Wall Street Letter VOL. XLVI, NO. 7 - July 2014 | Page 16

FEE CHART

SUMMARY OF FEE
CH ANGES AT E XCH ANGES

SOURCE: EXCHANGE RULE FILINGS

WEEK COMMENCING 30 JUNE 2014
NAME OF
EXCHANGE
BATS
Exchange

16

SUMMARY OF
CHANGE

International
Securities
Exchange

EFFECTIVE
DATE

NEW FEE

CHANGED FROM

Amend liquidity
rebates for options Penny Pilot
securities

$0.25 per contract rebate for Customer orders adding liquidity to the
BATS Options order book where the
member does not qualify for a higher
rebate based on ADV; $0.45 per
contract rebate for Customer orders
adding liquidity to the BATS Options
order book if the member has an
ADV equal to or greater than 0.05%
of average TCV but less than 0.30%
of average TCV; $0.48 per contract
rebate for Customer orders that add
liquidity to the BATS Options order
book if the member has an ADV
equal to or greater than 0.30% of
average TCV but less than 1% of average TCV; $0.50 per contract rebate
for Customer orders adding liquidity
to the BATS Options order book if
the member has an ADV equal or
greater than 0.80% of average TCV
and has on BZX Equities an ADAV
equal or greater than 0.50% of average TCV

$0.45 per contract rebate for Customer orders adding liquidity to the
BATS Options order book where the
member does not qualify for a higher
rebate based on ADV; $0.48 per
contract rebate for Customer orders
that add liquidity to the BATS Options
order book if the member has an
ADV equal to or greater than 0.30%
of average TCV but less than 1% of
average TCV

June 2

Amends Priority
Customer fee to
take liquidity in
Select Symbols

$0.30 per contract fee for standard
options; $0.030 per contract fee
for mini options; $0.25 per contract
fee ($0.025 for mini options) for

$0.25 per contract fee for standard
options; $0.025 per contract fee for
mini options;

June 2

EXPLANATION

members to receive the highest
possible rebates.

Intended to attract additional

Customer ADV of 200,000 or more
contracts
Amends route-out
fees for Priority
Customers
Nasdaq OMX
Phlx

$0.45 per contract fee for standard
options; $0.045 per contract fee for
mini options

$0.40 per contract fee for standard
options; $0.040 per contract fee for
mini options

June 2

Amends options
transaction fees
in multiply-listed
Penny Pilot options

$0 for Customers; $0.48 per
contract for electronic/$0.25 per

$0 for Customers; $0.30 per contract
for electronic/$0.25 per contract for

Immediately

Intended to incentivize participants to qualify for lower fees.

Professionals; $0.22 per contract for
electronic/$0.30 per contract for

$0.22 per contract for electronic/$0.30

Immediately

Intended to incentivize participants to qualify for lower fees.

Market Makers; $0.48 per contract for
transactions for Broker-Dealers; $0.48
per contract for electronic/$0.25 per

routing orders to away markets.

Specialists and Market Makers; $0.45
per contract for electronic/$0.25 per
Broker-Dealers; $0.45 per contract for
transactions for Firms

Firms
Amends options
transaction fees
in multiply-listed
non-Penny Pilot
options

$0 for Customers; $0.70 per
contract for electronic/$0.25 per

$0 for Customers; $0.70 per contract
for electronic/$0.25 per contract for

Professionals; $0.25 per contract for
electronic/$0.30 per contract for

$0.23 per contract for electronic/$0.30

Market Makers; $0.70 per contract for
transactions for Broker-Dealers; $0.70
per contract for electronic/$0.25 per

Specialists and Market Makers; $0.70
per contract for electronic/$0.25 per
Broker-Dealers; $0.70 per contract for
transactions for Firms

Firms
Amends multiplylisted options
fee for members
under common
ownership

$0.23 per contract fee for members
that qualify for Customer rebate tiers
2,3,4, or 5 in Section B of pricing
schedule

$0.60 per contract fee for members
that qualify for Customer rebate tiers
2,3,4, or 5 in Section B of pricing
schedule

Immediately