Effective Monday, October 3, 2022, MEMX will be implementing the following change to transaction fees, subject to filing with the SEC:
- Modify the required criteria under the Step-Up Additive Rebate.
Changes are reflected in bold text below.
Step-Up Additive Rebate
|Tier||Additive Rebate Per Share*||Required Criteria|
|Tier 1||$(0.0002)||Member has (1) an ADAV ≥ 0.45% of the TCV; or (2) a Step-Up ADAV from August 2022 ≥ 0.10% of the TCV and an ADAV ≥ 0.30% of the TCV|
*Rebate is in addition to otherwise applicable rebate for executions of added displayed volume (other than orders that establish the NBBO for Members that qualify for the NBBO Setter Tier and Retail Orders) in securities priced at or above $1.00 per share. MEMX will append Fee Code “X” to the otherwise applicable Fee Code for qualifying executions.
Please see the Fee Schedule and the DLI Program Page for more details.
Contact Market Operations or your MEMX Relationship Manager with any questions.