# 2026-12633: Nasdaq to Charge for Two New Options Data Feeds

2026-12633, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Two Newly Established Feeds, the Order Feed and the Trades Feed, is a Federal Register notice from Securities and Exchange Commission published 2026-06-24, effective 2026-09-01; PRIA reads it as touching household money (as of 2026-07-01).

- Canonical: https://policyrisk.com/federal-register/2026-12633
- As of: 2026-07-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-12633
- Title: Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Two Newly Established Feeds, the Order Feed and the Trades Feed
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 38061
- Published: 2026-06-24
- Effective: 2026-09-01
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-07-01

## In one line

Nasdaq to Charge for Two New Options Data Feeds

## Summary

Nasdaq is rolling out two new data feeds called the Order Feed and the Trades Feed for its options market and will start charging fees for them beginning September 1, 2026. This change affects traders and firms who use Nasdaq’s options data, helping Nasdaq cover costs and improve services. Plus, they fixed a small typo in their fee schedule to keep things crystal clear.

## Effects PRIA read

- Order Feed: $750/month per distributor: cost, high. If your firm wants the Nasdaq Options Market Order Feed, Nasdaq will charge $750 per month per distributor for unlimited internal and/or external distribution starting September 1, 2026. The Order Feed gives detailed order information (price, quantity, attributes, auction notifications) and can be…
- Trades Feed: $500/month per distributor: cost, high. Nasdaq will charge $500 per month per distributor for the Nasdaq Options Market Trades Feed for unlimited internal and/or external distribution starting September 1, 2026. Previously, last-sale information was offered with the Top of Market feed at no additional cost; Nasdaq is proposing a standalo…
- Feed harmonization and standalone purchases: benefit, medium. Nasdaq is harmonizing its options market data format with Nasdaq ISE, PHLX, GEMX, and MRX so customers can ingest a single format and buy only the feeds they need. Nasdaq says this change allows more efficient data ingestion, hardware load balancing, and the ability to purchase standalone feeds (e.…
- Combined distributor pricing for Top/Order/Trades: cost, high. Nasdaq proposes combined distributor prices for top of market, order, and trades information: $2,868 per month for internal-only distribution, $3,408 per month for external-only distribution, and $5,026 per month for both internal and external distribution. These totals reflect the Top of Market di…

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## Sources
- [2026-12633 on federalregister.gov](https://www.federalregister.gov/documents/2026/06/24/2026-12633/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)
- [2026-12633 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-06-24/pdf/2026-12633.pdf)

## Related
- [Previous: 2026-12632, Combined Notice of Filings #1](https://policyrisk.com/federal-register/2026-12632)
- [Next: 2026-12634, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing an…](https://policyrisk.com/federal-register/2026-12634)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-12633 (as of 2026-07-01).