| LIQUIDITY INDICATOR | DESCRIPTION | TAPE A | |
|---|---|---|---|
| 1 | Taking Liquidity | $0.00275 | $0.0028 if Adding ADV> 250,000 in Tape A and <500K in Tapes B&C Combined $0.0030 if Adding ADV< 250,000 in Tape A |
| 1 | Floor Take | $0.0024 | |
| 1 | SLP Take | $0.00275 | $0.0028 if Adding ADV> 250,000 in Tape A and <500K in Tapes B&C Combined $0.0030 if Adding ADV< 250,000 in Tape A |
| 1 | DMM Take | $0.00275 | |
| 2 | Providing | $(0.00120) | $(0.0000) If Non-Displayed. Additional $(.0001) if Adding ADV > 0.20% on Tapes B&C |
| 2 | Providing Tier 4 | $(0.00150) | MPL Adding ADV>4 million shares and MocLoc>0.10%. $(0.0000) if Non-Displayed. Additional $(.0001) if Adding ADV > 0.20% on Tapes B&C |
| 2 | Providing Tier 3 | $(0.00180) | Adding ADV>0.40% Tape A CADV and MocLoc>0.05% or Adding ADV>0.35% Tape A CADV, MocLoc>0.05%, and MPL Adding ADV>400K shares $(0.0000) if Non-Displayed. Additional $(.0001) if Adding ADV > 0.20% on Tapes B&C |
| 2 | Providing Tier 2 | $(0.0020) | Adding ADV>0.75% Tape A CADV and MocLoc>0.10% $(0.0000) if Non-Displayed. Additional $(.00005) if Adding ADV > 0.20% on Tapes B&C |
| 2 | Providing Tier 1 | $(0.0022) | Adding ADV>1.20% Tape A CADV and MocLoc>0.12% $(0.0000) if Non-Displayed. Additional $(.00005) if Adding ADV > 0.20% on Tapes B&C |
| 2 | Floor Provide | $(0.00190) | $(0.0022) if Floor provide >0.33% Tape A CADV, $(0.0020) if Floor provide >0.07% Tape A CADV, $(0.0022) if member is at providing Tier 1, $(0.0020) if Tier 2 |
| 2 | SLP Provide | $(.0012/23) | Adding ADV> 0.20% Tape A CADV, otherwise (.0000/.0006) If Non-Displayed. Additional $(.0001) if SLP > 0.30% on Tapes B&C |
| 2 | SLP Step Up Tier | $(.0018) | Adding ADV > 0.085% Tape A CADV over April 2018, $(.0001) if Non-Displayed. Additional $(.0001) if SLP > 0.30% on Tapes B&C |
| 2 | SLP Tier 2 | $(.0026) | Adding ADV > 0.45% Tape A CADV $(.0009) if Non-Displayed.Additional $(.0001) if SLP > 0.30% on Tapes B&C |
| 2 | SLP Tier 1A | $.(00275) | Adding ADV> 0.60% Tape A CADV, $(.00105) if Non-Displayed. Additional $(.0001) if SLP > 0.30% on Tapes B&C |
| 2 | SLP Tier 1 | $(.0029) | Adding ADV> 0.90% Tape A CADV (> 0.75% Tape A CADV if at SLP Tier 1 in Tapes B & C), $(.0012) if Non-Displayed. Additional $(.00005) on SLP and non-SLP Add if SLP > 0.30% on Tapes B&C |
| 2 | SLP Incremental Step Up Tier | Additional Credit based on the following step up (SLPs can only qualify for one of the these credits in a billing month) | Adding Tape A CADV over the lower of 2Q 2018 Baseline or 3Q 2018 Baselines as follows:
|
| 2 | DMM Provide | $(.0015/ 27/31/34/35) | Plus credit per issue under 1.5 million CADV in issues meeting quoting requirements as listed in the fee schedule |
| 3 | Blended or Broker d-Quotes (except when providing) | $0.00050 | $.00150 if > 500K ADV |
| 4 | Charge for market at-the-close orders | $0.0010 | $0.0004 @ 0.45% MOC of Tape A CADV, 0.70% Total Close of Tape A CADV and 35% MOC of firm Total Close for the prior 3 months, $0.0005 @ 0.35% MOC of Tape A CADV, 0.525% Total Close of Tape A CADV and 35% MOC of firm Total Close for the prior 3 months, $0.0008 @ 0.25% MOC of Tape A CADV, 0.35% Total Close of Tape A CADV and 35% MOC of firm Total Close for the current month, . $0.0005 for Floor MOC |
| 5 | Opening Executions | $0.0010 $0.0003 for Floor |
$30k Monthly Cap |
| 6 | Electronic Executions at the Close - Not MOC/LOC (25 min until 3 min prior to close) | No Charge | $.0007 if > 750K ADV |
| 7 | Charge for limit at-the-close orders | $0.0011 | $0.0007 @ 0.45% MOC of Tape A CADV, 0.70% Total Close of Tape A CADV and 35% MOC of firm Total Close for the prior 3 months, $0.0008 @ 0.35% MOC of Tape A CADV, 0.525% Total Close of Tape A CADV and 35% MOC of firm Total Close for the prior 3 months, $0.0009 @ 0.25% MOC of Tape A CADV, 0.35% Total Close of Tape A CADV and 35% MOC of firm Total Close for the current month |
| 8 | Retail Price Improvement Orders | $0.0003 credit / $0.0003 fee | $0.0003 credit RLPs meeting quoting requirements, RLPs in the first two months, and non-RLPs with >500K ADV in retail provide |
| 9 | Retail Orders from RMOs taking liquidity | No Charge | For RMO retail orders that take against RPIs, otherwise regular take/route fees apply |
| 10 | Retail MPL Orders from RMOs taking Liquidity | $0.0010 | |
| 11 | Midpoint Passive Liquidity Order taking liquidity | $0.0030 | $0.0007 @ 0.45% MOC of Tape A CADV, 0.70% Total Close of Tape A CADV and 35% MOC of firm Total Close, $0.0008 @ 0.35% MOC of Tape A CADV, 0.525% Total Close of Tape A CADV and 35% MOC of firm Total Close |
| 12 | Midpoint Passive Liquidity Order providing liquidity | $(0.0010) | $(.00275) if Adding ADV>0.14% Tape A CADV. $(.0025) if Adding ADV>0.03% Tape A CADV,. Liquidity tag returned in Tag 9426 |
| 13 | Retail Orders that add liquidity | $(0.0030) | For orders that add liquidity and are designated as retail (i.e., orders that satisfy the Retail Modifier requirements of Rule 13) |
| 14 | Retail MPL orders that take liquidity | $.0010 | For MPL orders that take liquidity and are designated as retail (i.e., orders that satisfy the Retail Modifier requirements of Rule 13) |
| 15 | Closing Offset | No Charge | |
| 16 | Electronic Executions at the Close - Not MOC/LOC (Earlier than 25 min prior to close) | No Charge | $.0003 if > 750K ADV |
| 17 | Electronic Executions at the Close - Not MOC/LOC (After 3 minutes prior to close) | No Charge | $.0010 if > 750K ADV $0.0008 if > 750K ADV and MOC/LOC Tier 1& 2 |
| NA | Agency transactions between floor brokers in the crowd or a broker cross | $(0.0006) | |
| Alpha | Routing fee | $0.0035 for Tapes A, B, and C | $0.0030 if Adding ADV > 0.20% in Tape A, B & C Combined |