Search Results for keywords:"MPID fee"

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Search Results: keywords:"MPID fee"

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  • 2021-01836 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Monthly Fee Assessed on Members' MPIDs
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    Type:Notice
    Citation:86 FR 7440
    Reading Time:about 14 minutes

    The Cboe EDGX Exchange, Inc. proposed a new rule to implement a monthly fee for members using more than one Market Participant Identifier (MPID) starting after their first free MPID. The fee is set at $350 per additional MPID and aims to encourage efficient use of MPIDs by its members. This measure comes in a competitive trading market where participants can choose different platforms if they find fees too high. The Securities and Exchange Commission is reviewing this proposal and is accepting public comments.

    Simple Explanation

    The Cboe EDGX Exchange wants to charge a monthly fee of $350 if members use more than one special code (like a nickname) when trading, to make sure they use these codes wisely. The government is checking if this is a fair rule and asking people what they think.

  • 2021-01583 — Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Monthly Fee Assessed on Members' MPIDs
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    Type:Notice
    Citation:86 FR 7146
    Reading Time:about 15 minutes

    Cboe BYX Exchange, Inc. has proposed a new rule to introduce a monthly fee for members who use multiple Market Participant Identifiers (MPIDs). The fee of $150 per MPID, with the first MPID being free, is intended to encourage efficient use of MPIDs. The exchange believes this fee is reasonable and consistent with similar charges by other exchanges like Nasdaq, which imposes a higher MPID fee. The proposal is now open for public comments, and interested individuals can share their feedback with the Securities and Exchange Commission.

    Simple Explanation

    Cboe BYX Exchange wants to charge businesses a new fee each month if they use more special codes, called MPIDs, for trading, but they get one code for free. Some people worry this might be unfair because it might affect big and small businesses differently, and it's not very clear how it will change the way businesses trade.