Stock market operator Nasdaq OMX has proposed changes to the pricing of its US exchange and BX trading platform, which will come into effect from 2 November 2009.
Market participants who add more than 35 million shares, and add, remove or route greater than 145 million shares in US equities on average per day on the main Nasdaq exchange will be charged $0.0028 for removing liquidity from Tape A and Tape C securities, up from $0.0027 previously.
Tape A comprises New York Stock Exchange-listed stocks, Tape B American Stock Exchange-listed securities and Tape C Nasdaq-listed shares.
In addition, the fees for the main exchange’s SCAN, STGY and DOT routing strategies will be increased to $0.0029 from $0.0026. Charges for routed orders that do not check the Nasdaq order book first or direct flow to the New York Stock Exchange will not be affected.
Nasdaq OMX will also standardise the equity pricing on its BX trading platform. From 2 November, trades in Tape A, B and C securities will attract a $0.0003 fee for adding liquidity and a $0.0001 rebate for removing it. The platform currently has a separate schedule for Tape B securities, which pays a $0.0014 rebate for adding liquidity and charges a $0.0016 take fee.
The changes are subject to approval by the Securities and Exchange Commission, the US securities regulator.