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Product LoginTuesday, May 26, 2009
Options Trader Alert #2009 - 16
NASDAQ OMX PHLX Amends Order Entry Port Fee and Cancellation Fee, Effective June 1, 2009
Markets Impacted:
- NASDAQ OMX PHLX
Contact Information:
- Transaction Services U.S. Market Sales at +1 800 846 0477
What you need to know:
- PHLX has filed with the SEC to amend billing for the Order Entry Port Fee to be a flat rate of $250 per month, per subscription, effective Monday, June 1, 2009.
- PHLX has also filed with the SEC to amend the PHLX Cancellation Fee to be $2.10 per order for each cancelled AUTOM-delivered customer order in excess of the number of customer orders executed on PHLX by a member organization in a given month, effective Monday, June 1, 2009.
What has been filed with the SEC?
NASDAQ OMX PHLXSM (PHLXSM) has filed with the Securities and Exchange Commission (SEC) to amend billing for the Order Entry Port Fee. PHLX has also filed with the SEC to amend the PHLX Cancellation Fee.
What is the new pricing for the Order Entry Port Fee?
As announced in Options Trader Alert #2009-10, effective Monday, June 1, 2009, the Order Entry Port Fee will be a flat rate of $250 per month, per subscription. Currently, firms are charged $250 based on usage in a given month.
What changes have been made to the Cancel Fee?
Also effective Monday, June 1, 2009, the Cancellation Fee will be $2.10 per order for each cancelled AUTOM-delivered customer order in excess of the number of customer orders executed on PHLX by a member organization in a given month.
Will the Cancellation Fee always be assessed when cancellations exceed executions?
No, the cancellation fee is not assessed in a month in which fewer than 500 AUTOM-delivered orders are cancelled.
The cancellation fee will also not apply to:
- Customer Complex Orders that are submitted electronically
- Immediate-or-Cancel (IOC) customer orders
- Cancelled customer orders that improve the PHLX Best Bid and Offer (PBBO) market at the time the customer orders are received by the Exchange.
Where can I find more information about PHLX fees?
- Refer to the PHLX pricing page or the PHLX Fee Schedule on the NASDAQ OMX Trader® website.
- For additional questions, contact Transaction Services U.S. Market Sales at +1 800 846 0477.
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