(EFFECTIVE APRIL 15, 2024)
Transaction Fees
MEMX Options Members are charged per contract fees or provided per contract rebates based on contracts executed within each of the fee code categories below.
| Capacity | Penny (“P”) | Non-Penny (“N”) | ||
| Add (“D”) | Remove (“R”) | Add (“D”) | Remove (“R”) | |
| Customer (“c”) | ($0.49) | $0.46 | ($1.04) | $0.85 |
| Market Maker (“m”) | ($0.45) | $0.50 | ($0.80) | $1.10 |
| Professional (“p”) | ||||
| Firm (“f”) | ||||
| Away Market Maker (“a”) | ||||
| Broker-Dealer (“b”) | ||||
Routing Fees
The Routing Fee applies to orders routed to and executed on another exchange.
| Penny (“P”) | Non-Penny (“N”) | |
| Routing Fee (“Z”) | $0.60 | $1.20 |
Definitions
- All references to “per contract” mean “per contract executed.”
- Capitalized terms not defined herein shall have the meanings set forth in the MEMX Rulebook.
- “Penny Program Securities” are those issues quoted pursuant to Rule 21.5(d) of the MEMX Rulebook.
- “Away Market Maker” applies to any order for the account of a market maker on another options exchange.
- “Broker Dealer” applies to any order for the account of a broker dealer, including a foreign broker dealer.
- “Customer” applies to any order for the account of a Priority Customer. “Priority Customer” shall have the meaning set forth in Rule 16.1 of the MEMX Rulebook.
- “Firm” applies to any order for the proprietary account of an OCC clearing member.
- “Market Maker” applies to any order for the account of a registered Market Maker.
- “Professional” applies to any order for the account of a Professional.
Options Regulatory Fee (ORF)
The per-contract Options Regulatory Fee (“ORF”) set forth below is assessed by MEMX Options to each Member for options transactions cleared by The Options Clearing Corporation (OCC) in the “customer” range where:
(1) the execution occurs on MEMX Options, or
(2) the execution occurs on another options exchange and is cleared or ultimately cleared by a MEMX Options Member.
| Options Regulatory Fee (ORF) | Fee Per Executed Contract Side |
| All Classes | $0.0015 |
Additional Notes:
- The Exchange uses reports from OCC when assessing and collecting the ORF.
- The ORF is collected by OCC on behalf of MEMX Options from either: (1) a Member that was the ultimate clearing firm for the transaction, or (2) a non-Member that was the ultimate clearing firm where a Member was the executing clearing firm for the transaction.
- The Exchange may only increase or decrease the ORF semi-annually.
- The Exchange will notify participants of any change in the amount of the fee at least 30 calendar days prior to the effective date of the change.
- The ORF will automatically sunset on May 31, 2024.
Market Data Fees
| Product | Delivery | Fee |
|---|---|---|
| MEMOIR Options Top | Internal and/or External | $750 |
| MEMOIR Options Depth | Internal and/or External | $1,500 |
Fees for Market Data products are assessed based on each active product at the close of business on the first day of each month. If a product is cancelled by a subscriber’s submission of a written request or via the MEMX User Portal prior to such fee being assessed, then the subscriber will not be obligated to pay the applicable product fee. MEMX does not return pro rated fees if a product is not used for an entire month.
Market Data Definitions:
- Distributor: any entity that receives an Exchange Data product directly from the Exchange or indirectly through another entity and then distributes it internally or externally to a third party.
- External Distributor: a Distributor that receives an Exchange Data product and then distributes that data to a third party or one or more data recipients outside the Distributor’s own organization.
- Internal Distributor: a Distributor that receives an Exchange Data product and then distributes that data to one or more data recipients within the Distributor’s own organization.
Additional Fees
Additional fees are set forth in Rule 15.1 of the MEMX Rulebook. Such fees include Regulatory Transaction Fees collected to fund MEMX’s Section 31 obligations and fees collected through the CRD registration system for registration of associated persons of Members that are not also FINRA members.
Fees applicable to Membership and Connectivity are set forth on the following fee schedules: