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Friday, April 29, 2016

Options Trader Alert #2016 - 12
PHLX, NOM and BX Options Update Pricing, Effective May 2, 2016

Category:

  • Pricing

Markets Impacted:

Contact Information:

Resources:

Effective Monday, May 2, 2016, pending filing with the SEC, the following changes will apply to Nasdaq PHLX (PHLX), the Nasdaq Options Market (NOM) and Nasdaq BX Options (BX Options), respectively.

PHLX

  • NDX and MNX volume will continue to be included in the calculation to qualify for the Customer Rebate Program (“CRP”); however, the volume will be excluded from CRP payout as defined in the Pricing Schedule.
  • Participants that execute equal to or greater than 3.00% of TCV in Multiply-Listed Equity and ETF classes (excluding SPY options) will be assessed a Complex PIXL Initiation Fee of $0.00 per contract. Participants that execute between 1.60% of TCV and less than 3.00% of TCV in Multiply-Listed Equity and ETF classes (excluding SPY options), will be assessed a Complex PIXL Initiation Fee of $0.05 per contract.
  • QCC rebates will not apply to executions where the buy and sell side are both marked Professional.
  • As stated in OTA #2015-36 our Purge Port filling was approved by the SEC and will now be Fee liable as of May 2, 2016.

NOM

  • Participants removing Customer and Professional liquidity in SPY Options will be reduced from $0.50 per contract to $0.47 per contract.

BX Options

  • Select Symbols Options OTA #2016-4 Fee to Add Liquidity when BX Options Market Maker trades with a Non-Customer or BX Options Market Maker, or Firm will apply to the following tier schedule:

 Fee to Add Liquidity (per contract)
 Applied to:BX Options Market Maker
 Trading with:Non-Customer, Firm, or BX Options Market Maker
Tier 1Participant executes less than 0.05% of total industry customer equity and ETF option ADV contracts per month.$0.14
Tier 2Participant executes 0.05% to less than 0.15% of total industry customer equity and ETF option ADV contracts per month.$0.10
Tier 3Participant executes 0.15% or more of total industry customer equity and ETF option ADV contracts per month.$0.04
Tier 4Participant executes more than 10,000 PRISM Agency Contracts for the month; or 0.30% or more total industry customer equity and ETF options ADV per month within the BX Options Market Maker range.$0.00

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