Tuesday, January 12, 2016

Equity Trader Alert #2016 - 8
Nasdaq Adds Liquidity Codes for Select Symbols

Category:

  • System Impact

Markets Impacted:

Contact Information:

Resources:

Effective February 1, 2016, Nasdaq will add three new liquidity codes under the Select Symbols program previously announced in Equity Trader Alert #2015 - 154.

Liquidity Code Description Minimum Displayed Add Rebate per Share for Executions $1.00 and Above
a Added displayed liquidity in a Select Symbol $0.0029*
x Displayed, liquidity-adding order improves the NBBO in a Select Symbol $0.0029*
y Displayed, liquidity-adding order set the QBBO while joining the NBBO in a Select Symbol $0.0029*

*Market Quality Incentive Program (for example, but not limited to, QMM or NBBO Program) rebates are in addition to this minimum rebate when applicable.

Currently there are 10 Select Symbols. The minimum rebate for adding displayed liquidity is $0.0029 per share for shares executed at or above $1.00 in these Select Symbols. The 10 symbols are:

Symbols
EEM
EWJ
GDX
IWM
NUGT
SPY
UWTI
VXX
XIV
XLF

For example, if a member firm is currently receiving a rebate of $0.0028 or below per share when adding displayed liquidity, the member will now receive a rebate of $0.0029 per share when adding displayed liquidity in the 10 above symbols.

Please refer to the Specifications Page for more information.


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Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $12 trillion. To learn more, visit: business.nasdaq.com.