Non-Display Fees

[stochastix]

https://www.sec.gov/rules/sro/nms/2017/34-82071.pdf

This memo clarifies that non-professionals dont have to pay the fee, and what is and isnt a "professional". So, if you dont work for a firm or trade other people's money then you dont owe the fee even if you never trade manually and only do algo trading.

 

[terr]

That's great news. The interpretation we saw in this thread was obviously absurd, in that it would charge a non-professional ridiculous fees for use of data in any analytical manner.

This was published in 2017. Which means all this time non-display fees were really a non-factor.