NYSE Euronext, a global exchange group, has announced new transaction pricing structures for the New York Stock Exchange (NYSE) and NYSE Arca, in a move to attract more high-frequency business to both trading venues.
The change in fees will be introduced in March 2009, in conjunction with a technology upgrade that will improve execution speeds on the NYSE platform.
NYSE will introduce customer rebates of $0.001 per share for posted displayed and non-displayed orders. Floor brokers will receive an increase in their rebate fee from $0.0004 per share to $0.0012, although this will be offset by an increase in the transaction fee for removing liquidity to $0.0018, from $0.0008.
The fees for NYSE Arca, a stocks and options trading platform, will depend on a customer’s average daily share volume recorded over a month. Members who trade an average of 90 million shares in Tape A (NYSE-listed), Tape B (regional exchange-listed), and Tape C (Nasdaq-listed) securities, for example, while adding liquidity of more than 45 million shares, will be subject to an inverted pricing structure for a minimum of three months. The rebate for these members will be $0.0028 per share compared to a $0.0027 charge for removing liquidity.
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