PSX to scrap add-displayed-liquidity rebate from November 2
Nasdaq has told PSX participants it will discontinue the rebate paid to add displayed liquidity, effective Monday, November 2, 2026, subject to a pending SEC filing. The change removes a per-share credit that ranged across volume tiers tied to consolidated volume. This matters to any firm whose PSX order-routing economics depend on displayed-liquidity rebates.
- Nasdaq PSX will discontinue its Rebate to Add Displayed Liquidity effective Monday, November 2, 2026, pending a filing with the SEC.
- The discontinued credits ran at $0.0033, $0.0032 and $0.0030 per share executed across TCV tiers of 0.15%, 0.07% and 0.05% respectively, under liquidity codes A, V or u.
- An additional $0.00005 per share rebate tied to adding 0.10% or more of TCV in both the prior and current month is also being discontinued.
- The change was announced in Equity Trader Alert #2026-63, dated October 30, 2026.