Fee Schedule
Effective November 1, 2021
Transaction Fees
MEMX Members are charged per share fees or provided per share rebates based on shares executed within each of the fee code categories below.
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| Fee Code | Description | Fee/(Rebate) – Securities at or above $1.00 (“A”) | Fee/(Rebate) – Securities below $1.00 (“B”) |
|---|---|---|---|
| B,D or J | Added displayed volume | $(0.0028) | (0.05% of total dollar value) |
| B1, D1 or J1 | Added displayed volume, Liquidity Provision Tier 1 | $(0.00335) | (0.05% of total dollar value) |
| B2, D2 or J2 | Added displayed volume, Liquidity Provision Tier 2 | $(0.0031) | (0.05% of total dollar value) |
| Bq1, Dq1 or Jq1 | Added displayed volume, DLI Tier 1 | $(0.0035) | (0.05% of total dollar value) |
| Bq2, Dq2 or Jq2 | Added displayed volume, DLI Tier 2 | $(0.0034) | (0.05% of total dollar value) |
| Br, Dr or Jr | Added displayed volume, Retail Order | $(0.0037) | (0.05% of total dollar value) |
| H | Added non-displayed volume | $(0.0020) | (0.05% of total dollar value) |
| M | Added non-displayed volume, Midpoint Peg | $(0.0025) | 0.05% of total dollar value) |
| R | Removed volume from MEMX Book | $(0.0020) | 0.05% of total dollar value |
| R1 | Removed volume from MEMX Book, Liquidity Removal Tier 1 | $0.0027 | 0.05% of total dollar value |
| Z | Routed to another market, removed liquidity | $0.0030 | 0.30% of total dollar value |
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Notes: The Reserve Quantity of an order is treated as adding displayed volume, and thus, the rebate for adding displayed volume applies to any Reserve Quantity of an order.
Membership, Market Data, and Connectivity Fees
MEMX does not charge fees for membership, market data products, physical connectivity or application sessions.
Additional Fees
Additional fees are set forth in Rule 15.1 of the MEMX Rulebook. Such fees include Regulatory Transaction Fees collected to fund MEMX’s Section 31 obligations and fees collected through the CRD registration system for registration of associated persons of Members that are not also FINRA members.