Federal Register #SR-PHLX-2026-18

SEC Notice: Nasdaq PHLX LLC Proposed Rule Change to Options Pricing Schedule

This notice announces a proposed rule change by Nasdaq PHLX LLC, reviewed by the Securities and Exchange Commission (SEC), regarding updates to the exchange's options pricing schedule. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Nasdaq PHLX LLC (the only OEM/vendor mentioned) - Products/Services Requested: - No products or services are being procured; this is a regulatory notice - Notable Requirements and Details: - Amends the PHLX Pricing Schedule at Options 7, Section 2 (Customer Rebate Program) and Section 4 (Multiply Listed Options Fees) - Modifies percentage thresholds for rebate tiers in the Customer Rebate Program - Discontinues an exemption from the Marketing Fee for contra side orders in Exposure Complex Auctions - Aims to encourage greater order flow to the exchange and ensure equitable fee application among market participants - No procurement of goods or services is involved; this is a regulatory change affecting exchange fee structures

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change filed by Nasdaq PHLX LLC. The proposal seeks to amend the PHLX Pricing Schedule specifically at Options 7, Section 2, which covers the Customer Rebate Program, and at Options 7, Section 4, which addresses Multiply Listed Options Fees. Key changes include modifying percentage thresholds for rebate tiers and discontinuing an exemption from the Marketing Fee for contra side orders in Exposure Complex Auctions. The amendments aim to encourage greater order flow and ensure equitable fee application among market participants.

View original listing