Nasdaq leads push to reform options regulatory fee
A proposed rule change would pare costs for traders, raise them for banks, and defund smaller venues.
US exchange Nasdaq is leading an effort to reform equity options fees. It’s a move that could cut costs for traders and raise them for banks—but would also remove an important revenue source for smaller exchanges.
Exchanges routinely charge users an options regulatory fee (ORF) to cover the cost of monitoring cross-exchange transactions. But the fee’s application to trades ‘done away’ from a given exchange is a long-standing source of industry dissatisfaction.
Now, Nasdaq has filed with the
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