# 2026-16464: Nasdaq Tweaks Options Fees: Traders Yawn Collectively

2026-16464, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the PHLX Pricing Schedule at Options 7, Sections 2 (Customer Rebate Program) and 4 (Multiply Listed Options Fees), is a Federal Register notice from Securities and Exchange Commission published 2026-08-13, effective 2026-08-03; PRIA reads it as touching household money (as of 2026-08-20).

- Canonical: https://policyrisk.com/federal-register/2026-16464
- As of: 2026-08-20
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-16464
- Title: Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the PHLX Pricing Schedule at Options 7, Sections 2 (Customer Rebate Program) and 4 (Multiply Listed Options Fees)
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 52392
- Published: 2026-08-13
- Effective: 2026-08-03
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-08-20

## In one line

Nasdaq Tweaks Options Fees: Traders Yawn Collectively

## Summary

Nasdaq PHLX is updating its pricing rules for options trading, changing how customer rebates and fees for multiply listed options work. These changes affect traders using the PHLX platform and start on August 3, 2026. The goal is to tweak rebates and fees to keep things fair and competitive, possibly impacting trading costs and rewards.

## Effects PRIA read

- Small Cut to Customer PIXL Rebates: cost, low. If you submit Customer PIXL Orders on Nasdaq PHLX, the per-contract rebate for those Customer PIXL Orders that execute against a PIXL Initiating Order is reduced from $0.13 to $0.125 for members qualifying for Tier 4 and from $0.14 to $0.135 for members qualifying for Tier 5, effective August 3, 20…
- Broker-Dealer $15,000 Cap Removed: cost, high. If you are a broker-dealer using the PHLX trading floor, the Exchange is discontinuing the Broker-Dealer Transaction Cap that capped Floor Options Transaction Charges at $15,000 per transaction (including FLEX and Cabinet), effective August 3, 2026. Going forward, Broker-Dealer Floor Options Transa…

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## Sources
- [2026-16464 on federalregister.gov](https://www.federalregister.gov/documents/2026/08/13/2026-16464/self-regulatory-organizations-nasdaq-phlx-llc-notice-of-filing-and-immediate-effectiveness-of)
- [2026-16464 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-08-13/pdf/2026-16464.pdf)

## Related
- [Previous: 2026-16463, Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-16463)
- [Next: 2026-16466, AMG BBH Asset-Backed Credit Fund, LLC, et al.; August 10, 2026.](https://policyrisk.com/federal-register/2026-16466)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-16464 (as of 2026-08-20).