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Wednesday, November 30, 2022

Options Trader Alert #2022 - 42
Nasdaq ISE Updated Pricing Effective December 1, 2022

Category:

  • Pricing

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Effective Thursday, December 1, 2022, pending filing with the SEC, Nasdaq ISE LLC (ISE) will amend the Pricing Schedule as described below:

Nasdaq ISE (ISE)

Nasdaq ISE will adjust the Priority Customer Rebates under Options 7, Section 4 as follows:

Section 4. Complex Order Fees and Rebates(5)(12)(15)

Priority Customer Rebates

Priority Customer Complex Tier(7)(13)(16) Total Affiliated Member or Affiliated Entity Complex Order Volume (Excluding Crossing Orders and Responses to Crossing Orders) Calculated as a Percentage of Customer Total Consolidated Volume Rebate for Select Symbols(1) Rebate for Non-Select Symbols(1)(4)
Tier 6 Above 1.000% - 1.350% $0.47 $0.48 $0.80 $0.85
Tier 7 Above 1.350% - 1.750%
 $0.48 $0.51 $0.80 $0.92
Tier 8 Above 1.750% - 2.750% $0.52 $0.55 $0.85 $1.03
Tier 9 Above 2.750% - 4.500% $0.52 $0.56 $0.86 $1.04
Tier 10 Above 4.500% $0.53 $0.57 $0.88 $1.05
 
 
Nasdaq ISE will amend Footnotes 3 and 8 and adjust the Taker Fee for Select Symbols and Taker Fee for Non-Select Symbols under Options 7, Section 4 as follows:

 

Section 4. Complex Order Fees and Rebates(5)(12)(15)
 
Maker and Taker Fees
Market Participant Maker Fee for Select Symbols when trading against Priority Customer Taker Fee for Select Symbols Taker Fee for Non-Select Symbols
Market Maker $0.50(3) $0.50(3)(8) $0.86 $0.98(8)
Non-Nasdaq ISE Market Maker (FarMM) $0.50 $0.50(3)(8) $0.88 $0.98(8)
Firm Proprietary / Broker-Dealer $0.50 $0.50(3)(8) $0.88 $0.98(8)
Professional Customer $0.50 $0.50(3)(8) $0.88 $0.98(8)
Priority Customer $0.00 $0.00 $0.00
 

3. This Taker Fee is $0.38 per contract when executed against Priority Customer Complex Orders in Select Symbols entered by an Affiliated Member or Affiliated Entity, excluding Complex Orders executed in the Facilitation Mechanism, Solicited Order Mechanism, and Price Improvement Mechanism. This fee is $0.49 per contract for Market Makers that achieve Priority Customer Complex Tier 8, $0.47 per contract for Market Makers that achieve Priority Customer Complex Tier 9, and $0.44 per contract for Market Makers that achieve Priority Customer Complex Tier 10.

8. A $0.05 $0.12 per contract surcharge will be assessed to Non-Priority Customer Complex Orders that take liquidity from the Complex Order Book (including Exposure Complex Orders and Exposure Only Complex Orders pursuant to Options 3, Section 14(b)(13) and (14)) when executed against Priority Customer Complex Orders, excluding Complex Orders executed in the Facilitation Mechanism, Solicited Order Mechanism, and Price Improvement Mechanism and "exposure" auctions pursuant to Options 3, Section 14(c)(3).
   

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