Effective July 25, 2023.
New underlined text and deletions in brackets (and highlighted) will be operative on September 1, 2023
Membership Fees
Membership
Fee
Registration
FREE
Fee Schedule
Market Data Fees
Definitions
- “Real-Time” means BlockwayFi market data that is accessed, used, or distributed less than fifteen (15) milliseconds after it was made available by the Exchange. BlockwayFi provides only Real-Time BlockwayFi market data to Data Subscribers. A Data Subscriber may redistribute Real-Time BlockwayFi market data that it receives from the Exchange on a Real-Time basis to a natural person or entity. Receipt of BlockwayFi market data on a Real-Time basis by an affiliate of a Data Subscriber is not subject to additional Fees beyond those paid by such Data Subscriber.1
- “Delayed” means BlockwayFi market data that is accessed, used, or distributed at least fifteen (15) milliseconds after it was made available by the Exchange. A Data Subscriber may redistribute Real-Time BlockwayFi market data that it receives from the Exchange on a Delayed basis to a natural person or entity. In addition, a recipient of Delayed BlockwayFi market data may further redistribute such Delayed BlockwayFi market data to a natural person or entity.
- “Data Subscriber” means any natural person or entity that receives Real-Time BlockwayFi market data either directly from the Exchange or from another non-affiliated Data Subscriber. A Data Subscriber must enter into a Data Subscriber Agreement with BlockwayFi in order to receive Real-Time BlockwayFi market data. A natural person or entity that receives Real-Time BlockwayFi market data from an affiliated Data Subscriber is subject to the Data Subscriber Agreement of such affiliated Data Subscriber.
Fee Schedule
Transaction Fees
- All fees identify cost or rebate per share executed unless otherwise specified. Rebates are indicated by parentheses ().
- Footnotes provide further explanatory text or indicate variable rate changes, provided the conditions in the footnote are met.
- The rates listed in the Base Rates table apply unless a User’s transaction is assigned a Fee Code other than a Base Fee Code (an "Additional Fee Code"). If a User’s transaction is assigned an Additional Fee Code, the rates listed in the Fee Code Combinations and Associated Fees table will apply.
- The Exchange passes-through in full any fees charged by/rebates received from away venues ("Cost") to the Member and adds the BlockwayFi fee (i.e., a $0.0001 charge per share).
Definitions
- "Fee Code" is identified on each execution report message from the Exchange in the Trade Liquidity Indicator field.
- "MPID" means a market participant identifier.
- "TDV" means the total dollar value of the execution calculated as the execution price multiplied by the number of shares executed in the transaction.
Service
Fee
Executions at or above $1.00
Executions below $1.00
MI
Add non-displayed liquidity
$0.0010
0.10% of TDV
ML
Add displayed liquidity
[FREE] ($0.0004)
FREE
TI
Remove non-displayed liquidity
$0.0010
0.10% of TDV
TL
Remove displayed liquidity
[$0.0009] $0.0010
0.09% of TDV
X
Opening Process for Non-Listed Securities ("Opening Process")
$0.0010
0.10% 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
Fee Code Modifiers:
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
Liquidity Provider Order Fee: Member adds liquidity against an order with a Liquidity Provider order
FREE
Fee Code Combinations and Associated Fees:
Fee Codes
Description
Executions at or above $1.00
Executions below $1.00
MI
Adds non-displayed liquidity
$0.0010
0.10% of TDV
ML
Adds displayed liquidity
[FREE] ($0.0004)
FREE
TI
Removes non-displayed liquidity
$0.0010
0.10% of TDV
TL
Removes displayed liquidity
[$0.0009] $0.0010
0.09% of TDV
MIS
Member adds resting non-displayed liquidity that executes against the User’s removing interest
FREE
FREE
MLS
Member adds resting displayed liquidity that executes against the User’s removing interest
[FREE] ($0.0004)
FREE
TIS
Member removes resting non-displayed liquidity added by such Member
FREE
FREE
TLS
Member removes resting displayed liquidity added by such Member
[$0.0009] $0.0010
0.09% of TDV
TIR¹
Retail order removes non-displayed liquidity
FREE
FREE
MIA
Liquidity Provider order adds non-displayed liquidity that executes against an order
FREE
FREE
TLR¹
Retail order removes displayed liquidity
FREE
FREE
TISR¹
Retail order removes non-displayed liquidity added by such Member
FREE
FREE
MISA
Liquidity Provider order adds non-displayed liquidity to an order added by such Member
FREE
FREE
TLSR¹
Retail order removes displayed liquidity added by such Member
FREE
FREE
X
Opening Process for Non-Listed Securities ("Opening Process")
$0.0010
0.10% of TDV
XD
Displayed interest resting on the Continuous Book executes in the Opening Process
FREE
FREE
O
Opening Auction, BlockwayFi-listed security
$0.0003
0.30% of TDV
OD
Displayed interest resting on the Continuous Book executes in the Opening Auction
FREE
FREE
C
Closing Auction, BlockwayFi-listed security
$0.0003
0.30% of TDV
CD
Displayed interest resting on the Continuous Book executes in the Closing Auction
FREE
FREE
H
Halt or Volatility Auction, BlockwayFi-listed security
$0.0003
0.30% of TDV
P
IPO Auction, BlockwayFi-listed security
$0.0003
0.30% of TDV