Effective Thursday, August 1, 2013, Direct Edge® will introduce the following pricing changes on the EDGA ExchangeSM (EDGA®) and EDGX ExchangeSM (EDGX®), pending filing with the Securities and Exchange Commission (SEC).
EDGA Add/Remove Rate Update
EDGA will decrease the standard fee for adding liquidity to $0.0005 per share. In addition, EDGA will update the standard rebate for removing liquidity to $0.0002. Pricing for securities trading below $1.00 will remain unchanged. Refer to the EDGA Fee Schedule for the list of standard add and remove flags.
EDGA will also update the Add Volume Tiers to assess a fee of $0.0003 per share for adding liquidity for Members who meet the criteria outlined in footnote 4 of the EDGA Fee Schedule.
EDGA Flag Updates
Flag |
Description |
Per Share |
BY |
Routed to BATS BYX Exchange using routing strategies ROUC, ROUE, ROBY, ROBB, or ROCO |
($0.0001) |
RY |
Routed to BATS BYX, adds liquidity |
$0.0003 |
EDGX Flag Updates
Flag |
Description |
Per Share |
BY |
Routed to BATS BYX Exchange using routing strategies ROUC, ROUE or ROBY |
($0.0001) |
RA |
Routed to EDGA, adds liquidity |
$0.0005 |
RR |
Routed to EDGA using routing strategies IOCX or IOCT |
($0.0002) |
RY |
Routed to BATS BYX, adds liquidity |
$0.0003 |
More Information
- Refer to Direct Edge Trading Notice #13-34 for additional fee schedule changes effective August 1, 2013.
- EDGX Fee Schedule for August 2013 (pending filing with the SEC)
- EDGA Fee Schedule for August 2013 (pending filing with the SEC)