Wall Street Letter VOL. XLV, NO. 36 - December 2013 | Page 16

SUMMARY OF FEE
CH ANGES AT E XCH ANGES

SOURCE: EXCHANGE RULE FILINGS

WEEK COMMENCING 2 DECEMBER 2013
NAME OF
EXCHANGE

SUMMARY OF
CHANGE

NEW FEE

CHANGED FROM

EFFECTIVE
DATE

EXPLANATION

BZX
Exchange

$0.0001 per share rebate for B2B
strategy; $0.0001 per share rebate
for TRIM/TRIM2/TRIM 3 orders
executed at BYX; $0.0001 per share
rebate for SLIM orders executed
at BYX

$0.0002 per share rebate for
B2B strategy; $0.0002 per share
rebate for TRIM/TRIM2/TRIM 3
orders executed at BYX; $0.0002
per share rebate for SLIM orders
executed at BYX

Nov. 1

Intends to directly pass through
fees from BYX.

CBOE
Stock
Exchange

Establishes a
Responsible
Person fee

$500 one-time fee

N/A

Nov. 14

The Responsible Person fee will
not be charged to someone who
is also an associated person at the
same trading permit holder.

Amends fees to
add liquidity in
securities priced
at $1 or more

16

Amends fees for
strategies that
route to BYX
Exchange

$0.0015 per share fee to add at
least 0.24% but less than 0.33% of
TCV of liquidity in one day; $0.0014
per share fee to add at least 0.33%
but less than 0.42% of TCV liquidity
in one day; $0.0013 per share fee
to add at least 0.42% but less than
0.52% of TCV of liquidity in one
day; $0.0012 per share fee to add
0.52% or more of TCV of liquidity
in one day

$0.0015 per share fee to add at
least 0.24% but less than 0.42%
of TCV of liquidity in one day;
$0.0014 per share fee to add
0.42% or more of TCV liquidity
in one day

Dec. 2

Intended to encourage participants to add liquidity to CBSX.

EDGA
Exchange

Amends some
routing fees

$0.0030 per share fee for orders
routed to PSX using ROUC or
ROUE strategies; $0.0018 per share
fee for orders routed to CBSX

$0.0028 per share fee for orders
routed to PSX using ROUC or
ROUE strategies; $0.0050 per
share fee for orders routed to
CBSX

Nov. 1

International
Securities
Exchange

Establishes Disaster Recovery
Network fee

$2,300 per month for a half cabinet;
$2,800 per month for a full cabinet

N/A

Immediately

Amends options
regulatory fee

$0.0039 per contract fee

$0.0042 per contract fee

Immediately

Amends fees
to take liquidity
for Priority Customers in Select
Symbols

$0.32 per contract fee for standard
options; $0.032 per contract fee for
mini options

$0.28 per contract fee for standard options; $0.028 per contract
fee for mini options

Immediately

Intends to assess fee that is within
range of fees charged by other
exchanges with similar pricing
schedules.

Establishes additional fee/rebate
tier for Priority
Customers in
complex orders

$0.41 per contract rebate ($0.041
for mini options) for Select Symbols
ex-SPY; $0.42 per contract rebate
($0.042 for mini options) for SPY;
$0.79 $0.079 for mini options)
per contract rebate for non-Select
Symbols; $0.19 per contract rebate
($0.019 for mini options) for Priority Customer orders trading with
quotes and order on the regulator
order book, ex-SPY; $0.20 per
contract rebate ($0.020 for mini
options) for Priority Customer orders trading; $0.25 per contract PIM
breakup rebate ($0.025 for mini options) for Select Symbols; $0.15 per
contract facilitation and solicitation
breakup rebate ($0.015 for mini
options) for Select Symbols

N/A

Immediately

Applies to Priority Customers
with complex order ADV of
300,000 or more.

fees charged by PSX and CBSX.
Also applies to EDGX Exchange.

Applies to approved telecom
vendors.

the cost of regulatory costs.