Thursday, September 27, 2012
Options Trader Alert #2012 - 55
PHLX Updates PIXL Pricing, Effective October 1, 2012
What you need to know:
What is changing on PHLX in regard to PIXL Pricing?
NASDAQ OMX PHLXSM (PHLX®) will update its pricing for Price Improvement XL (PIXLSM). As of October 1, 2012, PIXL pricing will be as follows: Initiating Order (Sections I and II) will be $0.07 per contract or $0.05 per contract if the participants’ Customer Rebate Program Threshold Volume achieves the highest tier.
In Section I, Select Symbols (make/take names) Customer PIXL Order will remain free when contra to the Initiating Order. All non-Customer market participant PIXL Orders will be assessed a fee of $0.30 per contract when contra to the Initiating Order. All PIXL Orders will receive the Rebate to Add Liquidity in Section I when contra to an Auction Responder or a contra-side order or quote that was entered into the market after the PIXL auction was started. All PIXL Orders that trade against a resting order or quote that was entered into the market before the PIXL Auction started will have their Fee to Remove Liquidity reduced to $0.30 per contract. PIXL Auction Responders will have their Fee to Remove Liquidity reduced to $0.30 per contract.
In Section II, Multiply-Listed Options Customer PIXL Order will remain free in all instances and all non-Customer market participant PIXL Orders will be assessed a fee of $0.30 per contract. Responders to PIXL auctions will be assessed a fee of $0.30 per contract. Payment for Order Flow is applicable when a Customer PIXL Order is contra to a Market Maker that responded to the Auction or against a resting Market Maker quote or order. The $0.30 per contract fees discussed herein will apply to the Monthly Market Maker Cap, except with respect to the Initiating Order fee. Resting contra-side orders or quotes will pay the appropriate transaction fees defined in Section II.
Where can I find more information?
- Refer to www.nasdaqomxtrader.com/pricing
- Contact NASDAQ Options & Futures Market at +1 215 496 1571
About the NASDAQ OMX Group: The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.