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Effective Monday, June 3, 2013, EDGX Exchange (EDGX®) will update the Mega Tier criteria for Members to qualify for the $0.0035 per share rebate to add liquidity and $0.0015 per share fee to remove and/or route liquidity, pending filing with the Securities and Exchange Commission (SEC). Members can qualify for the Mega Tier if all of the following criteria are met:
- Add or route at least four million shares in average daily volume (ADV) prior to 9:30 a.m. or after 4:00 p.m.
- Add a minimum of 35 million shares overall, including pre- and post-market sessions
- Have an “added liquidity” to “added plus removed liquidity” ratio of at least 85% where added flags are defined as B, V, Y, 3, 4, HA, MM, RP, and ZA and removal flags are defined as N, W, 6, BB, MT, PI, PR, and ZR
Refer to footnote 1 in the EDGX Fee Schedule for additional details.
More Information
- Refer to Direct Edge Trading Notice #13-21 for additional fee schedule changes effective June 3rd.
- EDGX Fee Schedule for June 2013 (pending filing with the SEC)
