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Friday, June 28, 2024

Equity Trader Alert #2024 - 39
Pricing Update Effective July 1, 2024

Category:

  • Pricing

Markets Impacted:

Contact Information:

Resources:

Pending filing with the SEC, the following amendment will be effective Monday, July 1, 2024, for Nasdaq and BX:

The Nasdaq Stock Market LLC and Nasdaq BX Inc. (collectively, the “Nasdaq Exchanges”) propose to amend Equity 7 of Nasdaq Rules and BX Rules respectively as mentioned below (please refer to the resources section for additional details).

Starting July 1, 2024, the Nasdaq Exchanges will evaluate the two calculations below in determining a member’s qualification for Qualified Market Maker (QMM) program discounted remove fee and NBBO program rebate and will apply the most advantageous pricing tier/incentives for which the member qualifies:

  1. Firm or MPID’s volumes expressed as a percentage of Total Consolidated Volume inclusive of volume pertaining to securities priced below $1.
  2. Firm or MPID’s volumes expressed as a percentage of Total Consolidated Volume exclusive of volume pertaining to securities priced below $1 and increasing the distinct volume percentage thresholds (for fees that pertain to accessing liquidity set forth in Equity 7 of Nasdaq Rules Section 114(e) and rebates that pertain to providing liquidity set forth in Section 114(g); and for fees that pertain to providing liquidity set forth in Equity 7 of BX Section 118(f).

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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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