DirectEdge changes prices

Automated Trader Magazine

Jersey City - 16.38GMT, 29 April 2008: Effective 1 May 2008, DirectEdge is making three primary changes that will affect rebates and fees on the EDGX platform and routing fees generally.

Jersey City - 16.38GMT, 29 April 2008: Effective 1 May 2008, DirectEdge is making three primary changes that will affect rebates and fees on the EDGX platform and routing fees generally. These are:

Standardizing base fees and rebates on EDGX to a rebate of $.0025 per share and an access fee of $.0026 per share;

“Going inverted” by creating a tier where customers who add a combined total of 40 million shares per day on our platforms will receive a rebate of $.0029 per share on EDGX;

Raising the standard routing rate on EDGX and EDGA to $.0029 per share. [Note: cost-based routing to the NYSE and NYSEArca in Tape C stocks will continue unchanged.].

DirectEdge CEO William O'Brien told our correspondent: "Rebates do matter, but a good trading experience takes several factors into account, including fill rates and fill priority. Give liquidity providers a profitable place to trade, and they will be there." More from www.directedge.com

Latest: Direct Edge ECN data is now available on Bloomberg's Market Maker Activity page, which can be found at MKAC on the BLOOMBERG PROFESSIONAL® service.