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.