# Federal Register #SR-PHLX-2026-61

Nasdaq PHLX proposes higher Tier 1 rebates for multiply listed options

**Buyer:** Securities and Exchange Commission
**Posted:** October 19, 2026
**Respond By:** November 10, 2026
**Identifier:** SR-PHLX-2026-61

This SEC notice covers a Nasdaq PHLX LLC rule change to rebates for multiply listed options, not a government purchase of products or services.
- **Government/regulatory entities:** The Securities and Exchange Commission (SEC) published the notice; Nasdaq PHLX LLC filed the proposed change.
- **Pricing changes:** The Tier 1 Floor Broker Incentive Program rebate increases from $0.04 to $0.07 per contract for qualifying volume with a customer on one side, and from $0.10 to $0.18 per contract when both sides are non-customers.
- **Other revision:** Examples are updated to reflect the new Tier 1 rebates and corrected to show the existing Tier 4 non-customer rebate of $0.20 per contract. The Tier 4 example correction is described as non-substantive.
- **Status and requirements:** The rule change became effective upon filing; the SEC invited public comments.
- **Procurement scope:** No products, services, quantities, part numbers, OEMs, or contract value are identified.

### Description

Nasdaq PHLX LLC filed a proposed rule change to amend its Pricing Schedule at Options 7, Section 4, concerning multiply listed options fees. The changes include increasing Tier 1 per-contract rebates in the Floor Broker Incentive Program and revising examples to reflect the rebate changes. The filing also corrects an example to reflect a previously reduced Tier 4 rebate; the source states this correction is not substantive. The rule change became effective upon filing, and the SEC invited comments.

[View original listing](https://www.federalregister.gov/documents/2026/10/19/2026-21247/self-regulatory-organizations-nasdaq-phlx-llc-notice-of-filing-and-immediate-effectiveness-of)