The Opposite Sketches: The Pay-To-Make Exchanges
August 13, 2013 at 16:12 PM EDT
Last week, the maker-taker exchanges was touched upon: Nasdaq OM, NYSE Arca (formerly Pacific Stock Exchange) and BATS. These trading venues offer a significant rebate to liquidity providers (limit orders) and charge a taker fee to liquidity sources. For names like Bank of America (NYSE: BAC ), the rebate/fee