Effective Thursday, January 2, 2025, MEMX will be implementing the following changes to transaction fees, subject to filing with the SEC:
- Delete expired criteria (2) of Liquidity Provision Tier 2.
Changes are reflected in bold text below.
Transaction Fees
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Liquidity Provision Tiers
| Tier | Rebate Per Share | Required Criteria |
| Tier 1 | $(0.0034) | (1) Member has an ADAV (excluding Retail Orders) ≥ 0.40% of the TCV; or (2) Member has an ADAV ≥ 0.30% of the TCV in securities priced at or above $1.00 per share and a Non-Displayed ADAV ≥ 6,000,000 shares |
| Tier 2 | $(0.0032) | (1) Member has an ADAV ≥ 0.20% of the TCV and an ADV ≥ 0.50% of the TCV; (2) Member has a Step-Up ADAV from June 2024 (excluding Retail Orders) ≥ 0.05% of the TCV in securities priced at or above $1.00 per share and an ADAV (excluding Retail Orders) ≥ 0.20% of the TCV in securities priced at or above $1.00 per share*; or ( |
| Tier 3 | $(0.0030) | (1) Member has an ADAV ≥ 0.20% of the TCV in securities priced at or above $1.00 per share; or (2) Member has an ADAV ≥ 0.175% of the TCV |
| Tier 4 | $(0.0029) | Member has an ADAV (excluding Retail Orders) ≥ 0.09% of the TCV |
| Tier 5 | $(0.0025) | Member has an ADAV ≥ 0.06% of the TCV |
*Criteria (2) of Liquidity Provision Tier 2 will expire no later than December 31, 2024.
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Please see the Fee Schedule for more details.
Contact Market Operations or your MEMX Relationship Manager with any questions.