MEMX Updates Fee Schedule for Equities Trading Discounts
Published Date: 3/17/2026
Notice
Summary
MEMX is updating its fee schedule for members who trade stocks to make the rules clearer and adjust how certain discounts work. These changes kick in right away and could affect how much some traders pay or save when providing liquidity. If you’re a member of MEMX, keep an eye on these tweaks—they might impact your trading costs starting now!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Tier 2 Rebate Baseline and Expiry Updated
If you trade on MEMX and add displayed liquidity, the Exchange keeps the enhanced Liquidity Provision Tier 2 rebate of $0.0031 per share (base rebate is $0.0015 per share) but modifies alternative criterion (3). Under the revised criterion (3) a Member may qualify by having ADAV >= 0.10% of TCV and a Step-Up Add TCV from December 2025 >= 0.05%; the Exchange notes this criterion (3) will expire no later than June 30, 2026.
Step-Up Volume Calculations Clarified
If you are a MEMX Member, the Exchange changed several Step-Up definitions to replace the word "current" with "the prior month's" so qualifying volumes for tiers and rebates are determined from the prior month's quoting or trading activity. The Exchange also added a new defined term, "Step-Up Add TCV," that compares ADAV as a percentage of TCV in a baseline month to the prior month's ADAV as a percentage of TCV; these changes support MEMX's compliance with Regulation NMS Rule 610(d) (compliance date February 2, 2026).
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-13362 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing of Proposed Rule Amend the Redemptions Service Guide and the Operational Arrangements (Necessary for Securities To Become and Remain Eligible for DTC Services)
The Depository Trust Company (DTC) is updating its rules to make paying out money for matured or called securities easier and faster. Agents won’t need to send certain paper forms anymore and will get automatic updates, with most having to join this new process unless they opt out. These changes aim to save time and reduce paperwork, starting once approved, with no extra costs for participants.
2026-13358 — Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rules 15Ba1-1 to 15Ba1-8-Registration of Municipal Advisors and Forms MA, MA-I, MA-W, and MA-NR
The SEC is asking for comments to keep the rules and forms that municipal advisors use to register with the agency. This affects anyone giving financial advice to cities or towns about bonds and money matters. The goal is to extend the current paperwork requirements without adding new costs or deadlines, keeping everything running smoothly.
Previous / Next Documents
Previous: 2026-05129 — Self-Regulatory Organizations; NYSE Texas, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a Fee for Limited Underwriting Members
NYSE Texas is introducing a new $250 monthly fee for Limited Underwriting Members, starting retroactively from March 6, 2025. This change affects registered brokers or dealers who qualify under the new rule. The fee aims to keep things fair and help the Exchange cover costs while staying competitive.
Next: 2026-05132 — Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Sections 5 and 9B
Nasdaq PHLX is updating its options trading rules to add a small fee for certain market makers on the trading floor and give a rebate to floor brokers for those trades. These changes kick in on March 2, 2026, and affect traders handling penny and non-penny options. The goal? To keep trading fair and smooth while rewarding floor brokers for their role.