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Product LoginWednesday, February 29, 2012
Options Trader Alert #2012 - 14
PHLX and NOM Update Pricing Effective Thursday, March 1, 2012
Markets:Contact Information:
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What you need to know:
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What is changing in regard to Make/Take Complex Order Customer Rebates?
Effective Thursday, March 1, 2012, PHLX will update Complex Order rebates and fees applicable to Select Symbols as follows:
| Customer | Directed Participant | Market Maker | Firm | Broker-Dealer | Professional | |
|---|---|---|---|---|---|---|
| Rebate for Adding Liquidity | $0.32 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Rebate for Removing Liquidity | $0.06 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Fee for Adding Liquidity | $0.00 | $0.10 | $0.10 | $0.20 | $0.20 | $0.20 |
| Fee for Removing Liquidity | $0.00 | $0.32 | $0.37 | $0.38 | $0.38 | $0.38 |
In addition, PHLX will implement a new volume tier for Market Makers that execute more than 25,000 contracts per day in a month of Complex Order volume in Select Symbols. Market Makers that meet the volume criteria will receive a $0.01 per contract reduction of both Directed Participant and Market Maker Complex Order Fees for Removing Liquidity on all of their transactions for the month. In calculating the 25,000 contracts per day in a month, the trading activity of Market Makers will be aggregated if there is at least 75% common ownership between the member organizations.
What is changing in regard to electronically-delivered Customer Simple and Complex Orders?
Effective March 1st, PHLX will offer a $0.07 per contract rebate for Customer simple and Complex Orders that are electronically-delivered, provided the member has an average daily volume of 50,000 contracts or more in a given month. This rebate will be applied to Multiply-Listed options, other than the Select Symbols. The Customer Complex Order rebate of $0.05 per contract will be eliminated. PIXL Orders and QCC orders will be excluded from this volume calculation.
What is changing in regard to the NOM Customer Rebates to Add Liquidity?
Effective March 1st, NOM will increase the current rebate for NOM participants that qualify for Tier 5 of the Customer Rebate to Add Liquidity in Penny Pilot Options from $0.40 to $0.41 per contract. In order to qualify for Tier 5, NOM Participants must add Customer liquidity of 25,000 or more contracts per day in a month, be certified for the Investor Support Program; and execute at least one order on NASDAQ's equity market.
Where can I find more information?
- Refer to the NOM and PHLX pricing pages on the NASDAQ OMX Trader website.
- Contact Transaction Services U.S. Market Sales at +1 800 846 0477.
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