Friday, July 31, 2020
Equity Trader Alert #2020 - 46
Nasdaq & BX Pricing Updates Effective August 3, 2020
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Pending filing with the SEC, the following pricing changes will be effective Monday, August 3, 2020, for Nasdaq. Amended Rebates to Add Displayed LiquidityThe current display add tier requiring firms add “Greater than 0.75% add and 5M ADV of non-display” will be updated to:
The current display add tier providing firms a $0.0030 will be updated to:
New Rebates to Add Displayed LiquidityThe following new display rebates will be added:
Rebate to Add Other Non-Displayed Liquidity
Amended Nasdaq Closing Cross Tier RequirementsThe current cross tier providing firms an execution fee of $0.0008 will be updated to:
Amended Nasdaq Qualified Market Maker (QMM) ProgramThe current QMM criteria providing firms a discounted remove fee of $0.00295 or $0.0029 will be updated to: QMMs that execute shares of liquidity provided in all securities through one or more of its Nasdaq Market Center MPIDs that represent The current QMM criteria providing firms an additional rebate of $0.00005 will be updated to: A Member’s MPID may qualify for an additional rebate of $0.00005 in all Tapes in addition to the Tier 2 QMM incentive by 1. MPID adds greater than 1.25% TCV; 2. MPID maintains a one- or two-sided quote, of at least one round lot at the NBBO in an average of at least 2,700 securities for at least New fee for removing liquidity using the RFTY routing strategy (Retail Order Process):
Pending filing with the SEC, the following pricing changes will be effective Monday, August 3, 2020, for Nasdaq BX. New Rebate to Remove LiquidityThe following new rebate will be added:
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