Nasdaq GEMX NDX Options Surcharge Rule Change
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
Nasdaq GEMX is changing how it charges a surcharge on Nasdaq-100 Index options orders under its Options 7, Section 3 pricing schedule. The notice says the exchange currently charges Non-Priority Customer electronic simple NDX orders that remove liquidity an extra $1.50 per contract, on top of the standard $0.75 transaction charge. The practical impact is on broker-dealers, market makers, firms, and other Non-Priority Customer participants trading NDX options on GEMX. Compliance and trading teams should review the updated fee schedule to understand when the surcharge applies and how it changes execution costs.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Amends GEMX Options 7, Section 3 pricing for Nasdaq-100 Index options
- Changes the surcharge treatment for electronic simple NDX orders from Non-Priority Customers
- May affect transaction cost calculations for firms trading NDX options on GEMX
Obligations
What this law requires
Non-Priority Customer participants submitting electronic simple Nasdaq-100 Index (NDX) options orders on Nasdaq GEMX that remove liquidity must pay the applicable NDX surcharge under GEMX Options 7, Section 3, in addition to the standard transaction charge.