U.S. Exchange Membership

Membership is required to participate on the following U.S. equities and options exchanges:

  • Collectively - “Nasdaq,” “Nasdaq SROs” or “Exchanges”


  • The Nasdaq Stock Market LLC (“NQX”)
  • Nasdaq PSX (“PSX”)
  • Nasdaq BX, Inc. (“BX”)


  • Nasdaq PHLX LLC (“PHLX”)
  • The Nasdaq Options Market LLC (“NOM”)
  • BX Options (“BXO”)
  • Nasdaq ISE (“ISE”)
  • Nasdaq GEMX ("GEMX")
  • Nasdaq MRX (“MRX”)

Membership Eligibility

To be eligible for membership, participants must meet the following requirements:

  • Applicants must be a registered U.S. broker-dealer.
  • Applicants for NQX and BX must have a Designated Examining Authority (“DEA”), while broker- dealers that are exempt from FINRA membership may use PHLX to satisfy DEA requirements.
  • Applicants must be either an NSCC or OCC direct clearing member, or provide evidence of a clearing relationship with an approved Exchange clearing firm.

Approved FINRA members are automatically eligible for waive in membership on NQX and BX.

Membership approval on any one Nasdaq SRO qualifies a broker-dealer for an expedited application process when seeking to add membership on additional Nasdaq exchanges.

Please complete the Nasdaq Broker-Dealer Membership Application to be used when applying to any of the Nasdaq SROs for membership for the first time. Existing members seeking to add an additional Nasdaq SRO memberships should also use this Application.

Forms and Agreements

Supplemental membership forms and agreements:

Please submit completed application documents to Nasdaq Membership at Membership@nasdaq.com

Relevant application fees should be mailed to:

Nasdaq Membership
FMC Tower
2929 Walnut Street, 8th Floor,
Philadelphia, PA 19104

Contact Us

For questions regarding the application, supporting documentation or process

List of Members