Federal Register #SR-GEMX-2026-25

SEC Notice: Nasdaq GEMX, LLC Proposed Rule Change to Amend Options Regulatory Fee (ORF)

This notice concerns a proposed rule change by Nasdaq GEMX, LLC, published by the Securities and Exchange Commission (SEC). - The proposal seeks to decrease the Options Regulatory Fee (ORF) from $0.0116 to $0.0100 per contract side. - The new rate would take effect on July 1, 2026. - The ORF is assessed on options transactions cleared by The Options Clearing Corporation (OCC) in the customer range. - The fee is collected from both members and non-members for all customer transactions executed on GEMX. - The rule text will be amended to clarify the ORF collection methodology. - The change is intended to ensure that ORF regulatory revenue does not exceed a material portion (capped at 82%) of the Exchange's options regulatory costs. - No products, services, OEMs, or vendors are being procured; this is a regulatory notice only.

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by Nasdaq GEMX, LLC to amend the Options Regulatory Fee (ORF). The proposal includes decreasing the ORF rate from $0.0116 to $0.0100 per contract side effective July 1, 2026, and a non-substantive amendment to the rule text describing the ORF collection methodology. The fee is assessed on options transactions cleared by The Options Clearing Corporation in the customer range and collected from members and non-members for all customer transactions executed on GEMX. The change aims to ensure that ORF revenue does not exceed a material portion of the Exchange's options regulatory costs.

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