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Effective Tuesday, October 1, 2013, Direct Edge® will introduce the following pricing changes on the EDGX ExchangeSM (EDGX®), pending filing with the Securities and Exchange Commission (SEC).
Introducing Market Depth Tier 2
EDGX will introduce a new Market Depth Tier offering an increased rebate of $0.0029 per share for Members that meet the following criteria:
• Adds at least 10 million shares in average daily volume (ADV) for the month
• Adds at least 1 million shares of non-displayed liquidity, which yield Flag HA
Higher Rebate for the Tape B Step-Up Tier
EDGX will increase the rebate for Members qualifying for the Tape B Step-Up Tier to $0.0027 per share. The criterion to qualify for this tier will remain unchanged. See footnote 2 in the EDGX Fee Schedule for more details.
Lower Remove Fee for Mega Tier 3
EDGX will update Mega Tier 3 to include a reduced removal fee of $0.00295 per share. The criteria to qualify for this tier and the rebate to add of $0.0032 per share will remain unchanged. See footnote 1 in the EDGX Fee Schedule for more details.
Lower Criteria for MidPoint Match Volume Tier
EDGX will update the criteria to qualify for the Midpoint MatchSM Volume Tier. Members that meet the following criteria will not be charged any fee to add liquidity yielding Flag MM:
• Add and/or remove at least 2.5 million shares in ADV for the month on EDGX, yielding flags MM and/or MT.
Update to Mega Tier 1
EDGX will update the fee for removing and/or routing liquidity for Members that qualify for Mega Tier 1 to $0.0029 per share. The criteria to qualify for this tier will remain unchanged. See footnote 1 in the EDGX Fee Schedule for more details.
- EDGX Fee Schedule for October 2013 (pending filing with the SEC)
