All books

Professional

Apps About Coach Log in Start reading

Quantitative Finance · Glossary

What is Access fee cap?

Definition 9.2 Markets I: The Ecosystem and Exchange-Traded Markets · Chapter 9 — US Equity Market Structure

The access fee cap (Rule 610(c)) limits what a venue may charge for executing against its protected quotation: $0.003 a share (“30 mils”) for stocks priced at a dollar or more. Without it a venue could display an attractive price that the protection rule forces others to route to, and charge whatever it liked for reaching it.

Read in context →