FastMatch is making a number of changes to its fee schedule, effective February 1, 2017.
In a note to clients, the ECN outlines the major changes to its currency fee schedule, including extending its offer of free trading for clients that add liquidity on FastMatch’s central limit order book and are willing to trade with everyone on the platform.
FastMatch is also changing the threshold required for its clients to achieve the $2.50 per million pricing tier. Under the current free structure “clients trading more than ADV USD 1 billion or equivalent notional per billing month or 10% of single counted volume of the platform (whichever is less)”, are charged $2.50 per million.
But starting from February clients that trade between 5-10% of the platform’s ADV per month across all products will get the $2.50 per million rate. FastMatch has also introduced a new $2.00 per million price tier for firms that trade between 10-15% of the ADV on the platform. The discounts for these tiers are applied on the incremented volume after each tier is achieved.
Fastmatch is also introducing its algorithmic execution at a 0.001% markup and its MidMatch product at $1 per million in notional.