Nasdaq® has approved a proposal to implement a volume-based discount pilot for Aces
Pass-ThruSM. The six-month pilot began on March 1, 2000, and will run through
August 31, 2000.
Pilot Pricing Structure
$1.00 per order for the first 50,000 orders executed per month
$0.70 per order for the next 50,000 orders executed that same month
$0.20 per order for all remaining orders executed that same month
Aces Pass-Thru is an automated order-routing system that offers Market Makers the ability to attract order flow from order-entry firms with which they have an established relationship. Since 1998, Aces Pass-Thru has operated as a mechanism through which orders are routed on a "pass through" basis for execution by the receiving market-making firm.
If you have questions regarding this pilot, please call Bill Broka at (202) 728-8050.