Nasdaq GEMX Tweaks Penny Stock Trader Fees, Zzz
Published Date: 8/11/2026
Notice
Summary
Nasdaq GEMX is changing some fees for traders who make deals in penny stocks, specifically for Market Makers and others outside Nasdaq GEMX. These new fees kick in on August 3, 2026, and could affect how much these traders pay when they take trades. If you’re a Market Maker or trade penny options on GEMX, this update is for you!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Penny Taker Fee Increase for Market Makers
If you are a Market Maker or a Non‑Nasdaq GEMX Market Maker (a "FarMM"), GEMX is increasing the Tier 3 penny-symbol taker fee from $0.43 to $0.47 per contract and the Tier 4 penny-symbol taker fee from $0.43 to $0.45 per contract. The revised fees apply when the Member is both the buyer and seller or when the Member removes liquidity from another Member as an Affiliated Member or Affiliated Entity, and are operative on August 3, 2026.
SPY Pricing: Better-of Note 17 or Note 18
For SPY, a Member will receive the pricing from either note 17 or the amended note 18—whichever is more favorable to the Member—but may not receive both in the same month. This pricing rule is part of the amendments that become operative on August 3, 2026.
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