💼Nasdaq PHLX Proposes Changes to Options Transaction Fees
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Section 4
Summary
Nasdaq PHLX LLC proposes changes to its Options 7 regulations, adjusting transaction fees and incentive programs. Key amendments include replacing the Broker-Dealer Customer Facilitation waiver with a transaction cap and altering the Floor Broker Incentive Program to incorporate electronic QCC orders. These adjustments seek to encourage larger trade volumes and potentially enhance trading dynamics on the Exchange.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change from Nasdaq PHLX LLC involves amendments to transaction fees, an important aspect of operating costs for firms trading options. The amendments include the removal of a waiver for Broker-Dealer facilitation and the introduction of a transaction cap, which affects cost structures and potentially incentivizes larger trades. These changes require compliance adjustments from businesses engaged in options trading.