(July 10 – 17:45 ET) – The TSE is announcing a trading fee reduction to encourage liquidity in the TSE book.
The revised fees have been introduced, effective June 1. Originally the TSE announced a fee formula of 1/50 of 1% of the value of the trade, to a cap of $80. That has been reduced to 1/55 of 1%, to a cap of $80.
For trades matched on the TSE only the tradable orders will be charged the trading fees, whereas book orders, referred to as Liquidity Providers, will not be charged a fee. Tradable orders include market orders, tradable CFOs, adjusted short sales, stop orders, and tradable limit orders.
For crosses on the TSE the allocation of the fee remains unchanged, with each side of the trade paying half the fee. Trades in the oddlot and special terms market will have the same fee structure as the boardlot market. Trades in the last sale trading session will be treated the same as trades in the opening session.
According to the TSE, these changes are reflected in the Equity Transaction Fees report that accompanies the trading invoice each month. The report reflects the new calculated dollar amount of the transaction fees, the allocation of fees, and adds a “Liquidity Provider Savings” column to illustrate the fees saved by putting orders into the book.
-IE Staff