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Friday, May 29, 2015

Equity Trader Alert #2015 - 81
Nasdaq Pricing Updates for June 1, 2015

Category:

  • Pricing

Markets Impacted:

Contact Information:

Resources:
Pending SEC filing, effective Monday, June 1, 2015, the following pricing updates will be in place for transactions on Nasdaq:
 
NBBO Program

Nasdaq will provide a rebate per share executed with respect to all other displayed orders (other than Designated Retail Orders, as defined in Rule 7018) in securities priced at $1 or more per share that provide liquidity and establish the NBBO. The rebate will be in addition to any rebate or credit payable under Rule 7018 and Rule 7014. To qualify for the $0.0002 per share executed NBBO Program rebate a member must either:

    (1) Execute shares of liquidity provided in all securities through one or more of its Nasdaq Market Center MPIDs that represents 0.475% or more of Consolidated Volume during the month, or
    (2) Add NOM Market Maker liquidity, as defined in Chapter XV, Section 2 of the Nasdaq Options Market rules, in Penny Pilot Options and/or Non-Penny Pilot Options above 0.90% of total industry customer equity and ETF option ADV contracts per day in a month.

Updates to Midpoint Pricing

Rebate to Add Non-Displayed Midpoint Liquidity, Shares Executed at or above $1.00 (Shares per Day)
Tape C
 Tapes A and B
 Liquidity Code
Firm adds greater than 5 million shares of midpoint liquidity and either adds Customer and/or Professional liquidity in Penny Pilot Options and/or Non- Penny Pilot Options of 1.40% or more of national customer volume in multiply-listed equity and ETF options classes in a month as pursuant to Chapter XV, Section 2 of the Nasdaq Options Market rules or adds 8 million shares of non-displayed liquidity
 $0.0025
 $0.0025
 k
Firm adds 6 million or more shares of midpoint liquidity
 $0.0020
 $0.0022 k
Firm adds 3 million or more shares of midpoint liquidity
 $0.0017 $0.0020  k
Firm adds 1 million or more shares of midpoint liquidity
 $0.0010
 $0.0018 k
Firm adds less than 1 million shares of midpoint liquidity
$0.0010 $0.0014
 k

Opening Cross

Firms that execute orders in the Nasdaq Opening Cross will be subject to fees for such executions up to a monthly maximum of $30,000, provided, however, that such firms add at least one million shares of liquidity, on average, per month.

For further details please visit the Pricing Page.







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