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Wednesday, March 7, 2012

Equity Regulatory Alert #2012 - 3
Sales Fees to be Adjusted per SEC Section 31 Rate Change, Effective April 1, 2012

Markets Impacted:

Contact Information:

What you need to know:

  • The Securities and Exchange Commission (SEC) has announced a Section 31 rate change mid-year adjustment, effective Sunday, April 1, 2012. Because April 1st is a Sunday, the adjustment will be effective for trades settling on or after Monday, April 2, 2012.
  • NASDAQ OMX® will adjust the Sales Fees accordingly for its U.S. equities markets - The NASDAQ Stock Market® (NASDAQ®), NASDAQ OMX BXSM (BXSM) and NASDAQ OMX PSXSM (PSXSM) - and its U.S. options markets - The NASDAQ Options MarketSM (NOM) and NASDAQ OMX PHLXSM (PHLX®).
  • All trades occurring on NASDAQ, BX, PSX, NOM and PHLX, and settling on or after April 2nd, will be assessed the increased rate of $22.40 per million dollars.
  • The current rate of $18.00 per million will be charged until the new rate takes effect.

What has changed?

As announced in Fee Rate Advisory #6 for Fiscal Year 2012, the SEC has announced a Section 31 rate change effective Sunday, April 1, 2012. Because April 1st is a Sunday, the adjustment will be effective for trades settling on or after Monday, April 2, 2012. Per this change, NASDAQ OMX will adjust the Sales Fee rates accordingly for NASDAQ, BX, PSX, NOM and PHLX.

What is the new Sales Fee rate?

All equity trades occurring on NASDAQ, BX and PSX, and settling on or after April 1st (trade date on or after Wednesday, March 28, 2012, assuming regular settlement for April 2nd), will be assessed the new rate of $22.40 per million dollars.

All option trades occurring on NOM and PHLX, and settling on or after April 1st (trade date on or after Friday, March 30, 2012, assuming regular way settlement for April 2nd), will be assessed the new rate of $22.40 per million dollars.

What is the rate until the change takes effect?

The current rate of $18.00 per million will be charged until the new rate takes effect.

Where can I find additional information?


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