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Monday, November 30, 2015

Options Trader Alert #2015 - 34
BX Options Pricing Update Effective December 1, 2015

Category:

  • Pricing

Markets Impacted:

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Effective Tuesday, December 1, 2015, pending filing with the SEC, Nasdaq BX Options (BX Options) will introduce tiers for all market participants. Executed volume from the member firm (and its affiliate member) across all account categories will be subject to the following schedule.

Penny Pilot Options


   Rebate to Add Liquidity Fee to Add Liquidity Rebate to Remove Liquidity Fee to Remove Liquidity Fee To Remove Liquidity
  Applied to: Customer Customer Customer BX Options Market Maker BX Options Market Maker
  Trading with: Non-Customer or BX Options Market Maker Customer Non-Customer, BX Options Market Maker or Customer Customer Non-Customer or BX Options Market Maker
Tier 1 Participant executes less than 0.05% of total industry customer equity and ETF option ADV contracts per month. $0.00 $0.39 $0.00 $0.39 $0.46
Tier 2 Participant executes 0.05% to less than 0.15% of total industry customer equity and ETF option ADV contracts per month. $0.10 $0.39 $0.25 $0.39 $0.46
Tier 3 Participant executes 0.15% or more of total industry customer equity and ETF option ADV contracts per month. $0.20 $0.39 $0.35 $0.30 $0.46

Non-Penny Pilot Options


   Rebate to Add Liquidity Fee to Add Liquidity Rebate to Remove Liquidity Fee to Remove Liquidity Fee To Remove Liquidity
  Applied to: Customer Customer Customer BX Options Market Maker BX Options Market Maker
  Trading with: Non-Customer or BX Options Market Maker Customer Non-Customer, BX Options Market Maker or Customer Customer Non-Customer or BX Options Market Maker
Tier 1 Participant executes less than 0.05% of total industry customer equity and ETF option ADV contracts per month. $0.00 $0.85 $0.80 $0.89 $0.89
Tier 2 Participant executes 0.05% to less than 0.15% of total industry customer equity and ETF option ADV contracts per month. $0.10 $0.85 $0.80 $0.89 $0.89
Tier 3 Participant executes 0.15% or more of total industry customer equity and ETF option ADV contracts per month. $0.20 $0.85 $0.80 $0.60 $0.89

Fee to Add Liquidity for BX Options Market Makers when trading with customers will increase to $0.95 in Non-Penny Pilot Options.

Fee to Add Liquidity for Non-Customers will increase to $0.98 in Non-Penny Pilot Options.

 

 

 

 

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