Federal Register #SR-ISE-2026-36

Nasdaq ISE Proposes Decrease to Options Regulatory Fee (ORF) and Rule Clarification

This notice details a proposed rule change by Nasdaq ISE, LLC regarding its Options Regulatory Fee (ORF): - Government buyer: Securities and Exchange Commission (SEC) - OEMs and vendors: - Nasdaq ISE, LLC (Exchange proposing the rule change) - The Options Clearing Corporation (OCC) (entity clearing the transactions) - Products/services requested: - Amendment to the Options Regulatory Fee (ORF) rate - Decrease from $0.0092 to $0.0080 per contract side - Applies to options transactions in the customer range cleared by OCC - Fee collected from both members and non-members for all customer transactions executed on ISE - Unique or notable requirements: - ORF regulatory revenue will be capped at 82% of the Exchange's options regulatory costs - Non-substantive amendment to clarify the ORF collection methodology in the rule text - Public comments are requested on the proposed rule change

Description

Nasdaq ISE, LLC has proposed a rule change to amend its Options Regulatory Fee (ORF) effective July 1, 2026. The proposal includes decreasing the ORF rate from $0.0092 to $0.0080 per contract side and a non-substantive amendment to the rule text describing the ORF collection methodology. The ORF 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 ISE. The fee change aims to ensure that ORF revenue does not exceed a material portion of the Exchange's options regulatory costs.

View original listing