Nasdaq OMX Europe, a pan-European multilateral trading facility (MTF) owned by global exchange group Nasdaq, has introduced a rebate scheme that will reward participants for posting a certain amount of liquidity on the platform.
Users that post an average daily value of more than €20 million over the course of a month on Nasdaq OMX Europe will be paid a rebate of 0.65 basis points, and those adding more than €40 million will receive 0.75 bps.
The MTF says it has introduced the scheme to help ensure continued market share growth. The platform had a 0.44% pan-European market share on 15 June according to statistics from rival MTF BATS Europe, up from 0.09% at the beginning of 2009.
The new rebate scheme comes in addition to Nasdaq OMX Europe’s existing price promotions. It currently charges a 0.15 bps taker fee and pays a 0.15 bps maker rebate for NYSE Euronext-traded securities and charges 0.50 bps for orders routed to NYSE Euronext, the London Stock Exchange and Deutsche Börse.
The platform’s standard fee schedule is a maker rebate of 0.20 bps and a taker fee of 0.30 bps.