Bats EDGX Exchange Fee Schedule

Effective January 3, 2017

Transaction Fees:

  • Rebates indicated by parentheses ( ).
  • The rates listed in the Standard Rates table apply unless a Member’s transaction is assigned a fee code other than a standard fee code. If a Member’s transaction is assigned a fee code other than a standard fee code, the rates listed in the Fee Codes table will apply.
  • Footnotes provide further explanatory text or, where annotated to fee codes, indicate variable rate changes, provided the conditions in the footnote are met.
  • Unless otherwise noted, all routing fees or rebates in the Fee Codes and Associated Fees table are for removing liquidity from the destination venue.

Standard Rates:

Category Adding Liquidity Removing Liquidity Routing and Removing Liquidity
Securities at or above $1.00 $(0.0020)1 $0.0029 $0.0029
Securities below $1.00 $(0.00003) 0.30% of Dollar Value 0.30% of Dollar Value
Standard Fee Codes B, V, Y, 3, 4 N, W, 6, BB, ZR X

Fee Codes and Associated Fees:

Fee CodeDescriptionFee/(Rebate) Securities at or above $1.00Fee/(Rebate) Securities below $1.00
10Routed to NYSE Arca, adds liquidity (Tape B) (0.00220) Free
2Routed to NASDAQ using INET routing strategy (Tape B) 0.00300 0.30% of Dollar Value
3Adds liquidity to EDGX, pre and post market (Tapes A or C) (0.00200) (0.00003)
4Adds liquidity to EDGX, pre and post market (Tape B) (0.00200) (0.00003)
6Removes liquidity from EDGX, pre and post market (All Tapes) 0.00290 0.30% of Dollar Value
7Routed, pre and post market 0.00300 0.30% of Dollar Value
8Routed to NYSE MKT LLC, adds liquidity (0.00150) Free
9Routed to NYSE Arca, adds liquidity (Tapes A or C) (0.00210) Free
ARouted to NASDAQ, adds liquidity (0.00150) Free
AARouted to EDGA using ALLB routing strategy (0.00020) Free
AYRouted to BYX using ALLB routing strategy (0.00150) 0.10% of Dollar Value
AZRouted to BZX using ALLB routing strategy 0.00300 0.30% of Dollar Value
BAdds liquidity to EDGX (Tape B) (0.00200) (0.00003)
BBRemoves liquidity from EDGX (Tape B) 0.00290 0.30% of Dollar Value
BYRouted to BYX using Destination Specific ("DIRC"), ROUC or ROUE routing strategy (0.00150) 0.10% of Dollar Value
CRouted to BX (0.00110) 0.10% of Dollar Value
CLRouted to listing market closing process, except for NYSE Arca & BZX 0.00100 0.30% of Dollar Value
DRouted to NYSE or routed using RDOT routing strategy 0.00275 0.30% of Dollar Value
EAInternalization, adds liquidity 0.00045 0.15% of Dollar Value
ERInternalization, removes liquidity 0.00045 0.15% of Dollar Value
FRouted to NYSE, adds liquidity (0.00150) Free
GRouted to NYSE Arca (Tapes A or C) 0.00300 0.30% of Dollar Value
HANon-displayed order, adds liquidity (0.00150) (0.00003)
HINon-displayed order that receives price improvement, adds liquidityFreeFree
IRouted to EDGA 0.00290 0.30% of Dollar Value
JRouted to NASDAQ 0.00300 0.30% of Dollar Value
KRouted to PSX using ROUC or ROUE routing strategy 0.00290 0.30% of Dollar Value
LRouted to NASDAQ using INET routing strategy (Tapes A or C) 0.00300 0.30% of Dollar Value
MMNon-displayed order, adds liquidity using Mid-Point Peg (0.00150) (0.00003)
NRemoves liquidity from EDGX (Tape C) 0.00290 0.30% of Dollar Value
NARouted to BZX, NYSE, NYSE Arca, NYSE MKT or Nasdaq; adds non-displayed liquidityFreeFree
NBRouted to any exchange not covered by Fee Code NA, adds non-displayed liquidity 0.00300 0.30% of Dollar Value
ORouted to listing market opening or re-opening cross 0.00100 0.30% of Dollar Value
OOEDGX Opening or Re-Opening 0.00100 Free
PRRemoves liquidity from EDGX using ROUQ routing strategy 0.00290 0.30% of Dollar Value
QRouted to a non-exchange destination using ROUC routing strategy 0.00200 0.30% of Dollar Value
RRe-routed by NYSE 0.00300 0.30% of Dollar Value
RARouted to EDGA, adds liquidity 0.00050 Free
RBRouted to BX, adds liquidity 0.00200 Free
RNRouted to NASDAQ using ROOC routing strategy, adds liquidity (0.00150) Free
RPNon-displayed order, adds liquidity using Supplemental Peg (0.00150) (0.00003)
RQRouted using ROUQ routing strategy 0.00290 0.30% of Dollar Value
RRRouted to EDGA using DIRC routing strategy (0.00020) 0.30% of Dollar Value
RTRouted using ROUT routing strategy 0.00300 0.30% of Dollar Value
RXRouted using ROUX routing strategy 0.00300 0.30% of Dollar Value
RYRouted to BYX, adds liquidity 0.00180 Free
RZRouted to BZX, adds liquidity (0.00200) Free
SDirected ISO 0.00320 0.30% of Dollar Value
SWRouted using SWPA/SWPB routing strategy (except for removal of liquidity from NYSE) 0.00310 0.30% of Dollar Value
TRouted to a non-exchange destination using ROUD or ROUE routing strategy 0.00120 0.30% of Dollar Value
VAdds liquidity to EDGX (Tape A) (0.00200) (0.00003)
VIDisplayed order subject to price sliding that receives price improvement, adds liquidityFreeFree
WRemoves liquidity from EDGX (Tape A) 0.00290 0.30% of Dollar Value
XRouted 0.00290 0.30% of Dollar Value
YAdds liquidity to EDGX (Tape C) (0.00200) (0.00003)
ZRouted to a non-exchange destination using ROUZ routing strategy 0.00120 0.30% of Dollar Value
ZARetail Order, adds liquidity (0.00340) (0.00003)
ZRRetail Order, removes liquidity 0.00290 0.30% of Dollar Value

