TXSE reduces transaction fee for liquidity-removing orders to $0.0029 per share
The fee change applies to all TXSE members executing orders that remove displayed liquidity in securities priced $1.00 or higher, effective Oct. 1, 2026.
On October 8, 2026, the Securities and Exchange Commission published a notice that Texas Stock Exchange LLC (TXSE) filed a proposed rule change on October 1, 2026 (Release No. 34-106639; File No. SR-TXSE-2026-035; FR Doc No. 2026-20923). The filing seeks immediate effectiveness of an amendment to the TXSE Fee Schedule.
The amendment would lower the transaction fee for executions of orders that (i) are displayed on the TXSE Book and (ii) remove liquidity, when the underlying security is priced at or above $1.00 per share. The current fee of $0.0030 per share would be reduced to $0.0029 per share. The change is slated to take effect on October 1, 2026, concurrent with TXSE's commencement of operations as a national securities exchange.
TXSE states the purpose of the reduction is to encourage members to increase liquidity-removing orders, thereby enhancing interactions with displayed liquidity and improving market depth and price discovery. The exchange notes that the proposed fee aligns with rates charged by other venues for comparable transactions.
The exchange cites Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 as the statutory basis, and asserts that the fee adjustment complies with Sections 6(b)(4) and 6(b)(5) of the Act, which require equitable allocation of fees and promotion of a free and open market. TXSE argues the fee is non-discriminatory and consistent with the Commission's preference for competition over regulatory intervention.
The Commission is soliciting comments from interested persons on the proposed rule change, as required by the Act.
Further reading