EDGA ExchangeSM (EDGA®) and EDGX ExchangeSM (EDGX®) have updated the definitions and general notes sections of the fee schedules. Effective Thursday, May 1, 2014, shares executed on the following days will be excluded from the monthly Average Daily Volume (ADV) and Total Consolidated Volume (TCV) for tier calculations: (i) day of the Russell Rebalance; and (ii) any day where we experience a system disruption lasting more than 60 minutes during Regular Trading Hours.
In addition, Members may aggregate their monthly ADV calculation amongst control affiliates to achieve tier-based pricing. Control affiliates are considered Members that control, are controlled by, or are under common control with such Member (as evidenced on such Member’s Form BD). Previously, Members were required to be wholly-owned affiliates in order to aggregate their monthly ADV. Members who are control affiliates that wish to aggregate their monthly ADV on a prospective basis must complete an Aggregate Volume Application and submit to Member Services prior to the end of the month for which they wish to begin aggregating ADV. Current Members who aggregate ADV with wholly owned affiliates will be considered as being under common control and continue to be able to aggregate their monthly ADV for purposes of achieving tier-based pricing.
More Information
- Refer to the EDGA and EDGX Rule Filings on the SEC website.
- EDGX Fee Schedule for May 2014
- EDGA Fee Schedule for May 2014
