31 Jul 2025
📈Nasdaq BX Proposes New Options Regulatory Fee Structure
Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Methodology for its Options Regulatory Fee (ORF) as of January 2, 2026
Summary
Nasdaq BX has filed a proposed rule change to modify the Options Regulatory Fee (ORF) methodology, focusing on transactions executed and cleared within its exchange. This change, effective January 2, 2026, aims to align regulatory costs with the financial activities of market participants while continuing to monitor revenue generation from the ORF to ensure it does not exceed regulatory costs.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed changes to the Options Regulatory Fee (ORF) affect compliance and regulatory requirements for businesses involved in options trading, particularly as the ORF methodology and rate will change significantly beginning January 2, 2026. This impacts operational finances for market participants and can affect their pricing strategies.