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Effective April 1, 2022
There are pending changes to the Fee Schedule, which are effective April 1, 2022 and will be implemented on July 1, 2022. Please click here to view the changes.
Membership | Fee |
---|---|
Investors Exchange | FREE |
Service | Fee |
---|---|
10G Physical Port1 | FREE |
1G Physical Port2 | FREE |
Logical Port (except for order entry port) | FREE |
Order Entry Port3 | |
1-5 ports | FREE |
6 or more ports | $100 per port per month4 |
110G physical ports are available to connect to IEX’s production systems (i.e., the IEX POP and Disaster Recovery Data Centers) and the IEX Test Facility (“ITF”).
21G physical ports are the default connection to the ITF, but Members may also connect to the ITF through a 10G physical port.
3Fees for Logical Order Entry Ports are only applicable to such ports at the IEX POP: Secaucus (Hot/Primary) connectivity site. There are no fees for Logical Order Entry Ports at the Disaster Recovery (Cold/Secondary) or ITF: Secaucus (Non-Production).
4Fees for Logical Order Entry Ports are billed to and payable by the Member or Service Bureau maintaining the port based on the number of Logical Order Entry Ports assigned to each Member or Service Bureau as of the first of each month. These fees will be operative beginning October 1, 2019.
Definitions
Service | Fee |
---|---|
Internal Distribution Fee | FREE |
External Distribution Fee | FREE |
Usage Fee | FREE |
Base Fee Codes |
Description |
Executions at or above $1.00 |
Executions below $1.00 |
MI |
Add non-displayed liquidity | $0.0009 | 0.30% of TDV |
ML | Add displayed liquidity | FREE | 0.30% of TDV |
TI | Remove non-displayed liquidity | $0.0009 | 0.30% of TDV |
TL | Remove displayed liquidity | $0.0006 | 0.30% of TDV |
X | Opening Process for Non-Listed Securities (“Opening Process”) | $0.0009 | 0.30% of TDV |
O, C, H, P | Auction Match Fee | $0.0003 | 0.30% of TDV |
Alpha | Routing and removing liquidity (all routing options) | Cost + $0.0001 |
Additional Code Fees | Description | Fee |
---|---|---|
S | Internalization Fee: Member executes against resting liquidity added by such Member | See relevant Fee Code Combinations below |
D | Discounted Single-Price Cross Fee: displayed interest resting on the Continuous Book executes in a cross or auction | FREE |
R¹ | Retail Order Fee: Retail order removes liquidity | FREE |
A | Retail Liquidity Provider Order Fee: Member adds liquidity against a Retail order with a Retail Liquidity Provider order | FREE |
Fee Codes | Description | Fee |
---|---|---|
MI | Adds non-displayed liquidity | $0.0009 |
ML | Adds displayed liquidity | FREE |
TI | Removes non-displayed liquidity | $0.0009 |
TL | Removes displayed liquidity | $0.0006 |
MIS | Member adds resting non-displayed liquidity that executes against the Member’s removing interest | FREE |
MLS | Member adds resting displayed liquidity that executes against the Member’s removing interest | FREE |
TIS | Member removes resting non-displayed liquidity added by such Member | FREE |
TLS | Member removes resting displayed liquidity added by such Member | $0.0006 |
TIR¹ | Retail order removes non-displayed liquidity | FREE |
MIA | Retail Liquidity Provider order adds non-displayed liquidity that executes against a Retail order | FREE |
TLR¹ | Retail order removes displayed liquidity | FREE |
TISR¹ | Retail order removes non-displayed liquidity added by such Member | FREE |
MISA | Retail Liquidity Provider order adds non-displayed liquidity to a Retail order added by such Member | FREE |
TLSR¹ | Retail order removes displayed liquidity added by such Member | FREE |
X | Opening Process for Non-Listed Securities ("Opening Process") | $0.0009 |
XD | Displayed interest resting on the Continuous Book executes in the Opening Process | FREE |
O | Opening Auction, IEX-listed security | $0.0003 |
OD | Displayed interest resting on the Continuous Book executes in the Opening Auction | FREE |
C | Closing Auction, IEX-listed security | $0.0003 |
CD | Displayed interest resting on the Continuous Book executes in the Closing Auction | FREE |
H | Halt or Volatility Auction, IEX-listed security | $0.0003 |
P | IPO Auction, IEX-listed security | $0.0003 |
Footnotes:
¹Fee Code R: Fee Code R applies only to a Retail order submitted by an IEX Retail Member Organization that (i) satisfies the criteria set forth in IEX Rules 11.190(b)(15) and 11.232(a)(1) and (ii) is a Discretionary Peg order or Midpoint Peg order with a Time-in-Force of IOC or FOK.
The following fees will be collected and retained by FINRA via the CRD registration system for the registration of associated persons of IEX Members that are not also FINRA Members: