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Thursday, June 30, 2016

Options Trader Alert #2016 - 17
BX Options Introduces SPY Options Tiers, Effective July 1, 2016

Category:

  • Pricing

Markets Impacted:

Contact Information:

Resources:

Effective Friday, July 1, 2016, pending filing with the SEC, the following changes will apply to Nasdaq BX Options.

BX Options

SPY will now have its own pricing table that will be separate from the Select Symbol table (details below)

 Rebate to Remove Liquidity (per contract)
 Applied to:Customer
 Trading with:Non-Customer, or BX Options Market Maker, Customer, or Firm
Tier 1Participant removes less than 1500 SPY Options contracts per day in the customer range$0.10
Tier 2Participant removes between 1500 and 2999 SPY Options contracts per day in the customer range$0.42
Tier 3Participant removes greater than 2999 SPY Options contracts per day in the customer range$0.51

  • Firm fee to add liquidity and fee to remove liquidity in SPY Options will be $0.33 per contract, regardless of counterparty.
  • Non-Customer fee to add liquidity and fee to remove liquidity in SPY Options will be $0.46 per contract, regardless of counterparty.
  • BX Options Market Maker fee to remove liquidity in SPY Options will be $0.46 per contract when trading with Firm, Non-Customer, or BX Options Market Maker.
  • Customer fee to add liquidity in SPY Options when contra to another Customer is $0.33 per contract. There will be no fee or rebate for Customer SPY Options that add liquidity when contra to Firm, BX Options Market Maker or Non Customer.
  • BX Options Market Maker fee to add liquidity and fee to remove liquidity in SPY Options will be $0.44 per contract when trading with Customer.
  • BX Options Market Maker fee to add liquidity in SPY Options will be $0.10 per contract when trading with Firm, BX Options Market Maker or Non Customer

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