Effective Monday, December 1, 2014, EDGA ExchangeSM (EDGA®) and EDGX ExchangeSM (EDGX®) will make the following fee schedule changes, pending filing with the Securities and Exchange Commission (SEC).
EDGX Retail Order Tier
EDGX will update the criteria for qualifying for a $0.0034 per share rebate for Retail Orders that add liquidity yielding Flag ZA. Members will qualify for the increased rebate by adding an average daily volume (ADV) of Retail Orders (Flag ZA) that is .07% or more of Total Consolidated Volume (TCV) on a daily basis, measured monthly, a reduction from .10%. In addition, the requirement to have an ”added liquidity” to “added plus removed liquidity” ratio of at least 85% will be eliminated.
Tier Calculation Update
EDGA and EDGX will include Members’ internalized volume in tier qualification calculations. Flags EA, ER and 5 will be added to the list of added flags and removal flags that are counted towards tiers. Members’ monthly volume in Flag 5 will be divided evenly between added and removal flags.
More Information
- EDGX Fee Schedule for December 2014 (pending filing with the SEC)
- EDGA Fee Schedule for December 2014 (pending filing with the SEC)
