2025-12808NoticeWallet

Options Traders Save Pennies on Nasdaq Fees

Published Date: 7/10/2025

Notice

Summary

Starting August 1, 2025, Nasdaq PHLX is lowering its Options Regulatory Fee from $0.0034 to $0.0024 per contract side. This means traders and firms using Phlx will pay less on each options trade, saving money right away. The change is already approved and effective, so everyone can get ready for the cheaper fees!

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Phlx Cuts Options Regulatory Fee

Starting August 1, 2025, Nasdaq PHLX will lower its Options Regulatory Fee (ORF) from $0.0034 to $0.0024 per contract side. Traders and firms that pay ORF on Phlx customer options trades will pay $0.0010 less per contract side beginning on that date.

Who Is Charged ORF Explained

Phlx assesses ORF for each Customer option transaction that is either (1) executed by a member organization on Phlx, or (2) cleared by a Phlx member organization at OCC in the Customer range even if executed on another exchange. If the OCC clearing member is not a Phlx member organization, ORF is collected only on cleared Customer contracts that were executed at Phlx, taking CMTA instructions into account.

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Key Dates

Published Date
Effective Date
7/10/2025
8/1/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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