OREANDA-NEWS. October 03, 2016. Nasdaq Stock Market (“Nasdaq”) will offer enhanced Designated Liquidity Provider (DLP) rebates for exchange traded products (ETPs). A summary of the changes are below:
- Nasdaq will be changing the name of Lead Market Maker to Designated Liquidity Provider.
- Nasdaq will off the following standard trade rebates to DLPs.
Less than 500k |
Between 500k and 5 Million |
Greater than 5 Million |
---|
\\$0.0047 |
\\$0.0042 |
\\$0.0036 |
|
- Nasdaq will offer enhanced rebates for new products. New products will be offered enhanced DLP rebates for a period of three years.
0-12 months of product launch |
12-24 months of product launch |
24-36 months of product launch |
---|
\\$0.0070 |
\\$0.0065 |
\\$0.0055 |
|
- DLPs will be offered additional incremental trade rebates based on the number of ETPs taken on as DLP. Additional incentives will apply to a DLPs trading activity across Nasdaq ETP primary listings.
Tiers |
1 |
2 |
3 |
---|
Minimum Number of Assigned ETPs as DLP |
10 |
25 |
50 |
Incremental Tape C ETP Rebate |
\\$(0.0003) |
\\$(0.0004) |
\\$(0.0005) |
To encourage increased DLP participants, Nasdaq will extend an incremental additional Tape C ETP rebate of \\$0.0001 to any DLP with less than 10 DLP assignments, but that increases the number of ETPs for which it is a DLP by 100%. A DLP receiving its first assignment will count as a 100% increase. This incremental rebate is only available for the first 100% increase and thus is not available for subsequent increases of 100%.
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