LTSE Dangles Better Fees to Lure More Traders
Published Date: 8/18/2025
Notice
Summary
The Long-Term Stock Exchange (LTSE) is updating its Liquidity Incentive Program to encourage traders to add more buy and sell offers, making the market smoother and better for everyone. These changes started right away on August 11, 2025, and could affect how much fees traders pay or earn. If you trade on LTSE, keep an eye on these new rules to make the most of the updated incentives!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Lower quote threshold expands eligibility
If you are an LTSE Member quoting LIP Enhanced Securities, the Exchange lowered the Incentive #1 quoting requirement from 60% to 30% of the time at the NBBO. For the third quarter of 2025, July payments use the 60% July standard, while August and September 2025 use a combined 30% standard across those two months; LTSE will continue to share 80% of SIP Quote Revenue distributed proportionally at the end of each calendar quarter. The Exchange implemented these changes on August 11, 2025.
Other incentives remain unchanged
Incentives #2 and #3 of the LTSE Liquidity Incentive Program remain unchanged and in full force and effect as implemented on July 1, 2025. Only Incentive #1’s quoting threshold is amended.
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