MEMX Tweaks Trader Fees: Yawn, Just Another Pricing Update
Published Date: 4/13/2026
Notice
Summary
MEMX is updating its fee schedule to change how traders qualify for a special discount tier and is adding a new discount for small retail trades. These changes affect members who trade stocks on MEMX and take effect immediately, potentially saving money for certain traders. If you’re a trader or member, keep an eye on these new pricing rules starting now!
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Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Tier 4 Qualification Changed
If you are a MEMX Member that seeks the Liquidity Provision Tier 4 rebate, the ADAV threshold used to qualify is changing from 0.09% of TCV to 0.10% of TCV, and Retail Orders will now be included when calculating ADAV. The enhanced rebate under Tier 4 remains $0.0028 per share for Added Displayed Volume in securities priced at or above $1.00 per share. These changes are effective immediately after the March 31, 2026 filing.
New Sub-Dollar Retail Fee Cut
MEMX will offer a new Retail Sub-Dollar Liquidity Removal Tier where Members that achieve an ADAV of 20,000,000 shares in securities priced below $1.00 qualify to pay a reduced fee of 0.125% of the total dollar value for Removed Sub-Dollar Retail Volume. The standard fee for removed sub-dollar executions is currently 0.28% of the transaction value; the new tiered fee is effective immediately following the March 31, 2026 filing.
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