Definitions:

  • ADAV means average daily added volume calculated as the number of shares added per day and ADV means average daily volume calculated as the number of shares added to, removed from, or routed by, the Exchange, or any combination or subset thereof, per day. ADAV and ADV is calculated on a monthly basis.
    • The Exchange excludes from its calculation of ADAV and ADV shares added, removed, or routed on any day that the Exchange's system experiences a disruption that lasts for more than 60 minutes during Regular Trading Hours ("Exchange System Disruption"), on any day with a scheduled early market close, and on the last Friday in June (the "Russell Reconstitution Day").
    • With prior notice to the Exchange, a Member may aggregate ADAV and ADV with other Members that control, are controlled by, or are under common control with such Member (as evidenced on such Member's Form BD).
  • OCC Customer Volume or OCV means, for purposes of equities pricing, the total equity and ETF options volume that clears in the Customer range at the Options Clearing Corporation ("OCC") for the month for which the fees apply, excluding volume on any day that the Exchange experiences an Exchange System Disruption and on any day with a scheduled early market close, using the definition of Customer as provided under the Exchange’s fee schedule for EDGX Options.
  • TCV means total consolidated volume calculated as the volume reported by all exchanges and trade reporting facilities to a consolidated transaction reporting plan for the month for which the fees apply.
    • The Exchange excludes from its calculation of TCV volume on any day that the Exchange experiences an Exchange System Disruption, on any day with a scheduled early market close, and the Russell Reconstitution Day.

