LTSE Rolls Out Fee Discounts to Lure New Exchange Members
Published Date: 5/8/2026
Notice
Summary
The Long-Term Stock Exchange (LTSE) is rolling out the Membership Launchpad Program to give new members a sweet deal: discounted fees on membership, connectivity, and market data for up to a year. This change kicked in on April 9, 2026, making it easier and cheaper for fresh members to join and grow with LTSE. If you’re thinking about joining, now’s the perfect time to jump in and save some cash!
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
12‑Month Membership Fee Discounts
If you become a new LTSE Member, the Exchange discounts the $10,000 annual Membership Fee ($833.33/month) for up to 12 months: 100% off in Phase 1 (months 1–6) and 50% off in Phase 2 (months 7–12). Discounts begin in the first full month after a membership is approved (month 1); the initial onboarding month (Month 0) is not newly waived by this filing.
Market Data Fee Waiver and Cut
New Members can get 100% discounts on LTSE market data fees for months 1–6 and 50% discounts for months 7–12. Current list prices are $2,500 per data recipient/month for the Depth of Book Feed, $500 per data recipient/month for the Top of Book Feed, and $0/month for the Last Sale Feed; firms that subscribed to any LTSE Market Data Feeds in the six months before membership approval are ineligible for the market data discounts.
Logical Connectivity Port Fee Discounts
New Members receive discounts on Logical Connectivity (port) fees for up to 12 months: 100% off in months 1–6 and 50% off in months 7–12. LTSE's standard port fee is $450 per port per month; the Exchange already waives fees for three sessions per month per market participant, and Cross-Connect Fees are not eligible for the Program.
Program Eligibility Limits and One‑Time Enrollment
Only firms that are approved as new LTSE Members are eligible, and a new Member may not have been approved as an LTSE Member within the prior 6 months. A new Member is eligible for the Program only once; affiliates of existing Members are ineligible (affiliate is proposed to be defined as "any Member under 75% common ownership or control of that Member"). Also, firms that subscribed to LTSE Market Data Feeds in the six months before approval are ineligible for the market data fee discounts.
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