MEMX Adjusts Options Regulatory Fee Calculation
Published Date: 7/23/2026
Notice
Summary
MEMX is updating how it charges the Options Regulatory Fee (ORF) for trades made on its exchange. This change affects members who trade options and starts right away, using a new way to calculate the fee. It’s all about keeping fees fair and clear while making sure the exchange runs smoothly.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 2 costs, 1 mixed.
Options fee raised to $0.0200
If you are a Member that executes options on MEMX, the Options Regulatory Fee (ORF) under the new methodology is set at $0.0200 per contract side, effective immediately. The prior ORF rate of $0.0015 per contract side was set to sunset as of June 30, 2026; MEMX issued a Regulatory Notice on May 29, 2026 indicating the proposed change for July 1, 2026.
ORF charged only to customer-cleared trades
MEMX will assess the ORF only on transactions that clear in the OCC 'customer' range; transactions that clear in the 'firm' or 'market maker' ranges will not be charged the ORF. The Exchange states the ORF will be charged to all transactions that clear as customer at the OCC.
OCC will collect ORF for MEMX customer trades
MEMX will have the Options Clearing Corporation (OCC) collect the ORF on its behalf from Members and Non-Members for customer transactions executed on MEMX Options. The Exchange says ORF will be collected by OCC for all customer transactions executed on MEMX.
ORF revenue capped at 75% of costs
MEMX says it will ensure that ORF revenue, when combined with other regulatory fees and fines, does not exceed 75% of the Exchange's total options regulatory costs and will monitor costs and revenues at least semi-annually. If revenues exceed or fall short materially, MEMX will file a fee change with the SEC to adjust the ORF.
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