Stock Exchange Dangles Bigger Rebates to Woo New Players
Published Date: 2/18/2026
Notice
Summary
Starting February 1, 2026, the Long-Term Stock Exchange (LTSE) is giving new members a temporary boost with bigger Co-Lead Incentive rebates. This means brokers and dealers who join LTSE and qualify as co-leads will get extra money back for a limited time. It’s a smart move to attract fresh players and keep the trading action lively!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
One‑Time $0.0057/Share Enhanced Rebate
Starting February 1, 2026, a Member that newly qualifies for the LTSE Co-Lead Incentive will receive a one-time enhanced rebate of $0.0057 per share on executions of securities priced at or above $1 (excluding LIP Enhanced Securities) during the calendar month immediately following the Qualification Month. That enhanced rebate is limited to the number of qualifying shares the Member executed during the Qualification Month; any qualifying executions in excess of that amount in the following month receive the standard $0.0040 per-share rebate. No single Member can receive the enhanced rebate more than once.
Monthly Look‑Back and Qualification Timing
The Exchange will use a one-month look-back: a Member's eligibility is based on activity during a calendar "Qualification Month," and any applicable Co-Lead rebates are applied to that Member's executions during the following calendar month. The filing also states the Exchange is reducing the Co-Lead quoting obligation to encourage broader participation, and these timing and quoting changes are implemented to comply with fee-transparency rules as of February 1, 2026.
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