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Product LoginThursday, January 28, 2010
Options Trader Alert #2010 - 7
NASDAQ OMX PHLX to Modify Transaction Fee Caps for Specialists and Registered Option Traders
Markets Impacted:
- NASDAQ OMX PHLX
Contact Information:
- Transaction Services U.S. Market Sales at +1 800 846 0477
What you need to know:
- NASDAQ OMX PHLX will modify the equity option transaction fee cap for Specialists and Registered Option Traders.
- The new fee cap will be $750,000 for trades settling on or after Monday, February 1, 2010 (trade date January 29, 2010).
- The transaction fee cap does not apply to electronic trading in C, IWM, SPY and QQQQ options.
What is changing?
For trades settling on or after Monday, February 1, 2010 (trade date January 29, 2010), the NASDAQ OMX PHLXSM (PHLX®) equity option transaction fee cap for Specialists and Registered Option Traders (ROTs) will be $750,000. The cap is currently set at $900,000.
Does the fee cap apply to all transactions?
No, the fee cap does not apply to electronic trading in C, IWM, SPY and QQQQ options.
Will transactions by Specialists and ROTs be aggregated?
Specialists and ROTs with 75% common ownership are eligible for aggregation of their transactions for purposes of applying the fee cap.
Where can I find more information?
- Refer to the PHLX fee schedule for a complete list of current fees.
- Contact Transaction Services U.S. Market Sales at +1 800 846 0477.
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