SEC Rule 610 • Liquidity Protocol

Optimize Every Cent in Maker-Taker Routing

Simulate net routing P&L, exchange tier rebates, and adverse selection across Nasdaq, NYSE, and Cboe inverted venues, or access our high-yield promotional partner gateway.

Max Access Fee $0.0030 SEC Rule 610 Cap
Top Tier Maker Rebate +$0.0032 Per Share Added
Inverted Venue Payout +$0.0016 Taker Rebates
PFOF Price Drag -0.42 bps Retail Spread Loss

The Mathematics of SEC Rule 610

Under Regulation NMS Rule 610, national securities exchanges cap access fees at $0.0030 per share for equities priced at or above $1.00. Proprietary trading desks leverage maker-taker pricing schedules to earn liquidity rebates on passive resting limit orders, offsetting trading costs and capturing structural market spread.