Federal Register #SR-Phlx-2026-44

SEC Notice: Nasdaq PHLX LLC Rule Change to Options 7, Section 4 (Trading Fees and Incentives)

This notice concerns a regulatory update from the Securities and Exchange Commission (SEC) regarding Nasdaq PHLX LLC's options trading fee structure. - Government buyer: Securities and Exchange Commission (SEC) - Vendor/OEM: Nasdaq PHLX LLC - No physical products or services are being procured; this is a regulatory action - Key changes to Nasdaq PHLX LLC's Options 7, Section 4 pricing schedule: - Non-Penny Symbol Floor Options Transaction Charge for Lead Market Makers and Market Makers increased from $0.50 to $1.00 per contract - Floor Broker Incentive Program modified: - New $0.20 per contract rebate for open outcry floor executions contra Lead Market Makers or Market Makers - Tier 4 rebate decreased from $0.22 to $0.20 per contract - Purpose: To incentivize order flow and participation in open outcry transactions on the trading floor - No specific products, part numbers, or purchase quantities involved; changes affect trading fees and incentives

Description

This notice pertains to a proposed rule change filed by Nasdaq PHLX LLC, which has been made effective immediately by the Securities and Exchange Commission (SEC). The rule change involves amendments to Options 7, Section 4, specifically modifying the Pricing Schedule to increase the Non-Penny Symbol Floor Options Transaction Charge for Lead Market Makers and Market Makers, and amending the Floor Broker Incentive Program to adopt a new Floor Broker rebate and amend the Tier 4 rebate. The changes aim to incentivize order flow and participation in open outcry transactions on the trading floor.

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