MEMX Hikes Trading Fees Starting This July
Published Date: 7/16/2025
Notice
Summary
MEMX is changing its fees starting July 1, 2025. If you trade retail orders priced $1 or more, you'll pay a bit more when taking liquidity. Plus, the rebates for liquidity providers are getting smaller and the rules to earn them are changing. These updates affect traders and members using MEMX and aim to keep the exchange fair and balanced.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Higher fee for retail takers
If you submit retail orders that remove liquidity on MEMX in securities priced $1.00 or more, the per-share fee rises from $0.0028 to $0.0030 starting July 1, 2025. This change applies to executions labeled as Removed Retail Volume on MEMX.
Tier 2 rebate cut and criteria change
MEMX reduces the Liquidity Provision Tier 2 rebate from $0.0032 to $0.0031 per share and changes the second qualification alternative. A Member may now qualify either by (1) ADAV ≥ 0.20% of TCV and ADV ≥ 0.50% of TCV, or (2) ADAV ≥ 0.20% of TCV in securities priced ≥ $1.00 and Non-Displayed ADAV ≥ 6,000,000 shares.
Rebates for Tiers 3–5 trimmed
MEMX reduces the enhanced rebates for Liquidity Provision Tier 3 from $0.0030 to $0.0029, Tier 4 from $0.0029 to $0.0028, and Tier 5 from $0.0025 to $0.0024 per share, effective July 1, 2025. The qualification criteria for Tiers 3, 4, and 5 remain unchanged.
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