Federal Register #SR-PHLX-2026-71

SEC notice on Nasdaq PHLX displayed-liquidity credits and transaction fees

The SEC notice covers proposed changes to Nasdaq PHLX’s displayed-liquidity credits and transaction fees, not a government purchase. - Government agency: U.S. Securities and Exchange Commission (SEC). - Filing entity: Nasdaq PHLX LLC; the proposal concerns displayed quotes and orders on Nasdaq PSX under PHLX Equity 7, Section 3. - Proposed changes: Replace three volume-based credit tiers with a $0.0020-per-share-executed credit for displayed liquidity, regardless of monthly volume, and eliminate a supplemental $0.00005-per-share credit for qualifying members. - This is a regulatory notice, not a solicitation; no products or services, quantities, or part numbers are requested.

Description

Nasdaq PHLX LLC proposes amendments to its transaction fees at PHLX Equity 7, Section 3. The proposal streamlines credits for member organizations providing displayed liquidity on Nasdaq PSX by eliminating three volume-based tiers and applying a $0.0020-per-share credit to displayed quotes and orders regardless of monthly volume. It also eliminates a supplemental displayed-liquidity credit. The changes became effective upon filing and were stated to become operative on November 2, 2026.

View original listing