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The following changes are effective upon filing with the Securities and Exchange Commission (SEC):
Free to Post on EDGA with Midpoint Routing Strategy (RMPT)
Effective Friday, June 1, 2012, posting to the EDGA Exchange (EDGA) book via the Midpoint Routing Strategy (RMPT) will be free. This new rate will be returned with the PA flag.
Update to Investor Tier on EDGX
Effective Friday, June 1, 2012, the minimum added-to-removed ratio criteria for the EDGX Investor Tier will be reduced to 60%. Refer to footnote 13 in theEDGX Fee Schedule for more information.
Message Efficiency Investor Program
As announced in Trading Notice #12-18, effective Friday, June 1, 2012, Direct Edge will introduce a new Message Efficiency Incentive Program (MEIP). Members of EDGA and EDGX will receive standard rebates only in instances where the Member’s average monthly inbound message-to-trade ratio is at or less than 100 to 1. Members with a monthly average of more than 100 to 1 will have their rebate reduced by $0.0001 per share, regardless of the tier for which they would otherwise qualify. (Note: Inbound messages are defined to include orders, cancels, and cancel/replace messages.)
More Information
- EDGA Fee Schedule for June 2012 (upon filing with the SEC)
- EDGX Fee Schedule for June 2012 (upon filing with the SEC)
