Wednesday, July 27, 2011

Equity Trader Alert #2011 - 37
NASDAQ OMX Announces Free ACES Executions for New Market Makers and Other Fee Updates

What you need to know:

  • For the period of August 1, 2011 to January 1, 2012, executions via ACES will be free for new ACES Market Makers*.
  • Also, beginning August 1, 2011, the new relationship fee for ACES will be $0.15 per execution.

What is changing?

For the period of August 1, 2011 to January 1, 2012, executions via ACES will be free for new ACES Market Makers*. Also, beginning August 1, 2011, the new relationship fee for ACES will be $0.15 per execution.

What is ACES?

ACES is an order routing system that allows users to route orders between order entry firms and market makers that have established relationships. ACES provides the benefits of an advanced order routing tool without the start-up costs of a stand-alone system. ACES streamlines routine order entry by routing orders directly into the market makers’ internal system for execution and routing the execution notification back to the order entry firms.

ACES can be use to route ANY type of order across asset classes including U.S. equities, options, over-the-counter and more.

How do I qualify as a new ACES Market Maker to take advantage of the free period?

If you have not executed and/or received order flow via ACES from an order entry firm between January 1, 2011 and July 31, 2011, you will be able to qualify for the free execution promotion for new Market Makers.

What is the new fee for executions for "new relationships"?

Beginning August 1, 2011, the new relationship fee for ACES will be $0.15 per execution.

What defines a new relationship?

A new relationship is created when a market maker has no existing ACES routing relationship with a particular order entry firm.

Who are the current ACES Market Makers?

A list of current ACES Market Maker participants is available on the NASDAQ OMX Trader® website.

What do I need to do to establish a new relationship?

Contact NASDAQ OMX Trade Desk at +1 212 231 5100 to establish a new ACES relationship.

Which connectivity methods are supported by ACES?

You can connect to ACES via:

Where can I find additional information?

*Promotional pricing only applies to new Market Maker firms, not pre-existing firms that add a new MPID to receive the promotion. Any firm not complying will be backed billed for all trades during that time frame.


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