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Tuesday, February 16, 2010

Equity Trader Alert #2010 - 10
The NASDAQ Stock Market Announces Pricing Changes Effective March 1, 2010

Markets Impacted:

  • The NASDAQ Stock Market

Contact Information:

What you need to know:

  • Effective Monday, March 1, 2010, The NASDAQ Stock Market will update its transaction fee schedule, subject to filing with the SEC on an immediately effective basis.
    • Standard remove rates will apply to the Mid Point Peg order type for all volume tiers.
    • The rate to route liquidity for using STGY, SCAN, SKIP, SKNY and DOT* routing strategies will be $0.0030. This pricing will not apply when removing liquidity from the NYSE.

What is changing?

Effective Monday, March 1, 2010, The NASDAQ Stock Market® will update its transaction fee schedule for removing liquidity with the Mid Point Peg order type and for routing liquidity via certain routing strategies, subject to filing with the Securities and Exchange Commission (SEC) on an immediately effective basis.

What will be the transaction fee for using the Mid Point Peg?

Standard remove rates will apply to trades that execute with the Mid Point Peg order type for all volume tiers. Therefore, firms that add greater than 95 million shares per day will now be subject to standard remove rates based on their volume tier when using the Mid Point Peg.

What will be the new rate to route liquidity?

The rate to route liquidity using STGY, SCAN, SKIP, SKNY and DOT* routing strategies will be $0.0030 per share executed. This pricing excludes shares that route to and execute on the New York Stock Exchange (NYSE). Refer to the pricing page on the NASDAQ OMX Trader® website for rates to route to the NYSE.

Where can I find additional information?

*Shares removed from BX via DOTI will still receive a pass-through rebate.

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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 $13 trillion. To learn more, visit: business.nasdaq.com.

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