Nasdaq BX (BX) Membership

Nasdaq BX (BX) offers a low-cost venue for trading U.S. equities – allowing for a separate Reg NMS-protected quote.

How to Become a BX Member

Firms are not required to be a Nasdaq or FINRA Member in order to become a BX member, but must be a member of at least one other Self-Regulatory Organization (SRO). Further information and guidance can be found in the BX Membership FAQs.

Nasdaq or FINRA members:

Firms that are Nasdaq or FINRA members may submit an abbreviated application form.

  1. Complete the BX Short Form Membership Application and Agreement
  2. Complete the Nasdaq Services Agreement if you do not have a signed Agreement on file.*
  3. Each application must be accompanied by a non-refundable check for $2000 made payable to Nasdaq BX.

*A signed Nasdaq Services Agreement is not required if your firm has already signed one in conjunction with its Nasdaq Stock Market membership or to participate in Nasdaq-administered services, such as TRF and TRACE.*.

Proprietary Trading Firms that art members of another SRO, but not Nasdaq or FINRA:

A Proprietary Trading Firm* that is not a member of Nasdaq or FINRA, but is a member of another SRO must submit a Full BX Membership Application and Agreement containing all of the Supplemental Information required under BX rules:

  1. Complete the Nasdaq BX Full Membership Application and Agreement.
  2. Complete the Nasdaq Services Agreement
  3. Each application must be accompanied by a non-refundable check for $2000 made payable to Nasdaq BX.

Completed application documents can be sent to:

Documents may be submitted in PDF format via email to: Membership@nasdaq.com


Alternatively, send applications to:

Nasdaq Membership Department
1900 Market Street, 2nd Floor
Philadelphia, PA 19103-3584

* A “proprietary trading firm” is defined as an applicant:

  • That is not required to become a member of FINRA but is a member of another exchange
  • Whose source of funds used for trading is the applicant’s own capital, trading through the applicant’s own accounts
  • That does not and will not have “customers” and whose principals and representatives who are acting as traders are owners of employees of or contractors to the applicant.

This page was last updated February 2015.

 

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