Agreements & Forms
- Firms must be NASDAQ members and need to complete the Options Participant Application.
- Firms that are not self clearing should review the NASDAQ specs to understand how OCC Optional data is handled and discuss this with their clearing firm. These firms also need to complete a Letter of Guarantee (PDF). Self clearing firms need to complete this Letter of Guarantee.
- Complete a Options Port Request Form (PDF) to NASDAQ Subscriber Services via fax to 212.231.5426.
- Also, firms can sign-up for specific email updates on trading Options on NASDAQ.
Unless otherwise noted, all forms must be submitted to the NASDAQ Membership Department.
Option Market Participants
Options Order-Entry Firms (OEFs) - Participants representing customer orders as agent on The NASDAQ Options Market and non-market maker participants conducting proprietary trading as principal. There are no restrictions on an OEF’s ability to enter orders on both sides of the market.
Options Market Makers - Participants registered with the exchange as options market makers and registered with The NASDAQ Options Market in an options series listed on The NASDAQ Options Market. To become an options market maker, an options participant is required to register by filing a written application. Such registration consists of at least one series and may include all series traded on the exchange. The NASDAQ Options Market does not place any limit on the number of entities that may become options market makers.
Market Maker Responsibilities
Market makers in The NASDAQ Options Market have the responsibility to:
- Maintain a two-sided market
- Participate in the Opening Auction
- Execute no more than 25% of their contracts in a series in which they are not a market maker.
Options Symbology Initiative
The NASDAQ Options Market fully supports the Options Clearing Corporation’s (OCC) industry-wide initiative to update and streamline options symbology methodology. Read our Symbology FAQs to learn more about the Options Symbology Initiative.
Customer testing is available on a daily basis in the NASDAQ Testing Facility.