Nasdaq proposes fee waivers for Night Session ports, effective Sep 1
Nasdaq member firms can obtain up to five Night Session ports of each type free of charge beginning Sep. 1, 2026.
On August 20, 2026, The Nasdaq Stock Market LLC filed a proposed rule change under Section 19(b)(1) of the Exchange Act to amend Exchange Rule Equity 7, Sections 115 and 130. The SEC published the notice on August 28, 2026 to solicit comments.
The amendment clarifies fees for ports that connect members to Nasdaq's Night Session trading environment, defined as the period from 9:00 p.m. to 4:00 a.m. Eastern Time Sunday through Thursday. Current monthly fees are $575 per port for FIX Trading, OUCH, and CORE FIX ports; $500 per port for OUCH Purge and FIX Purge ports; and $550 per port for DROP ports.
Nasdaq proposes to waive fees for the first five Night Session ports of each applicable type - FIX Trading, OUCH, CORE FIX, OUCH Purge, FIX Purge, and DROP - ordered by a member organization. The fee waiver takes effect on September 1, 2026. Beginning with the sixth port of each type, the standard fee set out in Equity 7 will apply.
The notice also references the Nasdaq Testing Facility (NTF), where access fees are $300 per port per month under Section 130(d). Nasdaq proposes an amendment to this section, though the specific change is not detailed in the excerpt.
Comments on the proposed rule change may be submitted in accordance with Rule 19b-4. Absent further action by the Commission, the fee structure, including the waivers, will become effective on September 1, 2026.
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