Direct Edge® will introduce the following pricing changes effective Thursday, November 1, 2012, pending filing with the Securities and Exchange Commission (SEC).
Introducing New Step-up Take Tier on EDGX
Effective November 1, 2012, EDGX Exchange (EDGX®) will introduce a Step-up Take Tier where Members that meet both criteria below will receive an increased rebate of $0.0030 for adding liquidity and a discounted fee of $0.0028 for removing liquidity from EDGX.
- Add an average daily volume (ADV) of at least 2 million shares per day more than September 2012 ADV added to EDGX (“September Baseline”)
- Remove at least 0.40% total consolidated volume more than September 2012 Baseline
Affected Flags
|
Flag |
Description |
Fee/(Rebate) |
| Add Flags | ||
|
B |
Add liquidity to EDGX book (Tape B) |
($0.0030) |
|
V |
Add liquidity to EDGX book (Tape A) |
($0.0030) |
|
Y |
Add liquidity to EDGX book (Tape C) |
($0.0030) |
|
3 |
Add liquidity – pre & post market (Tapes A or C) |
($0.0030) |
|
4 |
Add liquidity – pre & post market (Tape B) |
($0.0030) |
| Remove Flags |
||
|
N |
Remove liquidity from EDGX book (Tape C) |
$0.0028 |
|
W |
Remove liquidity from EDGX book (Tape A) |
$0.0028 |
|
BB |
Remove liquidity from EDGX book (Tape B) |
$0.0028 |
|
PI |
Remove liquidity from EDGX book against the Midpoint Match |
$0.0028 |
|
6 |
Remove liquidity – pre & post market (All Tapes) |
$0.0028 |
Updates to Support PSX Pricing Changes on EDGA and EDGX
The following flags will be updated on both (EDGA Exchange) EDGA® and EDGX to support changes to NASDAQ OMX PSX fee schedule that were effective October 1, 2012:
|
Flag |
Description |
Fee/(Rebate) Per Share |
|
K |
Routed to PSX using ROUC or ROUE routing strategies |
$0.0028 |
|
RS |
Routed to PSX, adds liquidity |
($0.0026) |
More Information
- EDGA Fee Schedule for November 2012 (pending filing with the SEC)
- EDGX Fee Schedule for November 2012 (pending filing with the SEC)
