Member Categories

Fees are applied to participants based upon the following 4 categories.

Category* Description
Direct Individual or Firm A Direct Individual or Firm is a non-professional person or firm who signs up directly with ErisX.
Intermediary An Intermediary is a firm processing orders with clients where the firm is either trading as principal or routing client orders to ErisX.
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 a market making agreement with ErisX and meets specific metrics on a monthly basis.

* All categories of members are required to enter into agreements with ErisX and are required to accept certain risks and disclosures. ErisX reserves the right to modify the content of this Rate Card.

Exchange and Clearing Fees

Members 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 August 1st, 2020.

Spot Fees
Member Category
Maker Rebate
Maker
Taker
Direct Individual or Firm
-1 bps
10 bps
20 bps
Intermediary
-1 bps
5 bps
10 bps
Professional Trading Firm
-1 bps
3 bps
7 bps
Market Maker
-2 bps
0 bps
3 bps

Rebate, Maker, Taker:

Maker Rebate

A rebate paid for an order that is added to the order book and filled within a defined period of time, the Rebate Time.

Maker

A fee for an order that is added to the order book but does not match within the Rebate Time.

Taker

An order that upon entry immediately matches with the current orders resting in the order book.

Direct Member Path to Pro Category

In order to provide active Direct Members a path to be included in the Professional fee category we defined the following metrics which if met would move a member to that fee status.

  • Trading activity greater than 100 trades or $100,000 notional in a calendar month.

Spot Market Maker Metrics

  • Market Makers must maintain a minimum quote time in any spot contract of greater than 30% average per day in a calendar month.
  • Market Makers who are below this average across 2 consecutive months will be moved to the Professional Trading Firm fee profile.

Block Trading Fees

All participants will be charged a rate of 10 bps for Block trades. Please reference our Block Policy HERE