Search Results for keywords:"Market Makers exclusion"

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Search Results: keywords:"Market Makers exclusion"

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  • 2024-29920 — Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a New Approach to the Options Regulatory Fee (ORF) in 2025
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    Type:Notice
    Citation:89 FR 103017
    Reading Time:about 37 minutes

    Nasdaq MRX, LLC has introduced a new approach for calculating the Options Regulatory Fee (ORF) starting January 1, 2025, which differentiates fees based on where trades occur. The revised system will exclude Market Makers from the ORF and categorize trades under different rates depending on whether they occur on MRX or other exchanges. This update aims to refine the collection of ORF to more precisely cover regulatory costs and ensure no overlap with fees charged by other exchanges. The new method will expire on July 1, 2025, after which the previous fee structure will resume.

    Simple Explanation

    Nasdaq MRX is changing how they charge fees for trading options to make sure they only cover the costs of keeping things fair and safe. From the start of 2025, they'll have two different rates for trades depending on where they happen, but market makers won't have to pay these fees for a while.

  • 2024-29624 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a New Approach to the Options Regulatory Fee (ORF) in 2025
    💰
    Type:Notice
    Citation:89 FR 102215
    Reading Time:about 37 minutes

    Nasdaq ISE, LLC has proposed a change to how it collects the Options Regulatory Fee (ORF) starting January 1, 2025. The new approach will see ORF being applied to a broader range of transactions, excluding those by Market Makers, and at different rates for transactions happening on ISE versus other exchanges. These changes aim to better align the fees with regulatory costs and make the fee system fairer for different market participants. This proposal will automatically expire on July 1, 2025, returning to the previous ORF structure unless further action is taken.

    Simple Explanation

    Nasdaq ISE wants to change a small fee called the Options Regulatory Fee (ORF) starting in 2025 to make sure it matches the costs of policing the market. They will charge this fee differently depending on where trading happens, but won't charge it to certain big traders to keep things fair.