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Wednesday, November 30, 2022

Equity Trader Alert #2022 - 102
Nasdaq Pricing Updates Effective December 1, 2022

Category:

  • Pricing

Markets Impacted:

Contact Information:

Resources:

Pending filing with the SEC, the following pricing changes will be effective Thursday, December 1, 2022, for Nasdaq.

Discontinued Rebate to Add Displayed Liquidity

The following supplemental rebate will be removed:

Per Share Executed
Liquidity Code
M-ELO Supplemental Credit A

    1. Increases average daily volume of Midpoint Extended Life Orders (including midpoint orders that execute against Midpoint Extended Life Orders) by 2 million shares or more versus the firm’s June 2021 Midpoint Extended Life Orders (including midpoint orders that execute against Midpoint Extended Life Orders) ADV; or
    2. Firm adds a minimum average daily volume of 4 million shares through midpoint orders (midpoint add + MELO) and grows midpoint add ADV (midpoint add + MELO) by 150% or more vs June 2021 midpoint add ADV (midpoint add + MELO)
 Additional $0.0001 (other than Supplemental Orders or Designated Retail Orders) A, 7, 8, a, x or y

Amended Rebate to Add Displayed Liquidity

The current $0.0001 display add credit for firms who “Increase Adding by 30% vs. Oct 2021 or Nov 2021 TCV; and Add at least 15 million ADV” will be amended to:

Per Share Executed
Liquidity Code
    1. Increase Adding by 30% vs Oct 2021 or Nov 2021 TCV
    2. Add at least 15 Million ADV

*Excludes those firms that qualify for the QMM Tier 2 Rebate 		Additional $0.00005 (other than Supplemental Orders or Designated Retail Orders) A, 7, 8, a, x or y

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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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