Nasdaq PHLX Updates Options Pricing, Rebates, and Port Fee Text
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
Nasdaq PHLX changes parts of its options pricing schedule. The filing adjusts customer rebate qualifications, changes surcharges for Nasdaq-100 Index options and P.M.-settled NDX options, and removes outdated port-fee language tied to a past migration. The impact is mainly on broker-dealers, market makers, and firms trading or routing options on PHLX. Compliance and trading operations teams should review the updated pricing schedule to see whether rebate eligibility, index-option costs, or port-fee references affect their trading economics or billing checks.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Updates qualification rules for the PHLX customer rebate program.
- Changes surcharges for NDX and P.M.-settled NDX options.
- Removes outdated port-fee language related to a past migration.
Obligations
What this law requires
Broker-dealers, market makers, and other firms trading options on Nasdaq PHLX must apply the amended Options 7, Section 2 Customer Rebate Program tier qualifications when determining eligibility for customer rebates.
Firms trading Nasdaq-100 Index options or P.M.-settled NDX options on Nasdaq PHLX must account for the amended index-option surcharges in billing, trading-cost, and routing calculations.
Nasdaq PHLX options participants must disregard the removed outdated port-fee language tied to the prior migration when reconciling applicable port fees under Options 7, Section 9B.