16 Apr 2025
💵Nasdaq PHLX Proposes Changes to Customer Rebate Program
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Phlx Options 7, Section 2
Summary
Nasdaq PHLX LLC has filed a proposed rule change to amend its Customer Rebate Program, stipulating that if a member qualifies for multiple rebates, only the highest will be paid monthly. This change aims to streamline rebate payments while continuing to incentivize order execution against customer orders.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change affecting member organization rebates impacts the financial incentives for businesses engaged with Nasdaq PHLX. By limiting rebate payments to only the highest qualifying amount between two sets of incentives, businesses must strategize volume execution to maximize rebates under the new structure.