Federal Register #SR-NASDAQ-2026-063

Nasdaq Stock Market LLC Proposed Rule Change to Amend Transaction Fees at Options 7, Section 2

This opportunity involves a proposed rule change by Nasdaq Stock Market LLC, reviewed by the Securities and Exchange Commission (SEC). - Government Buyer: - Securities and Exchange Commission (SEC) - OEM/Vendor: - Nasdaq Stock Market LLC (OEM and vendor) - Scope of Change: - Amendment to transaction fees at Options 7, Section 2 - Specifically modifies the first alternative criteria for the Tier 5 rebate paid to Nasdaq Options Market (NOM) Market Makers - Lowers the monthly volume threshold for qualifying for the Tier 5 rebate from 1.25% to 0.85% of total industry customer equity and ETF option average daily volume (ADV) contracts per day - Purpose and Impact: - Makes it easier for NOM Market Makers to qualify for the Tier 5 rebate - Aims to incentivize additional liquidity provision in Penny Symbols - Benefits all market participants by encouraging more liquidity - Notable Requirements: - No specific products or purchase quantities are requested - The notice pertains to fee schedule amendments and rebate qualification criteria for market makers - The rule change is effective immediately and applies uniformly to all NOM Market Makers

Description

The Nasdaq Stock Market LLC has filed a proposed rule change to amend its transaction fees at Options 7, Section 2. The proposal modifies the first alternative criteria to qualify for the Tier 5 rebate paid to NOM Market Makers for adding liquidity in Penny Symbols by lowering the volume threshold from 1.25% to 0.85% of total industry customer equity and ETF option average daily volume contracts per day in a month. This change aims to incentivize NOM Market Makers to add additional liquidity in Penny Symbols on NOM, benefiting all market participants by increasing available liquidity. The proposal is effective immediately as filed with the Securities and Exchange Commission.

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