Federal Register #SR-PHLX-2026-50

Nasdaq PHLX LLC Proposed Rule Change to Options Pricing Schedule

This notice concerns a proposed rule change by Nasdaq PHLX LLC, as published by the Securities and Exchange Commission (SEC): - Government buyer: - Securities and Exchange Commission (SEC) - OEM/vendor: - Nasdaq PHLX LLC (the only OEM/vendor mentioned) - Key details of the proposed rule change: - Amends the PHLX Pricing Schedule at Options 7 - Section 2: Customer Rebate Program - Section 4: Multiply Listed Options Fees - Modifies rebate amounts for Customer PIXL Orders that execute against PIXL Initiating Orders - Discontinues the Broker-Dealer Transaction Cap in Multiply Listed Options Fees - Aims to enhance market competition and fairness by uniformly applying revised rebates and removing transaction caps - No products or services are being procured; this is a regulatory change affecting fee structures and rebate programs for exchange members and participants - No part numbers, quantities, or procurement-specific requirements are present, as this is not a purchasing action

Description

This notice announces a proposed rule change filed by Nasdaq PHLX LLC with immediate effectiveness. The rule change amends the PHLX Pricing Schedule specifically at Options 7, Sections 2 and 4, which cover the Customer Rebate Program and Multiply Listed Options Fees respectively. The amendments include modifications to rebate amounts for Customer PIXL Orders and the discontinuation of the Broker-Dealer Transaction Cap. The changes aim to adjust pricing and rebate structures to remain competitive and equitable among market participants.

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