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Friday, February 26, 2021

Equity Trader Alert #2021 - 13
Nasdaq Pricing Updates Effective March 1, 2021

Category:

  • Pricing

Markets Impacted:

Contact Information:

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Pending filing with the SEC, the following pricing changes will be effective Monday, March 1, 2021, for Nasdaq.

Amended Rebates to Add Displayed Liquidity

The current $0.0030 display add credit that applies to firms adding “greater than 1.00% add and add 0.25% TCV of non-display” will be updated to:

Per Share Executed Liquidity Code
Greater than 0.95% add and add 0.25% TCV of non-display $0.0030 A, 7, 8, a, x or y

The current $0.00295 display add credit that applies to firms adding “greater than 0.50% TCV; and 0.35% or greater are Tape C securities; and 0.15% or greater are Designated Retail orders” will be updated to:

Per Share Executed Liquidity Code
  1. Add greater than 0.80% TCV; and
  2. 0.35% or greater are Tape C securities; and
  3. 0.15% or greater are Designated Retail orders
    		 $0.00295 A, 7, 8, a, x or y

    New Rebates to Add Other Non-Displayed Liquidity

    The following new non-display rebates will be added:

    Per Share Executed Liquidity Code
    Firm (i) provides 0.30 TCV through non-displayed orders (other than midpoint orders) and (ii) Grows add non-display by 10% vs February 2021 non-display ADV $0.00125 in Tape A & B, $0.00075 in Tape C J or N

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