Tuesday, November 30, 2021

Equity Trader Alert #2021 - 93
Nasdaq and PSX Pricing Updates Effective December 1, 2021

Category:

  • Pricing

Markets Impacted:

Contact Information:

Resources:

Pending filing with the SEC, the following pricing changes will be effective Wednesday, December 1, 2021, for Nasdaq.

Amended Rebates to Add Displayed Liquidity

Nasdaq will add a new credit of an additional $0.0001 for firms that grow 30% over October 2021 Adding.

Per Share Executed Liquidity Code
1. Increase adding by 30% over October 2021 adding; and
2. Minimum 15M shares added
Additional $0.0001 (other than Supplemental Orders or Designated Retail orders) A, 7, 8, a, x or y

Pending filing with the SEC, the following pricing changes will be effective Wednesday, December 1, 2021, for PSX.

Discontinued PSX Enhanced Market Quality Program

The PSX Enhanced Market Maker Quality Program will be discontinued.

Discontinued PSX Qualified Market Maker (QMM) Program

The PSX Qualified Market Maker (QMM) Program will be discontinued.

New PSX Fee Schedules

The new PSX Fee Schedules are below:

Rebate to Add Displayed Liquidity (Per Share Executed)
Tape A
Tape B
Tape C
Liquidity Code
Firm adds 0.10% or more of TCV $0.0035 $0.0035 $0.0035 A or V
1. Firm adds 0.05% or more of TCV; and 2. Removes 0.02% TCV $0.0034 $0.0034 $0.0034 A or V
1. Firm provides a ADV of 1 million add display; and 2. Increases its add ADV by 100% or more relative to October 2021 $0.0030 $0.0030 $0.0030 A or V
All others $0.0020 $0.0020 $0.0020 A or V
Rebates to Add Non-Displayed Liquidity via an Order with Midpoint pegging Per Share Executed Liquidity Code
All Firms $0.0023 k
Rebates to Add Other Non-Displayed Liquidity Per Share Executed Liquidity Code
Firms adds 0.01% or more of TCV of non-displayed liquidity (other than midpoint orders) $0.0015 J
Other non-displayed added liquidity $0.0005 J
Fee to Remove Liquidity Per Share Executed Liquidity Code
All Firms $0.0030 R or m


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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.