Joining rival venues who have been adjusting their fee schedules, electronic communications network (ECN) Direct Edge on May 1 instituted a pricing tier that credits an extra $0.0003 per share to members who add 40 million shares daily.
Direct Edge's EDGX platform now rebates $0.0025 per share for providing liquidity and charges $0.0026 for taking it across all three tapes. At the start of the year, the ECN put in place a $0.0027 rebate and $0.0028 fee for Tape A--New York Stock Exchange-listed--securities and a $0.0026 rebate and charge for Nasdaq-listed Tape C stocks. There are no rebates or fees on its EDGA platform.
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