General Notes:

  • Unless otherwise indicated, rebates and charges for adding, removing or routing liquidity are listed as per share rebates and charges.
  • The Exchange notes that to the extent a Member does not qualify for any of the tiers listed below, the rates listed in the above section titled "Fee Codes and Associated Fees" will apply.
  • To the extent a Member qualifies for higher rebates and/or lower fees than those provided by a tier for which such Member qualifies, the higher rebates and/or lower fees shall apply.
  • Variable rates provided by tiers apply only to executions in securities priced at or above $1.00.
  • Fee codes applicable to orders routed to NYSE Arca will be applied to orders routed to the NYSE or NYSE MKT where, pursuant to NYSE and NYSE MKT Rule 49, the NYSE or NYSE MKT have designated NYSE Arca as their backup facility to receive and process bids and offers and to execute orders on behalf of the NYSE or NYSE MKT.

Footnotes:

  1. Add Volume Tiers:

    The rebates to add provided by the below add volume tiers are applicable to the following fee codes: B, V, Y, 3 and 4.

    Tier Rebate Per Share to Add Required Criteria
    Mega Tier 1 ($0.0032) Member adds an ADV ≥ 0.75% of the TCV.
    Mega Tier 2 ($0.0032)
    1. Member adds or routes a combined ADV ≥ 4,000,000 shares prior to 9:30 AM or after 4:00 PM; and
    2. Member adds an ADV ≥ 0.65% of the TCV, including during both market hours and pre and post-trading hours.
    Mega Tier 3 ($0.0031) Member adds an ADV ≥ 0.45% of the TCV.
    Ultra Tier ($0.0030) Member adds an ADV ≥ 0.30% of the TCV.
    Super Tier ($0.0028) Member adds an ADV ≥ 0.15% of the TCV.
    Growth Tier ($0.0025) Member adds an ADV ≥ 0.08% of the TCV.
    Investor Tier ($0.0032)
    1. Member adds an ADV ≥ 0.20% of the TCV; and
    2. Member has an “added liquidity” as a percentage of “added plus removed liquidity” ≥ 85%.
    Investor Depth ($0.0033)
    1. Member adds an ADV ≥ 0.15% of the TCV; and
    2. Member has an “added liquidity” as a percentage of “added plus removed liquidity” ≥ 85%; and
    3. Member adds an ADV ≥ 400,000 shares as Non-displayed orders that yield fee code HA, HI, and/or MM.
    Single MPID Cross-Asset Tier ($0.0030)
    1. MPID has on EDGX Options an ADAV in Market Maker orders ≥ 0.12% of average OCV; and
    2. MPID has an ADAV ≥ 0.12% of average TCV.
  2. Tape B Volume Tiers:

    The rebates to add provided by the below tiers are applicable to the following fee codes: B and 4.

    Tier Rebate Per Share to Add Required Criteria
    Tier 1 ($0.0027) Member adds an ADV ≥ 0.02% of the TCV in Tape B securities.
    Tier 2 ($0.0030) Member adds an ADV ≥ 0.15% of the TCV in Tape B securities
  3. Reserved

  4. The Exchange notes that Members will only be able to designate their orders as Retail Orders on either an order-by-order basis using FIX ports or by designating certain of their FIX ports at the Exchange as "Retail Order Ports."

  5. Capped at $35,000 per month per Member.

  6. Reserved.

  7. If a Member adds an ADV of at least 10,000,000 shares, then the Member's rate for internalization (fee codes EA or ER) decreases to $0.0001 per share per side.

  8. Fee code D will be yielded if an SWPA or SWPB routing strategy removes liquidity from NYSE.

  9. Fee code O will be yielded if an order is routed to NYSE Arca & BZX's closing processes.

  10. Reserved.

  11. The fee or rebate for adding non-displayed liquidity does not apply to the Reserve Quantity of an order or an order with a Discretionary Range instruction.

Late Fees:

A charge of 1% per month on the past due portion of the balance will be assessed on a Member's account that is past due. This fee will begin to accrue on a daily basis for items not paid within the 30 day payment terms until the item is paid in full. Late fees incurred will be included as line items on subsequent invoices.

