11815/self-regulatory-organizations-nasdaq-phlx-llc-notice-of-filing-and-immediate-effectiveness-of)
- [2026-11815 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-06-12/pdf/2026-11815.pdf)

## Related
- [Previous: 2026-11814, Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Im…](https://policyrisk.com/federal-register/2026-11814)
- [Next: 2026-11816, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-11816)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-11815 (as of 2026-06-19).