04.03.2018

NYSE Announces B & C Tape Fees

In a Trader Update posted April 2, the New York Stock Exchange announced trading fees for Tape B and C securities.

The bourse also added that the next phase of NYSE Pillar will be the expansion of NYSE electronic and floor trading to all Reg NMS securities beginning on April 9, 2018.

Pending effectiveness of a filing with the SEC, the NYSE will implement the following fee changes, which will apply to all NYSE transactions for Tapes B and C Securities.

All volume requirements for pricing tiers will be waived until June 1, 2018. For example, standard displayed liquidity-providing executions will be credited $0.0026 and standard liquidity-removing executions will be charged $0.0028.

 

For securities at or above $1.00 per share:

Credit for adding liquidity:

  • $0.0020 for displayed liquidity unless a credit below applies:
  • $0.0026 per tape for displayed liquidity, $0.0025 if MPL order, if the firm has an Adding ADV
  • per tape of at least 0.05% of Consolidated Average Daily Volume (“CADV”)2
  •  $0.0023 per tape for displayed liquidity, if the firm has an Adding ADV per tape of at least
  • 0.01% of CADV
  •  $0.0026 for Floor brokers
  •  $0.0010 for MPL orders
  •  $0.0006 for cross trades (i.e., a trade where a Floor broker executes customer orders to buy and sell
  • an equivalent amount of the same security)
  •  No credit for non-displayed orders

 

Fee for removing liquidity:

  • $0.0026 for Floor brokers
  • $0.0028 per tape for firms adding at least 50,000 shares in Adding ADV per tape
  • $0.0030 for all others

 

Fee for routing:

  • $0.0005 per share executed in a NYSE American Auction, $0.0010 per share execution in an Away
  • Market Auction at venues other than NYSE American, $0.0030 per share for all other executions.

 

Details of the Tape B and C symbol migration schedule are available on nyse.com

Volume requirements are waived until June 1, 2018

Related articles

  1. European Fund Managers Gain Share

    Zero retail fees have migrated across the pond.

  2. 'Broker Bill' Assessed

    Legislation aims to divert some industry influence from exchanges to brokers.

  3. Rich Repetto Talks Exchanges, Market Structure, ETFs

    In equities, there's more going on than the IEX exchange application.