Fees are applied to participants based upon the following 4 categories.
|Direct Individual or Firm||A Direct Individual or Firm is a non-professional person or firm who signs up directly with ErisX.|
|Executing Broker / Guaranteed Direct Member||An Executing Broker is a firm processing orders with clients where the firm is trading as principal. A Guaranteed Direct Member is a member whose trading activity is guaranteed by another member.|
|Professional Trading Firm||A Professional Trading Firm is an entity that certifies they have substantial trading and exchange connectivity management experience.|
|Market Maker||A Market Maker is a Professional Trading Firm that has entered into market making agreement with ErisX and meets specific metrics on a monthly basis.|
* All categories of users are required to enter into user agreements with ErisX and are required to accept certain risks and disclosures. ErisX reserves the right to modify the content of this Rate Card.
Participants pay fees on each transaction executed on the exchange based upon the rates below for each category. These fees are charged in basis points (bps) of notional amount in USD or BTC. Fees and incentives are effective from April 1st, 2019.
|Direct Individual or Firm|
|Executing Broker / Guaranteed Direct Member|
|Professional Trading Firm|
|Market Maker (P**/A***)|
* Fees waived through May 2020
** Market Makers are eligible for rebates on PASSIVE order flow.
*** All Market Makers are charged AGGRESSOR rate at time of trade.
All participants will be charged a rate of 10 bps for Block trades. Please reference our Block Policy HERE
All participants are eligible for a basis points (bps) rebate based upon notional volume traded for a calendar month with rebates paid the following month.
|Monthly Notional Volume||
|$ 3,000,000 USD|
|$ 8,000,000 USD|
|$ 20,000,000 USD|