Wall Street Letter VOL. XLVI, NO. 1 - January 2014 | Page 17

JANUARY 2014

Amends fees to take
liquidity and other
transaction fees

Amends priority
customer rebates

$0 for 0-0.25% of national customer
volume in multiply-listed options classes;
$0.10 per contract rebate for 0.25-0.35%
of national customer volume in multiplylisted options classes; $0.15 per contract
rebate for 0.35-0.75% of national customer volume in multiply-listed options
classes; $0.17 per contract rebate for
0.75-1.5% of national customer volume
in multiply-listed options classes. $0.18
per contract rebate for more than 1.5%
of national customer volume in multiplylisted options classes

$0 for 0-0.25% of national customer
volume in multiply-listed options classes;
$0.10 per contract rebate for 0.25-0.50%
of national customer volume in multiplylisted options classes; $0.11 per contract
rebate for 0.50-1% of national customer
volume in multiply-listed options classes;
$0.12 per contract rebate for 1-2% of national customer volume in multiply-listed
options classes. $0.14 per contract rebate
for more than 2% of national customer
volume in multiply-listed options classes

Dec. 1-30, 2013

Establishes fees for
access to the testing
facility

$1,000 per hand-off, per month; $1,000
one-time installation fee per hand-off

N/A

Immediately

$0.0016 per share executed when adding
displayed liquidity if the member has
a daily average volume of 2 million or
more in all securities across the month
using one more MPID and if the member
adds options market maker volume of
20,000 or more contracts per day during
the month

N/A

Dec. 2, 2013

Applies to transaction for securities
priced at $1 or more. Targets members trading simultaneously across
asset classes for the same strategy.
Also intended to support price
discovery and liquidity provision.

$0.0010 per share executed if a member
provides an ADV of 2 million or more
shares of liquidity using mid-point pegged
orders in the month; $0.00125 per share
executed if member ADV is between
one million and two million using midpoint pegged orders during the month;
$0.0028 per share fee for non-displayed
orders that are not mid-point pegged
orders; $0.0020 per share executed for
displayed orders other than mid-point
pegged orders

$0.0015 per share fee if adding liquidity;
$0.0020 per share executed for displayed
orders other than mid-point pegged
orders; $0.0025 per share executed for
non-displayed orders other than midpoint pegged orders

Dec. 2, 2013

Intended to encourage the use of
mid-point pegged orders.

Amends rebates for
orders taking liquidity and not qualifying
for other rebates

$0.0004 rebate per share executed

$0.0007 rebate per share executed

Dec. 2, 2013

Intended to incentivize participants
to qualify for more favorable pricing
by transacting in more liquidity or
using BX routing.

Amends Customer
routing fees for BX
Options

Nasdaq OMX
Nordic

Immediately

Establishes new
tiers for mid-point
pegged orders

Nasdaq OMX
BX

Fee for Select Symbols (ex-SPY): $0.39
per contract for Market Makers/ $0.40
per contract for non-ISE Market Makers,
Firm Proprietary and Broker-Dealers,
and Professional Customers; Fee for SPY:
$0.39 per contract for Market Makers/
$0.41 per contract for non-ISE Market
Makers, Firm Priority and Broker-Dealers,
and Professional Customers; Fees for
non-Select Symbols: $0.82 per contract
for Market Makers/$0.84 per contract for
non-ISE Market Makers, Firm Proprietary
and Broker-Dealers, and Professional
Customers; Fee for responses to Crossing orders for Select Symbols: $0.40
per contract (all participants