MEMX Updates Trading Fees Starting July 2026
Published Date: 7/14/2026
Notice
Summary
MEMX is updating its fee schedule starting July 1, 2026. They’re removing an old rule, raising fees for certain retail orders under $1, and cutting out a specific liquidity removal fee. These changes mainly affect traders and members using the exchange, tweaking costs and rules to keep things fair and clear.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Higher Fee on Sub‑Dollar Retail Removes
The Exchange proposes to raise the reduced fee for executions of retail orders in securities priced below $1.00 that remove liquidity from 0.125% to 0.18% of the trade's total dollar value for Members who qualify for the Retail Sub‑Dollar Liquidity Removal Tier. To qualify for that tier a Member must have an ADAV in securities priced below $1.00 per share equal to or greater than 20,000,000 shares. The Exchange proposes to implement these changes on Junly 1, 2026.
Tape A Removal Tier Eliminated
The Exchange proposes to eliminate the Tape A Liquidity Removal Tier 1, which currently charges a discounted fee of $0.0029 per share for executions that remove liquidity in Tape A securities when a Member achieves a Tape A ADAV of at least 10,000,000 shares. After elimination, the discounted Tier 1 incentive would no longer be available to any Member. The Exchange proposes to implement this change on Junly 1, 2026.
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