Logical Port Fees:

Service Fee
Logical Ports (excluding Multicast PITCH Spin Server Port or GRP Port) $550/port/month
Multicast PITCH Spin Server $550/set of primary (A or C feed)
Multicast PITCH GRP Ports $550/primary (A or C feed)
  • Logical port fees are limited to logical ports within the primary data center. No logical port fees will be assessed for redundant secondary data center ports.
  • Multicast PITCH is available through one of two primary feeds, either the A or C feed. All secondary feed Multicast PITCH Spin Server and GRP Ports are provided for redundancy at no additional cost.
  • New requests will be prorated for the first month of service. Cancellation requests are billed in full month increments as firms are required to pay for the service for the remainder of the month, unless the session is terminated within the first month of service.

Physical Connectivity Fees:

Connection Service Type Fee per Physical Port
1 Gb physical port $2,000/month
10 Gb physical port $6,000/month

Note: The Exchange will pass-through in full any fees or costs in excess of $1,000.00 incurred by the Exchange to complete a cross-connect.

Membership Fees:

Membership Fee Type Fee
Firm Membership $2,500/year1
  1. If a Member is pending a voluntary termination of rights as a Member pursuant to Rule 2.8 prior to the date any Annual Membership Fee for a given year will be assessed (i.e., September 1, 2011, January 1, 2012, etc.) and the Member does not utilize the facilities of EDGX during such time, then the Member will not be obligated to pay the Annual Membership Fee.

Market Data Fees:

Definitions

  • A Distributor of an Exchange Market Data product is any entity that receives the Exchange Market Data product directly from the Exchange or indirectly through another entity and then distributes it internally or externally to a third party.
  • An Internal Distributor of an Exchange Market Data product is a Distributor that receives the Exchange Market Data product and then distributes that data to one or more Users within the Distributor's own entity.
  • An External Distributor of an Exchange Market Data product is a Distributor that receives the Exchange Market Data product and then distributes that data to a third party or one or more Users outside the Distributor's own entity.
  • A User of an Exchange Market Data product is a natural person, a proprietorship, corporation, partnership, or entity, or device (computer or other automated service), that is entitled to receive Exchange data.
  • A Non-Professional User of an Exchange Market Data product is a natural person who is not: (i) registered or qualified in any capacity with the Commission, the Commodity Futures Trading Commission, any state securities agency, any securities exchange or association, or any commodities or futures contract market or association; (ii) engaged as an "investment adviser" as that term is defined in Section 202(a)(11) of the Investment Advisers Act of 1940 (whether or not registered or qualified under that Act); or (iii) employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt.
  • A Professional User of an Exchange Market Data product is any User other than a Non-Professional User.
  • Non-Display Usage means any method of accessing a Market Data product that involves access or use by a machine or automated device without access or use of a display by a natural person or persons.
  • A Trading Platform is any execution platform operated as or by a registered National Securities Exchange (as defined in Section 3(a)(1) of the Exchange Act), an Alternative Trading System (as defined in Rule 300(a) of Regulation ATS), or an Electronic Communications Network (as defined in Rule 600(b)(23) of Regulation NMS).

EDGX Depth:

Delivery Fee
Internal Distributor $1,500/month
External Distributor $2,500/month
Non-Display Usage by Trading Platforms* $5,000/month
Professional User Fee $40.00/month
Non-Professional User Fee $5.00/month
Enterprise Fee** $100,000/month

External Distributors of EDGX Depth may also receive, upon request and at no additional External Distribution Fee, access to EDGX Top (as described in Rule 13.8(c)) or EDGX Last Sale (as described in Rule 13.8(d)) for External Distribution.

* Fee is charged per subscriber that uses the data within a Trading Platform. The fee represents the maximum charge per subscriber regardless of the number of Trading Platforms operated by the subscriber that receives the data for Non-Display Usage.

** As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive the EDGX Depth Feed from a Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each Distributor that controls the display of the EDGXX Depth Feed if it wishes such User to be covered by the Enterprise Fee. The Enterprise Fee is in addition to the Distributor Fee.

