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Product LoginTuesday, June 30, 2020
Options Trader Alert #2020 - 19
Nasdaq ISE, GEMX, and MRX Updated Pricing Effective July 1, 2020
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Effective Wednesday, July 1, 2020, pending filing with the SEC, Nasdaq ISE (ISE), Nasdaq GEMX (GEMX) and Nasdaq MRX (MRX) amend their pricing as described below: Nasdaq ISE
Section 3. Regular Order Fees and RebatesSelect Symbols
Non-Select Symbols (Excluding Index Options)
Section 4. Complex Order Fees and RebatesCrossing Order Fees and Rebates
Nasdaq GEMXSection 3. Regular Order Fees and RebatesGEMX will add Tier 5 pricing for Non-Penny Symbols, which pricing will be the equivalent of current Tier 4 Maker Rebates and Taker Fees. GEMX amends note 13 within Options 7, Section 3 to add a volume requirement and expand the note to all Members. The Non-Penny Symbol Fee For Responses to Crossing Orders (excluding PIM) is being increased.Non-Penny Symbols (Excluding Index Options)
13. Non-Priority Customers who execute less than 4.0% of Customer Total Consolidated Volume [Non-Priority Customer orders] will be charged a Taker Fee of $0.50 per contract for trades executed against a Priority Customer. Non-Priority Customers who execute 4.0% or greater of Customer Total Consolidated Volume will be charged a Taker Fee of $0.47 per contract for trades executed against a Priority Customer. All Priority Customer orders will be charged a Taker Fee of $0.49 per contract for trades executed against a Priority Customer. For purposes of note 13, Customer Total Consolidated Volume means the total volume cleared at The Options Clearing Corporation in the Customer range in equity and ETF options in that month. Section 4. Other Options Fees and RebatesGEMX proposes a new Crossing Fee Cap of $85,000 per month, per Member.C. Crossing Fee CapFees are capped at $85,000 per month per Member on all Firm Proprietary transactions that are part of the originating or contra side of a Crossing Order. Crossing Orders are contracts that are submitted as part of a Facilitation, Solicitation, PIM, Block or QCC order. All eligible volume from affiliated Members will be aggregated for purposes of the Crossing Fee Cap, provided there is at least 75% common ownership between the Members as reflected on each Member's Form BD, Schedule A. Fees charged by the Exchange for Responses to Crossing Orders are not included in the calculation of the monthly fee cap. Surcharge fees charged by the Exchange for licensed products and the fees for index options as set forth in Options 7, Section 3 are not included in the calculation of the monthly fee cap. A service fee of $0.00 per side will apply to all order types that are eligible for the fee cap. The service fee shall apply once a Member reaches the fee cap level and shall apply to every contract side above the fee cap. A Member who does not reach the monthly fee cap will not be charged the service fee. Once the fee cap is reached, the service fee shall apply to eligible Firm Proprietary orders in all Nasdaq GEMX products. The service fee is not calculated in reaching the cap. For purposes of the Crossing Fee Cap the Exchange will attribute eligible volume to the GEMX Member on whose behalf the Crossing Order was executed.Nasdaq MRXMRX will adjust pricing for orders executed in the Price Improvement Mechanism (PIM) for both regular and Complex PIM Orders as described below. In connection with this fee change, note 1 within Options 7, Section 5E will be eliminated.Section 5. Other Options Fees and RebatesE. PIM Pricing for Regular and Complex OrdersPenny Symbols
Non-Penny Symbols
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