I think you misunderstood Don's post. He said that Bright does relatively little Nasdaq trading, and therefore does not have the volume to earn the 'extra' rebates that you refer to. They pass along the regular 0.2 cps rebate that everyone else does, as I understood it.
Its not 30 mm shares a month....its avg of 30mm shares a day. So if you are with a firm that does 600mm nasdaq shares a day... then you would be entitled to it. Not many prop firms are getting the rebate, unless they have some sort of algorithmic trading system for CSCO INTC MSFT etc.,. Banker Rebate for Adding Liquidity Average Daily Shares of Liquidity Added Rebate for Adding Liquidity (Per Share Executed) Greater than 30 million $0.0025 Less than or equal to 30 million $0.0020
Over the years the NYSE was easier to taperead, single place market vs. fragmented market, multiple MM's who didn't have to follow the same rules that we do/did. No price improvement, no opening only orders, no MOC's, etc. Things are changing however, and we'll see how the hybrid NYSE rolls out. We're doing a lot more now, actually, due to our enormous number of pairs traders. With the more quantitative strategies, it's fine to pair up with a nasdaq stock. Don