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.