Federal Register #SR-IEX-2026-44

IEX proposes an alternative qualification criterion for its Tier 8 displayed-liquidity rebate

The Securities and Exchange Commission (SEC) notice concerns a proposed Investors Exchange LLC (IEX) change to its displayed-liquidity rebate rules. - Government agency: Securities and Exchange Commission. - Filing entity: Investors Exchange LLC (IEX), which proposes an alternative way for Members to qualify for Displayed Liquidity Adding Rebate Tier 8. - Proposed qualification: At least 35,000,000 average daily volume (ADV) of displayed liquidity, including at least 25,000,000 ADV in non-ETP securities. - Rebate: Eligible executions priced at or above $1.00 per share would continue to receive $0.0022 per share. - Scope: IEX is not proposing changes to rebate amounts or the overall tiering structure. This is a securities-market rule change, not a procurement opportunity; no products or services are requested.

Description

Investors Exchange LLC proposes to amend its equities fee schedule by adding an alternative qualification criterion for Displayed Liquidity Adding Rebate Tier 8. Members would qualify by adding at least 35,000,000 ADV of displayed liquidity, including at least 25,000,000 ADV in non-ETP securities. The rebate remains $0.0022 per share for eligible displayed-liquidity executions priced at or above $1.00 per share; no rebate amounts or overall tier structure are otherwise changing. The filing is effective upon filing and scheduled to be operative December 1, 2026.

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