EDGX Depth Attributed:

In addition to EDGX Depth fees, as described above, all subscribers to EDGX Depth Attributed will also incur the following fees:

Delivery Fee
Internal Distributor $2,500/month
External Distributor $5,000/month

EDGX Summary Depth:

Internal Distribution

Distribution Fee $5,000/month
Professional User Fee $0/month
Non-Professional User Fee $0/month

External Distribution

Distribution Fee $2,500/month*
Professional User Fee** $5.00/month
Non-Professional User Fee** $0.15/month
Enterprise Fee*** $30,000/month
Digital Media Enterprise Fee**** $7,500/month

* New External Distributor Credit. New External Distributors of the EDGX Summary Depth Feed will not be charged an External Distributor Fee for their first one (1) month in order to allow them to enlist new Users to receive the EDGX Summary Depth Feed.

** Each External Distributor will be eligible to receive a credit against its monthly Distributor Fee for the EDGX Summary Depth Feed equal to the amount of its monthly User Fees up to a maximum of the External Distributor Fee for the EDGX Summary Depth Feed.

*** As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive the EDGX Summary Depth Feed from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of the EDGX Summary Depth Feed if it wishes such User to be covered by the Enterprise Fee. The Enterprise Fee is in addition to the Distributor Fee.

**** As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive the EDGX Summary Depth Feed from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

EDGX Book Viewer:*

Internal Distribution

Distribution Fee $500/month
Professional User Fee $0/month
Non-Professional User Fee $0/month

External Distribution

Distribution Fee $2,500/month
Professional User Fee** $3.00/month
Non-Professional User Fee** $0.15/month
Enterprise Fee*** $20,000/month
Digital Media Enterprise Fee**** $5,000/month

* Fees applicable for distribution other than viewing via a Bats website.

** Each External Distributor will be eligible to receive a credit against its monthly Distributor Fee for EDGX Book Viewer equal to the amount of its monthly User Fees up to a maximum of the Distributor Fee for EDGX Book Viewer.

*** As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive EDGX Book Viewer from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of EDGX Book Viewer if it wishes such User to be covered by the Enterprise Fee.

**** As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive EDGX Book Viewer from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

EDGX Top:

Internal Distribution

Distribution Fee $500/month
Professional User Fee $0/month
Non-Professional User Fee $0/month

External Distribution

Distribution Fee $1,500/month*
Professional User Fee** $4.00/month
Non-Professional User Fee** $0.10/month
Enterprise Fee*** $15,000/month
Digital Media Enterprise Fee**** $2,500/month

Subscribers to EDGX Top may also receive, upon request and at no additional charge, access to EDGX Last Sale (as described in Rule 13.8(d)).

*New External Distributor Credit. New External Distributors of EDGX Top will not be charged an External Distributor Fee for their first one (1) month.

** Each External Distributor will be eligible to receive a credit against its monthly Distributor Fee for EDGX Top equal to the amount of its monthly User Fees up to a maximum of the Distributor Fee for EDGX Top.

*** As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive EDGX Top from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of EDGX Top if it wishes such User to be covered by the Enterprise Fee.

**** As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive EDGX Top from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

EDGX Last Sale:

Internal Distribution

Distribution Fee $500/month
Professional User Fee $0/month
Non-Professional User Fee $0/month

External Distribution

Distribution Fee $1,500/month*
Professional User Fee** $4.00/month
Non-Professional User Fee** $0.10/month
Enterprise Fee*** $15,000/month
Digital Media Enterprise Fee**** $2,500/month

Subscribers to EDGX Last Sale may also receive, upon request and at no additional charge, access to EDGX Top (as described in Rule 13.8(c)).

*New External Distributor Credit. New External Distributors of EDGX Last Sale will not be charged an External Distributor Fee for their first one (1) month.

** Each External Distributor will be eligible to receive a credit against its monthly Distributor Fee for EDGX Last Sale equal to the amount of its monthly User Fees up to a maximum of the Distributor Fee for EDGX Last Sale.

*** As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive EDGX Last Sale from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of EDGX Last Sale if it wishes such User to be covered by the Enterprise Fee.

