Friday, August 23, 2013

Equity Trader Alert #2013 - 78
NASDAQ OMX Announces Pricing Tier Calculation Adjustments in Regards to August 22nd

Markets Impacted:

Contact Information:

What you need to know:

  • Pursuant to The NASDAQ Stock Market Rule 7018(j), the volume from August 22, 2013, trading activity will be excluded from the NASDAQ pricing tier calculation.
  • Pending SEC filing and approval, NASDAQ OMX plans to also exclude August 22, 2013, from monthly pricing tier calculations for our other exchanges.

What has been announced?

Pursuant to The NASDAQ Stock Market® (NASDAQ®) Rule 7018(j), the volume from August 22nd trading activity will be excluded from the NASDAQ pricing tier calculation.

What has been proposed for other NASDAQ OMX exchanges?

NASDAQ OMX® has proposed to extend the exclusion of August 22nd trading from monthly pricing tier calculations for other NASDAQ OMX exchanges in which the tier calculations are based off of a firm's executed volume and the market-wide industry volume. This proposal is pending filing and acceptance by the Securities and Exchange Commission (SEC).

This will impact pricing tier calculations for the following exchanges:

  • The NASDAQ Options Market

NASDAQ OMX BX Options does not base pricing tiers off of customer volume.

Will this proposal affect rates?

No, the proposal will not impact any rates assessed by the exchanges. It will only impact how we determine pricing tier qualification by firms.

Who can I contact for additional information?

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