Federal Register #SR-IEX-2026-40

SEC notice of proposed IEX Incremental Fee Tier 2 threshold change

This Securities and Exchange Commission notice concerns a proposed fee-schedule change by Investors Exchange LLC (IEX), not a procurement opportunity. - Government agency: Securities and Exchange Commission (SEC); no procuring sub-agency or office is identified. - Filer: Investors Exchange LLC (IEX). No product manufacturers, resellers, or procurement vendors are identified. - Proposed change: Increase the Incremental Fee Tier 2 volume threshold for qualifying executions of non-displayed orders from 15,000,000 to 20,000,000 Incremental Fee eligible average daily volume. - Exception: The higher threshold would not apply to Members that qualified for either of IEX’s two highest displayed liquidity-adding rebate tiers in the prior month. - Other updates: Revise fee-schedule examples and remove an outdated use of “proposed” in the description of Option 2. - The notice invites public comments. No products or services are requested.

Description

Investors Exchange LLC proposes to amend its fee schedule to modify the criteria for Members to qualify for the reduced Incremental Fee Tier 2, which applies to certain executions of non-displayed orders. The proposal increases the required volume threshold by 5,000,000, from 15,000,000 to 20,000,000 Incremental Fee eligible ADV, unless the Member qualified for one of the Exchange’s two highest displayed liquidity adding rebate tiers in the prior month. The rule change became effective upon filing and is scheduled to be implemented on November 1, 2026. The filing also updates fee-schedule examples and removes the word “proposed” from the description of Option 2.

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