Stock Exchange Tweaks Fees for Penny Stock Trading Drama
Published Date: 1/16/2025
Notice
Summary
IEX is changing how it charges fees for certain small stock trades priced under $1. Instead of a tiny per-share fee, they'll now charge a small percentage of the total trade value plus the cost from the other exchange. This new fee kicks in starting January 1, 2025, and affects members who route these sub-dollar orders to other exchanges.
No Economic Impacts Identified for this Document
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Previous / Next Documents
Previous: 2025-00889, Self-Regulatory Organizations; Long-Term Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the LTSE Fee Schedule
The Long-Term Stock Exchange is changing its fees and rebates for stocks priced under $1 that trade on its platform. These updates started on December 12, 2024, and affect traders dealing with these low-priced stocks. The SEC is now asking for public feedback but the new fees are already in action!
Next: 2025-00891, Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Fee Schedule To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for 2025
MIAX Sapphire is updating its fee schedule to charge industry members a tiny fee of $0.000022 per share traded to cover the 2025 costs of the Consolidated Audit Trail (CAT), a system that tracks stock trades. This change starts right away and affects brokers and traders using the exchange. It helps keep the CAT system running smoothly and fairly by sharing costs among users.