Nasdaq PHLX (PHLX) Membership
Nasdaq PHLX (PHLX) is one of the largest U.S. options exchange trading equity options, index options and currency options. PHLX operates on a combination of high-speed electronic options technology and floor-based, broker trading.
Utilizing the same SRO, Nasdaq launched Nasdaq PSX (PSX) in October 2010. PSX operates on a price setter pro rata execution model and provides an incentive for greater displayed size while also encouraging participants to aggressively compete on price.
How to Become a PHLX Member
To qualify for PHLX membership, the applicant must be a registered broker dealer under the Exchange Act. All applicants are subject to PHLX qualification and registration requirements which are set forth in PHLX Rules 611 to 620.
To become a PHLX Member:
- Complete and submit the Organization Membership Application.
- Firms that are not self-clearing need to complete a Letter of Guarantee. Self-clearing firms need to complete this Letter of Guarantee.
Completed application documents can be sent to:
Send applications along with all relevant supplemental material (See Sections O and P of application) to Membership@nasdaq.com.
To note, PHLX new member applications are processed by the Nasdaq Membership Department. Inquiries regarding the submission and processing of a new member application should be directed to the Department at +1 215 496-5322 or via email to firstname.lastname@example.org. The review process will not begin until a complete application, including relevant supplemental material, is received by the Membership Department.
Applicants are subject to a non-refundable application fee of $350.00 which does not apply if applicant intends to engage in business only on the PSX equity platform. The application fee should be mailed to:
Nasdaq Membership Department
1900 Market Street, 2nd Floor
Philadelphia, PA 19103
This page was last updated February 2015.