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Tier Calculations Update
Effective Monday, December 9, 2013, through Friday, January 31, 2014, EDGA ExchangeSM (EDGA®) and EDGX ExchangeSM (EDGX®) will exclude odd lot executions from TCV calculations used for determining volume tiers, pending filing with the Securities and Exchange Commission (SEC).
Pricing Changes
Effective Monday, December 2, 2013, Direct Edge® will introduce the following pricing changes on the EDGA and EDGX exchanges, pending filing with the SEC.
Updates to EDGA Step-Up Tiers
EDGA will update the baseline for both Step-Up Tier 1 and Step-Up Tier 2. A single MPID will qualify for a reduced fee to add liquidity to EDGA by stepping up from either the MPID’s December 2012 or September 2013 added average daily volume (ADV), whichever is lower. MPIDs with an ADV of zero for December 2012 and September 2013 will receive a default baseline of 10,000,000 shares. See footnote 4 in the EDGA Fee Schedule for more details.
Updates to EDGX Market Depth Tier 1
EDGX will update Market Depth Tier 1 so that Members that meet the following criteria can earn an increased rebate of $0.00325 per share.
- Add greater than or equal to 0.85% of the total consolidated volume (TCV) in ADV on EDGX in total; and
- Add at least 4 million shares as Non-Displayed Orders that yield Flag HA
See footnote 1 in the EDGX Fee Schedule for more details.
Flag RS Retirement
EDGA and EDGX will retire Flag RS. Firms will no longer be able to route via EDGA or EDGX to post on NASDAQ OMX PSX.
More Information
- EDGX Fee Schedule for December 2013 (pending filing with the SEC)
- EDGA Fee Schedule for December 2013 (pending filing with the SEC)
