Effective Tuesday, December 1, 2020, MEMX will introduce the following pricing.
Retail Orders that add Displayed Liquidity
Effective December 1, 2020, MEMX will being offering an enhanced rebate of $0.0034 per share for displayed orders that provide liquidity and are designated as Retail Orders upon entry.
The Retail Order Designation program is designed for Members that submit orders to the exchange on behalf of their retail customers or route retail orders on behalf of another broker-dealer. A Member must first submit an application and be approved by the Exchange as a Retail Member Organization in order to designate orders as Retail Orders, as described in Rule 11.21 of the Exchange Rules.
Sub-Dollar Executions
In addition, effective December 1, 2020, MEMX will implement the following pricing for executions in securities priced below $1.00:
- for all orders that add liquidity, MEMX will provide a rebate equal to 0.30% of the total dollar value of the execution;
- for all orders that remove liquidity, MEMX will charge a fee equal to 0.30% of the total dollar value of the execution.
Below is a table depicting revised fees and rebates effective as of December 1, 2020.
Standard Trading Fees and Rebates
| Fee Code | Description | Fee/(Rebate) – Securities at or above $1.00 (“A”) | Fee/(Rebate) – Securities below $1.00 (“B”) |
|---|---|---|---|
| B, D or J | Added displayed volume | $(0.0029) | (0.30% of total dollar value) |
| Br, Dr or Jr | Added displayed volume, Retail Order | $(0.0034) | (0.30% of total dollar value) |
| H or M | Added non-displayed volume | $(0.0020) | (0.30% of total dollar value) |
| R | Removed volume from MEMX Book | $0.0025 | 0.30% of total dollar value |
| Z | Routed to another market, removed liquidity | $0.0030 | No charge |
Additional Information
Please contact Market Operations or your MEMX Relationship Manager with any questions.