The ISE Stock Exchange, which already provides the most aggressive credit to liquidity providers, is on May 1 introducing a second pricing tier to attract higher-volume trading firms. Meanwhile, tiered-pricing pioneer Nasdaq Stock Market is changing its rebate and fees for top-tier providers, making those levels easier to reach.
For members trading an average of 5 million shares daily, the International Securities Exchange's equities market is raising its credit to $0.0035 per share for Tape A, B and C securities. That credit has been $0.0032 since the start of the year, when it was raised from $0.0025. The fee to take liquidity on the exchange, which began operations in December 2006, will remain at $0.003.
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