26 November 2014


Justin Schack

Managing Director    

Akhil Bhatia


Andrew Upward

Vice President    

Anish Puaar


Rosenblatt Securities Inc.    
New York +1 212 607 3100    

Rosenblatt's Market Structure News Digest

Nasdaq OMX to Test Lower U.S. Stock Exchange Trading Fees
—Bloomberg News

Nasdaq OMX Group Inc. is planning to test the effects of lower trading fees on the world’s largest equity market. The experiment, which starts in February, covers charges paid by broker-dealers and market makers who operate on Nasdaq and will be limited to 14 stocks, according to a statement on the exchange’s website.

Our Take: Nasdaq is proposing a pilot program that would drastically reduce the fee members pay to remove liquidity from its order book in 14 stocks, to just 5 cents per 100 shares (or, in industry parlance, 5 “mils”)…

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