Dear Manager,
NEO Exchange has introduced a new dark venue (NEO-D) to further expand dark functionality features through a combination of NEO’s unique matching priorities, simple order types, and greater certainty around the type of flow to be interacted with.
Just a few of the many advantages of trading on NEO-D:
- This is a new release—DTTW™ went live with it just last week on November 1
- There are many, many opportunities for fills on active names where the spread is greater than 1 penny
- All trading happens at the midpoint of the NBBO
- Traders can take advantage of the fee structure—free or rebate for aggressive (remove liquidity) order types
You can send orders to NEO-D by selecting the destination Aequitas NEO-D in PPro8.
Highlights
| Active (IOC) | Passive (Midpoint) | |
| Order Type | Limit, Market, Midpoint | Midpoint |
| Matching Priorities | Price – Broker Preference – Neo Trader – Size/Time | |
| Matching | Immediate upon entry (between 9:30 AM and 4:00 PM) | Immediate upon entry, or after each NBBO recalculation (between 9:30 AM and 4:00 PM) |
| Order Submission | 9:30 AM to 4:00 PM | 8:00 AM to 4:00 PM |
Fees
Effective Wednesday, September 1, 2021, the NEO Exchange changed their fees, as follows:
| Gateway | Liquidity Flags | Description | Current Fee | New Fee |
| AEQN | N/A | Aequitas Lit book Opening and Closing Call trades | 0.0005 | 0.001 |
| AEQN | N or 1 | Add liquidity on Aequitas Lit book - ETF | -0.001 | -0.0012 |
| AEQN | Y or 2 | Remove liquidity on Aequitas Lit book - ETF | 0.0014 | 0.0016 |
| AEQN | N or 1 | Add liquidity on Aequitas Neo book - ETF | 0.0023 | 0.0014 |
| AEQN | Y or 2 | Remove liquidity on Aequitas Neo book - ETF | -0.002 | -0.0011 |
| AEQN | N or 1 | Add liquidity on Aequitas Neo book - Sub Dollar | 0.0005 | 0.0007 |
| AEQN | Y or 2 | Remove liquidity on Aequitas Neo - Sub Dollar | -0.0003 | -0.0005 |
NEO-D creates a truly differentiated dark marketplace that offers options for all types of traders while continuing to provide an enhanced trading experience for natural investors.
For more information about this new venue, you can read the official NEO-D document.
Remember to read the NEO posts on TIP to find the best opportunities.
If you have any questions or comments, you can create a mojo.
