The Displayed Liquidity Incentive (DLI) provides additional economic incentives to all displayed provide liquidity when a Member meets the following requirements over the course of a month through one or more MPIDs.
Member must maintain a one- or two-sided quote of at least one round lot at the NBBO for 25% of regular trading hours in an average of at least 250 securities, at least 75 of which must be DLI Target Securities, per trading day during the month.*
Please see our fee schedule for details on the DLI rebate.
*The average number of securities in which such Member meets the quoting requirement per trading day during the month will be calculated by summing the number of securities in which each of such Member’s MPIDs met the quoting requirement for each trading day during the month then dividing the resulting sum by the total number of trading days in the month.