The following changes are effective Monday, July 2, 2012, pending filing with the Securities and Exchange Commission (SEC):
New Market Depth Tier on EDGX
Effective Monday, July 2, 2012, EDGX Exchange will introduce a new Market Depth tier. Firms that meet both the following requirements will be eligible to receive a rebate of $0.0033 per share:
- Add .5% or more of the Total Consolidated Volume (TCV) in Average Daily Volume (ADV) for the month on EDGX
- At least 2 million of the .5% TCV shares must be non-displayed liquidity (Flag HA) in ADV for the month
Flags to Support ROUQ on EDGX
Effective Monday, July 2, 2012, EDGX will introduce a reduced rate to route or remove liquidity using the ROUQ order type. Orders that are routed or remove liquidity using the ROUQ order type will receive the following flags:
|
Flag |
Description |
Fee |
|
RQ |
Routed using ROUQ routing strategy |
$0.0027 |
|
PR |
Remove liquidity using ROUQ routing strategy |
$0.0027 |
Flags to Support Midpoint Discretionary Order (MDO) on EDGA
As announced in Direct Edge Trading Notice #12-23, effective July 18, 2012, EDGA Exchange will introduce the Midpoint Discretionary Order Type. Non-displayed orders that execute using the MDO will receive the following flags:
|
Flag |
Description |
Fee |
|
DM |
Non-Displayed Orders, adds liquidity (using Midpoint Discretionary order type) |
$0.0005 |
|
DT |
Non-Displayed Orders, removes liquidity (using Midpoint Discretionary order type) |
$0.0005 |
Updates to Support PSX Pricing Changes on EDGA and EDGX
The following flags have been updated to support changes to NASDAQ OMX PSX fee schedule effective July 2, 2012:
|
Flag |
Description |
Fee |
|
K |
Routed to PSX using ROUC or ROUE routing strategies |
$0.0005 |
|
RS |
Routed to PSX, adds liquidity |
$0.0005 |
More Information
- EDGA Fee Schedule for July 2012 (pending filing with the SEC)
- EDGX Fee Schedule for July 2012 (pending filing with the SEC)
