MEMX Slashes Fees for Small Trades: Retail Investors Get a Break
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 tier for small retail trades. These changes affect members who trade stocks on MEMX and take effect immediately, potentially saving some traders money right away. If you’re a trader on MEMX, keep an eye on these new pricing rules to make the most of your trades!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
New Sub-Dollar Retail Removal Discount
MEMX will charge a reduced fee of 0.125% of the total dollar value for executions that remove liquidity where the trade is a Retail Order in securities priced below $1.00 per share, for Members that achieve an ADAV in sub-dollar securities of at least 20,000,000 shares. The prior standard fee for removed sub-dollar volume was 0.28% of the total dollar value; the new tier applies immediately once the Member qualifies.
Tier 4 Qualification Criteria Change
If you are a MEMX Member seeking the Liquidity Provision Tier 4 rebate, the ADAV qualification changes from 0.09% of TCV to 0.10% of TCV and Retail Orders will now be included in the ADAV calculation. The enhanced Tier 4 rebate remains $0.0028 per share for executions of added displayed liquidity in securities priced at or above $1.00 per share, and these changes take effect immediately.
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Key Dates
Department and Agencies
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