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Tuesday, January 02, 2018

Options Trader Alert #2018 - 1
Revised- Nasdaq GEMX Updated Pricing, Effective January 2, 2018

Category:

  • Pricing

Markets Impacted:

Contact Information:

Resources:

Please note revisions to Options Trader Alert #2017-79 Nasdaq GEMX Updated Pricing, Effective January 2, 2018, highlighted below.

Effective Tuesday, January 2, 2018, pending filing with the SEC, the following changes will apply to Nasdaq GEMX. Changes are represented with the current per contract rebates/fees appearing in strike through text and the proposed per contract rebates/fees appearing in bold text.

Penny Symbols and SPY

  • The Maker Rebates in Penny Symbols and SPY will be amended to the following:
ParticipantMaker Rebate: Tier 1Maker Rebate: Tier 2Maker Rebate: Tier 3Maker Rebate: Tier 4
Market Maker ($0.30) ($0.28) ($0.32) ($0.30) ($0.34) ($0.35)($0.45)
Non-GEMX Market Maker (FarMM)($0.25)N/AN/AN/A
Firm Proprietary/Broker Dealer($0.25)N/AN/AN/A
Professional Customer($0.25)N/AN/AN/A
Priority Customer($0.25)($0.40)($0.48)($0.53)
  • The Taker Fees in Penny Symbols and SPY will be amended to the following:
ParticipantTaker Fee: Tier 1Taker Fee: Tier 2Taker Fee: Tier 3Taker Fee: Tier 4
Market Maker $0.49 $0.50 $0.49 $0.50 $0.49 $0.50$0.48
Non-GEMX Market Maker (FarMM) $0.49 $0.50 $0.49 $0.50 $0.49 $0.50$0.48
Firm Proprietary/Broker Dealer $0.49 $0.50 $0.49 $0.50 $0.49 $0.50$0.49
Professional Customer $0.49 $0.50 $0.49 $0.50 $0.49 $0.50$0.49
Priority Customer$0.48$0.47$0.47$0.45
  • The Taker Fees for removing a Priority customer in a Penny Symbol or SPY, as outlined in footnote 13 of Table 1 of the Nasdaq GEMX Fee Schedule, will remain as is.


  • The fee for responding to any non-PIM crossing order in Penny Symbols or SPY will be increased from $0.49 for Non-Priority Customers and $0.45 for Priority Customers to $0.50 per contract for all members.


  • The exchange will eliminate the higher rebate on contracts in Penny Symbols and SPY for members that execute a Priority Customer Maker ADV of 5,000 to 19,999 contracts in a given month, as outlined in footnote 7 of Table 1 of the Nasdaq GEMX Fee Schedule. Priority Customers will follow the normal tier schedule for fee charges.


  • Non-Penny Symbols (Excluding Index Options)

    • The Maker Rebates in Non-Penny Symbols will be amended to the following:

    ParticipantMaker Rebate: Tier 1Maker Rebate: Tier 2Maker Rebate: Tier 3Maker Rebate: Tier 4
    Market Maker($0.40)($0.42) ($0.50) ($0.45)($0.75)
    Non-GEMX Market Maker (FarMM)($0.25)N/AN/AN/A
    Firm Proprietary/Broker Dealer($0.25)N/AN/AN/A
    Professional Customer($0.25)N/AN/AN/A
    Priority Customer($0.75)($0.80)($0.85)($1.05)
    • The Taker Fees in Non-Penny Symbols will be amended to the following:

    ParticipantTaker Fee: Tier 1Taker Fee: Tier 2Taker Fee: Tier 3Taker Fee: Tier 4
    Market Maker $0.89 $0.99 $0.89 $0.99 $0.89 $0.99 $0.89 $0.94
    Non-GEMX Market Maker (FarMM) $0.89 $0.99 $0.89 $0.99 $0.89 $0.99 $0.89 $0.94
    Firm Proprietary/Broker Dealer $0.89 $0.99 $0.89 $0.99 $0.89 $0.99 $0.89 $0.94
    Professional Customer $0.89 $0.99 $0.89 $0.99 $0.89 $0.99 $0.89 $0.94
    Priority Customer $0.82 $0.85 $0.81 $0.85 $0.81 $0.85 $0.81 $0.82
    • The Taker Fees for removing a Priority customer in a Non-Penny Symbol (Excluding Index Options), as outlined in footnote 16 of Table 1 of the Nasdaq GEMX Fee Schedule, will remain as is.


    • The fee for responding to any non-PIM crossing order in Non-Penny Symbols will be increased from $0.89 for Non-Priority Customers and $0.82 for Priority Customers to $1.00 per contract for all members.


    • The exchange will eliminate the higher rebate on contracts in Non-Penny Symbols for members that execute a Priority Customer Maker ADV of 5,000 to 19,999 contracts in a given month as outlined in footnote 8 of Table 1 of the Nasdaq GEMX Fee Schedule. Priority Customers will follow the normal tier schedule for fee charges.



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