Market Maker Fees

BOX Market Makers pay a trade execution fee per contract. Any applicable licensing fees related to the trading of options on certain ETFs or Index classes will be passed through directly to the Market Maker.

In certain cases, BOX Market Makers are subject to lower trade execution fees than other BOX Participants.

Under the Take Credit/Make Charge pricing structure, Market Maker orders that add liquidity to the BOX Book will be charged a transaction fee per contract upon execution. This will be in addition to any applicable 'standard' fees and surcharges. Any order, including an order with a Fill-and-Kill designation, which executes against an order which is being exposed before being placed on the BOX Book, will be considered to add liquidity and charged a make fee.

Any Market Maker order, including an order with a Fill-and-Kill designation, which removes liquidity by trading immediately upon entry to the BOX Book or following its exposure as part of NBBO filtering will receive a removal credit. This will be in addition to any applicable 'standard' fees and surcharges.

For more information regarding Market Maker Trading Fees or Take Credits and Make Charges, please refer to our Fee Schedule.