Search Results for keywords:"market data fees"

Nasdaq PHLX LLC has proposed changes to its fees for data products related to options trading. The changes would increase monthly fees for Internal and External Distributors for the Top of PHLX Options (TOPO), PHLX Orders, and TOPO Plus Orders, while keeping the fees for Non-Professional and Professional Subscribers the same. The proposal highlights that these changes will align Nasdaq PHLX's fees with those of other exchanges, and aims to provide a fair allocation of costs among users. The Securities and Exchange Commission is reviewing the proposed changes and seeking public comment before making a final decision.

The Securities and Exchange Commission (SEC) disapproved a proposed rule change by The Nasdaq Stock Market LLC concerning increased fees for certain market data and connectivity products. Nasdaq suggested increasing fees for firms that do not meet a minimum average daily displayed volume while maintaining lower fees for those who do. The SEC found that Nasdaq did not provide sufficient evidence that the proposed fees would be reasonable or fair, or that they would not harm competition. Additionally, the SEC was concerned that the pricing structure could unfairly disadvantage market participants who choose to trade on other exchanges.

MIAX Emerald, LLC has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to introduce fees for market data products including Top of Market (ToM), Administrative Information Subscriber (AIS) feed, and MIAX Order Feed (MOR). These changes aim to end a previous waiver period where market data fees were not charged, establishing new monthly fees for internal and external distributors. The exchange justifies these fees by detailing the costs involved in providing these data products and argues that the fees are fair, reasonable, and necessary to cover increased expenses while maintaining transparency and competitiveness. The proposed fees are designed to comply with regulatory requirements and are intended to create a fair allocation of costs among users.