Monday, October 01, 2012
Options Trader Alert #2012 - 57
PHLX Updates Customer Rebates, Effective October 1, 2012
What you need to know:
What is changing on PHLX in regard to the Customer Rebate Program?
Effective October 1, 2012, the Average Daily Volume Threshold described below will be calculated by totaling Customer volume in Multiply-Listed Options (including Select Symbols) that are electronically delivered and executed. Volume associated with the following will be excluded from the Average Daily Volume Threshold calculation: (i) electronically-delivered and executed Customer Simple Orders in Select Symbols that remove liquidity; and (ii) electronic QCC Orders, as defined in Exchange Rule 1080(o) ("Threshold Volume"). Rebates will be paid on Threshold Volume.
|Average Daily Threshold Volume||Rebate per Contract Categories|
|Category A||Category B||Category C|
|0 to 49,999 contracts in a month||$0.00||$0.00||$0.00|
|50,000 to 99,999 contracts in a month||$0.07||$0.10||$0.00|
|100,000 to 274,999 contracts in a month||$0.10||$0.14||$0.05|
|over 275,000 contracts in a month||$0.12||$0.15||$0.06|
Category A: Rebate will be paid to members executing electronically-delivered Customer Simple Orders in Penny Pilot Options and Customer Simple Orders in Non-Penny Pilot Options in Section II. Rebate will be paid on PIXL Orders in Section II symbols that execute against non-Initiating Order interest.
Category B: Rebate will be paid to members executing electronically-delivered Customer Complex Orders in Penny Pilot Options and Non-Penny Pilot Options in Section II.
Category C: Rebate will be paid to members executing electronically-delivered Customer Complex Orders in Select Symbols in Section I.
What is changing on PHLX in regard to Monthly Market Maker Cap?
Effective October 1, 2012, Specialists and Market Makers that (i) are on the contra-side of an electronically-delivered and executed Customer order and (ii) have reached the Monthly Market Maker Cap will be assessed a $0.16 per contract fee.
Where can I find more information?
- Refer to the NASDAQ OMX pricing page.
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