Nasdaq Raises Options Fee for Traders Next Summer
Published Date: 6/18/2026
Notice
Summary
Starting July 1, 2026, Nasdaq is raising its Options Regulatory Fee (ORF), which affects traders who use Nasdaq’s options market. This means those trading options will pay a bit more in fees. The change is official now but kicks in next summer, so get ready for the new rates!
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
ORF Applies Only to On‑Exchange Customer Trades
Under the new methodology effective July 1, 2026, customers will only pay ORF for transactions executed on Nasdaq (on-exchange) and will not pay ORF on away-market trades. The Exchange states that, because of this, overall customer transactions in the industry will be subject to a lower ORF under the new methodology.
ORF Rate Rises to $0.0200
If you trade options on Nasdaq, the Options Regulatory Fee (ORF) will increase from $0.0157 to $0.0200 per contract side effective July 1, 2026. This means each options contract you trade on NOM will carry an extra $0.0043 fee per side starting that date.
ORF Revenue Capped at 82% of Costs
Starting July 1, 2026, Nasdaq will endeavor to ensure that ORF Regulatory Revenue does not exceed 82% of its Options Regulatory Costs. The Exchange says it will monitor ORF revenue and amend the fee if revenue exceeds its projections.
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Previous / Next Documents
Previous: 2026-12256 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Exchange's Options Regulatory Fee (ORF)
Starting July 1, 2026, Nasdaq ISE is lowering its Options Regulatory Fee (ORF), which means traders will pay less when they trade options on this exchange. This change affects anyone using Nasdaq ISE for options trading and aims to keep fees fair and clear. The new fee rules kick in right at the start of July, so get ready for some savings!
Next: 2026-12258 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Exchange's Options Regulatory Fee (ORF)
Starting July 1, 2026, Nasdaq PHLX is lowering its Options Regulatory Fee (ORF), which means traders will pay less when they trade options on this exchange. This change affects anyone using Nasdaq PHLX for options trading and aims to make fees fairer without changing how the fee is collected. The new lower fee kicks in right at the start of July, so get ready for some savings!