Market Center Fees
| Venue | Add Liquidity | Take Liquidity | Outbound Shares |
| ARCA (NASDAQ) | $0.0023 | ($0.0030) | ($0.0035) |
| ARCA (AMEX) | $0.0022 | ($0.0030) | ($0.0035) |
| ARCA (NYSE) | $0.0023 | ($0.0030) | ($0.0030) |
| BATS (NASDAQ) | $0.0024 | ($0.0025) | ($0.0026) |
| BATS (NYSE) | $0.0024 | ($0.0025) | ($0.0026) |
| BATS (AMEX) | $0.0024 | ($0.0025) | ($0.0026) |
| EDGX (NASDAQ) | $0.0025 | ($0.0028) | ($0.0029) |
| EDGX (NYSE) | $0.0025 | ($0.0028) | ($0.0029) |
| EDGX (AMEX) | $0.0030 | ($0.0028) | ($0.0029) |
| EDGA | ($0.0002) | $0.0002 | ($0.0029) |
| FLOW | $0.0023 | ($0.0028) | ($0.0028) |
| NASDAQ Displayed | $0.0020 | ($0.0030) | ($0.0030) |
| NASDAQ Hidden | $0.0010 | ($0.0030) | ($0.0030) |
| NASDAQ (Listed) | $0.0020 | ($0.0030) | ($0.0030) |
| BOSX (NYSE) | ($0.0008) | ($0.0004) | N/A |
| BOSX (NASDAQ) | ($0.0008) | ($0.0004) | N/A |
| BOSX (AMEX) | $0.0009 | ($0.0021) | N/A |
| NYSE | $0.0010 | ($0.0018) | ($0.0029) |
| NYSE AMEX | $0.0010 | ($0.0030) | ($0.0035) |
| ARCA (OTCBB) | $0.0000 | ($0.0030)* | ($0.0030)* |
| NITE (OTCBB) | $0.0000 | $0.0000 | $0.0000 |
| *for share prices less than $1.00, 30 basis points times the total trade value will be charged. |
| Fee | Multiplier | Additional Details |
| STC: | ($0.0000257) | Multiply this amount by the principal amount sold |
| FINRA TAF: | ($0.0000750) | Covers sales of exchange registered securities whenever executed. Multiply this amount by the number of shares sold |
If you want to send an order to buy 100 shares of AAPL. Your commission will have two components:
1) The $.00395 per share charged by Lightspeed
2) The market center fee charged to you or paid to you.
If you send this 100 share order as a market or marketable limit (take liquidity) order to NASDAQ, your total commission will be $0.70. This charge is made up of the $0.40 commission paid to Lightspeed plus the $0.30 market center fee charged by NASDAQ for taking liquidity.
However, If you send this 100 share order as a displayed limit (adding liquidity) order to NASDAQ, your total commission will only be $0.20. This charge is made up of the $0.40 commission paid to Lightspeed minus the $0.20 rebate given back to you by NASDAQ for adding liquidity.
You can choose to send your orders to exchanges which have lower market center fees or in some cases no market center fees at all. For Example, the EDGA ECN currently has ZERO charge for taking liquidity. There is also no rebate for adding liquidity. If your 100 share order is executed on the EDGA ECN your total commission will only total the $0.40 charged by Lightspeed.
The term “Outbound” refers to an order which is routed from its original destination to another venue.
EXAMPLE: You send an order to ARCA to buy XYZ at $20.05 while NSDQ is displaying an offer to sell at $20.04. ARCA will route your order to NSDQ for execution at the better price. This order routing is referred to as outbound.
As you can see, Lightspeed gives you full control over your order routing and the associated execution costs. Keep up to date with current routing fees charged by the exchanges to help you make the best decision about where to send your orders. Minimizing your execution costs = Keeping more of your profits.
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