CHX Announces Record Volume and Increased Provide Rebate.CHICAGO -- The Chicago Stock Exchange Chicago Stock Exchange (CHX) A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX. (CHX See Chicago Stock Exchange. CHX See Chicago Stock Exchange (CHX). ) today announced that October was a post Reg NMS See NetWare Management System. record month for both share and trade volume. CHX daily volume averaged 40.7 million shares, a 45% increase over September. In addition, trade volume surged more than 100% over August's record breaking levels. Capitalizing on this momentum, the CHX has instituted the most aggressive Tape B rebate plan in the industry. Dave Herron, CHX CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "We are gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that the street has recognized the attraction of our business model and is rewarding us with record volumes. We are building liquidity with a mix of natural retail, institutional and algorithmic customers meeting in an open, accessible platform that is not dependant on Adj. 1. dependant on - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, contingent upon, dependant upon, dependent on, dependent upon, depending on, contingent competing ECN's, or slowed by an order delivery process. This clean functionality enhances the speed and reliability of our trading engine. With added volume at the CHX, we are able to enhance our fee schedule to further reward those who provide liquidity on the exchange. In line with our goals of building for long-term success, we have chosen to establish a fee structure that can be sustainable over time, rather than a one-time offering." According to the new fee schedule, customers that provide more than 5 million average daily shares of Tape A and/or Tape C volume will receive a rebate of $0.36 per 100 shares on all Tape B provide activity. Below that tier, customers receive a Tape B rebate of $0.32 per 100 shares. These rebates apply to ALL Tape B securities. [TABLE OMITTED] About CHX CHX is an integral part of the National Market System offering competition to all U.S. equity markets. With a robust matching engine and its CHXConnect routing network, CHX customers can choose immediate display, execution or cancellation of orders and/or order-routing to FINRA FINRA Financial Industry Regulatory Authority (formerly Securities Industry Regulatory Authority) Market-Makers and CHX Institutional Brokers who are able to provide customized order handling solutions. Orders executed on the CHX enjoy the benefits of an exchange print with full exposure to all National Market System participants. |
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