# 2026-12258: Nasdaq PHLX Cuts Options Regulatory Fee Slightly

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), is a Federal Register notice from Securities and Exchange Commission published 2026-06-18, effective 2026-07-01; PRIA reads it as touching household money (as of 2026-06-25).

- Canonical: https://policyrisk.com/federal-register/2026-12258
- As of: 2026-06-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-12258
- Title: 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)
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 36890
- Published: 2026-06-18
- Effective: 2026-07-01
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-25

## In one line

Nasdaq PHLX Cuts Options Regulatory Fee Slightly

## Summary

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!

## Effects PRIA read

- Options fee cut to $0.0080 per contract: benefit, low. If you trade options on Nasdaq PHLX, the Options Regulatory Fee (ORF) will drop from $0.0150 to $0.0080 per contract side starting July 1, 2026. This means each contract you trade on Phlx will carry $0.0070 less in ORF charges beginning on that date.
- Clarified ORF collection process: benefit, low. Starting July 1, 2026, the rule text clarifies that the OCC will collect ORF on behalf of Phlx from either (1) the member organization that was the clearing firm for the transaction or (2) a non-member clearing firm when a member executed the trade. The rule also confirms ORF is assessed on ultimat…
- ORF limited to 82% of regulatory costs: benefit, medium. Commencing July 1, 2026, Phlx 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 ORF if revenue is projected to exceed that cap.

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## Sources
- [2026-12258 on federalregister.gov](https://www.federalregister.gov/documents/2026/06/18/2026-12258/self-regulatory-organizations-nasdaq-phlx-llc-notice-of-filing-and-immediate-effectiveness-of-a)
- [2026-12258 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-06-18/pdf/2026-12258.pdf)

## Related
- [Previous: 2026-12257, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing an…](https://policyrisk.com/federal-register/2026-12257)
- [Next: 2026-12259, Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediat…](https://policyrisk.com/federal-register/2026-12259)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-12258 (as of 2026-06-25).