What is Nasdaq, Inc.'s section 31 fees payable to SEC?

Nasdaq, Inc. (NDAQ) reported section 31 fees payable to SEC of $0 in Q1 2026.

How has Nasdaq, Inc.'s section 31 fees payable to SEC changed year-over-year?

Nasdaq, Inc.'s section 31 fees payable to SEC increased by 100.0% year-over-year, from -$55M to $0.

What does section 31 fees payable to SEC mean?

Tracks the change in regulatory fees collected from market participants and owed to the SEC. Because these fees are pass-through in nature, changes in this liability reflect the timing of regulatory remittance rather than company performance. It is a specific working capital item unique to exchange operators.

Nasdaq, Inc. NDAQ Section 31 fees payable to SEC

Section 31 fees payable to SEC at other companies

Cboe Global MarketsCBOE

$0+100%

Cboe Global MarketsCBOE

$200K-99.9%

Intercontinental ExchangeICE

$0-100%

RobloxRBLX

$423M+50.0%

Intercontinental ExchangeICE

$0+100%

ATH

Aether Holdings, Inc. Common StockATHR

$78.07K+2,170%

Other financials

Income statement

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Revenue$2.1B+2.0%

Gross profit$1.4B+13.7%

Operating income$657.0M+20.1%

Net income$519.0M+31.4%

EPS (diluted)$0.91+33.8%

Balance sheet

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Cash & equivalents$1.1B-76.0%

Total debt$9.9B-2.2%

Total equity$12.0B+4.2%

Total assets$27.3B-10.9%

Cash flow

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Operating cash flow$689.0M+3.9%

CapEx$60.0M+22.4%

Free cash flow$629.0M+2.4%

Valuation

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Market cap$44.58B-5.7%

Enterprise value$53.39B-0.1%

P/E23.3×-8.0×

P/S5.4×-0.5×

Profitability

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Gross margin65.2%+4.2pp

Operating margin29.4%+4.6pp

Net margin23%+6.7pp

FCF margin24.1%+0.4pp

Returns & leverage

See full

Return on equity16.2%+4.8pp

Debt / equity0.8×-0.1×

Current ratio1×0.0×

Where this comes from

Reported directly by Nasdaq, Inc. in its filing.

Tagged under the XBRL concept ndaq:IncreaseDecreaseInSection31FeesPayable.

The official record: Nasdaq, Inc.’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Nasdaq, Inc.'s section 31 fees payable to SEC?: Nasdaq, Inc. (NDAQ) reported section 31 fees payable to SEC of $0 in Q1 2026.
How has Nasdaq, Inc.'s section 31 fees payable to SEC changed year-over-year?: Nasdaq, Inc.'s section 31 fees payable to SEC increased by 100.0% year-over-year, from -$55M to $0.
What does section 31 fees payable to SEC mean?: Tracks the change in regulatory fees collected from market participants and owed to the SEC. Because these fees are pass-through in nature, changes in this liability reflect the timing of regulatory remittance rather than company performance. It is a specific working capital item unique to exchange operators.