**** As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive EDGX Last Sale from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

EDGX Historical Depth Data:

Delivery (Internal Use Only) Fee
Per Month of Access Data $500
Per 1 TB Drive of Data $2,500

Bats One FeedSM:

Internal Distributor

  Bats One Summary Bats One Premium
Distribution Fee $10,000/month $15,000/month
Professional User Fee $0/month $0/month
Non-Professional User Fee $0/month $0/month

External Distributor****

  Bats One Summary Bats One Premium
Distribution Fee $5,000/month* $12,500/month
Professional User Fee** $10/month $15/month
Non-Professional User Fee** $0.25/month $0.50/month
Enterprise Fee*** $50,000/month $100,000/month
Digital Media Enterprise Fee***** $15,000/month $25,000/month

*New External Distributor Credit. New External Distributors of the Bats One Summary Feed will not be charged an External Distributor Fee for their first one (1) month in order to allow them to enlist new Users to receive the Bats One Summary Feed.

**Each External Distributor will be eligible to receive a credit against its monthly Distributor Fee for the Bats One Feed equal to the amount of its monthly User Fees up to a maximum of the External Distributor Fee for the Bats One Feed.

***As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive the Bats One Feed from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of the Bats One Feed if it wishes such User to be covered by the Enterprise Fee. The Enterprise Fee is in addition to the Distributor Fee.

****Data Consolidation Fee. $1,000/month

*****As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive the Bats One Feed from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

Edge Attribution Incentive Program:

Members who enter Attributable Orders into the Exchange's System in at least 100 symbols over 10 consecutive trading days over the course of a month are eligible to participate in the Edge Attribution Incentive Program. Each month, the Exchange will set aside 25% of the revenue generated in connection with fees received from EdgeBook Attributed (the "Revenue Allotment"). From the Revenue Allotment, the Exchange will provide a payment to eligible Members who qualified for the Edge Attribution Incentive Program based on the percentage of executed share volume from their Attributable Orders entered into the Exchange's System.

Bats Connect:

Market Data Connectivity*:

Data Feed Fee Per Month
UQDF/UTDF/OMDF $1,200
CQS/CTS $1,400
OPRA $4,500
Nasdaq Glimpse $250
Nasdaq TotalView $1,500
Nasdaq BX TotalView $1,000
Nasdaq PSX TotalView $750
NYSE OpenBook Ultra $1,750
NYSE Integrated $14,500
NYSE ArcaBook $1,250
NYSE ArcaBook Refresh $250
NYSE MKT OpenBook Ultra $500
NYSE Alerts $500
NYSE MKT Alerts $500
NYSE Imbalances $500
NYSE MKT Imbalances $1,000
NYSE Trades $500
NYSE Arca Trades $500
NYSE MKT Trades $1,000
BBDS/TDDS $500
U.S. Equity Select + SIP Bundle (40% Discount)** $5,910
OPRA + SIP Bundle (10% Discount)*** $6,390
BZX/BYX/EDGX/EDGA FREE

* Fee covers both A and B feeds (over independent cross-connects) and is for connectivity only.

** U.S. Equity Select + SIP Bundle includes the following market data products: UQDF/UTDF/OMDF, CQS/CTS, Nasdaq TotalView, Nasdaq BX TotalView, Nasdaq PSX TotalView, NYSE OpenBook Ultra, NYSE ArcaBook, NYSE MKT OpenBook Ultra, and BBDS/TDDS.

*** OPRA + SIP Bundle includes the following market data products: OPRA, UQDF/UTDF/OMDF, and CQS/CTS.

Firms are required to pay any exchange related data fees directly to that exchange.

Unicast Access – Order Entry:

Bandwidth Fee Per Month
1Mb $500
5Mb $1,000
10Mb $1,250
25Mb $1,500
50Mb $2,500
100Mb $3,500

The Unicast Access – Order Entry fee shall not be charged for bandwidth required to access BZX, BYX, EDGA, EDGX, BZX Options, and EDGX Options.