# 2026-19119: Nasdaq Options Rules Get Fee and Rebate Polish

2026-19119, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Rules at Options 7, Sections 1 and 2, is a Federal Register notice from Securities and Exchange Commission published 2026-09-18, effective 2026-09-01; PRIA reads it as touching household money (as of 2026-09-25).

- Canonical: https://policyrisk.com/federal-register/2026-19119
- As of: 2026-09-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-19119
- Title: Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Rules at Options 7, Sections 1 and 2
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 59283
- Published: 2026-09-18
- Effective: 2026-09-01
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-09-25

## In one line

Nasdaq Options Rules Get Fee and Rebate Polish

## Summary

Nasdaq is updating its options trading rules to clarify terms and adjust fees and rebates for different traders like customers, professionals, and market makers. These changes kick in right away and aim to keep trading fair and efficient without raising costs. If you trade options on Nasdaq, these tweaks could affect your fees and rebates starting now.

## Effects PRIA read

- Customer Penny Rebate Raised $0.01: benefit, low. If you trade options on Nasdaq as a Customer, the top Tier 6 rebate paid to add liquidity in Penny Symbols increases from $0.48 to $0.49 per contract. This change applies to any Participant that meets the Tier 6 Customer qualification and took effect upon the filing on September 1, 2026.
- NOM Market Maker Penny Rebate Cut: cost, low. If you are registered as a NOM Market Maker, the Tier 6 rebate to add liquidity in Penny Symbols is reduced from $0.47 to $0.45 per contract. This adjustment is uniform for all NOM Market Makers and became effective upon the filing on September 1, 2026.
- Market Makers Lose Special Removal Fee Discounts: cost, medium. Nasdaq is eliminating Note 2, which previously gave Non-NOM and NOM Market Makers reduced Penny-symbol removal fees ($0.48 or $0.38 per contract) in narrow cases (when the participant is both buyer and seller or removes liquidity from a participant under common ownership and meets 1.10% or 1.55% vo…
- Tier 6 Qualification Path Streamlined: mixed, medium. Nasdaq narrowed the second alternative path to qualify for the Tier 6 Customer and Professional rebate. After the change, the second path requires adding at least 0.10% of total industry customer equity and ETF option ADV and qualifying for MARS; Nasdaq removed the prior alternative that allowed qu…
- Extra Tier 6 Volume Enhancements Removed: cost, medium. Nasdaq is eliminating Note 7, which currently gives additional Tier 6 Customer rebate enhancements (for example, an extra $0.02 per contract at 1.15% ADV or $0.05 per contract at 1.30% ADV and other layered conditions). After the change, Participants who qualify for Tier 6 will receive the consolid…
- High-Volume Exclusive Rebate Option Eliminated: benefit, medium. Nasdaq is eliminating Note 10, which had offered an exclusive alternative rebate schedule to Participants that met demanding conditions (add-liquidity volume above 1.50% of industry customer equity and ETF option ADV, MOC/LOC Consolidated Volume > 0.04% in the Nasdaq closing cross, and non-displaye…

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## Sources
- [2026-19119 on federalregister.gov](https://www.federalregister.gov/documents/2026/09/18/2026-19119/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate)
- [2026-19119 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-09-18/pdf/2026-19119.pdf)

## Related
- [Previous: 2026-19118, Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and I…](https://policyrisk.com/federal-register/2026-19118)
- [Next: 2026-19120, Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-19120)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-19119 (as of 2026-09-25).