Maker-Taker Fees and Rebates Explained
Where one liquid name's shares printed, by venue (Jul 15, 2026)ranking ·
2026-08-09 · 12×3
Registered US stock exchanges and their participant codestable ·
2026-08-09 · 18×5
One hour of NBBO spreads, measured in mils (Jul 15, 2026)ranking ·
2026-08-09 · 4×3
A 30 mil per share fee as basis points of notional, by price band (Jul 15, 2026)ranking ·
2026-08-09 · 6×3
Where one liquid name's shares printed, by venue (Jul 15, 2026)
Where one liquid name's shares printed, by venue (Jul 15, 2026)
| venue | pct_of_shares | avg_trade_size |
|---|---|---|
| Nasdaq | 37.15 | 149 |
| FINRA Alternative Display Facility | 31.55 | 45 |
| NYSE Arca, Inc. | 17.32 | 124 |
| Cboe BZX | 3.23 | 54 |
| NYSE Texas, Inc. | 2.74 | 875 |
| Cboe EDGX | 2.61 | 56 |
| Investors Exchange | 2.16 | 52 |
| Members Exchange | 1.4 | 43 |
| New York Stock Exchange | 0.87 | 47 |
| Cboe EDGA | 0.28 | 27 |
| Cboe BYX | 0.17 | 40 |
| MIAX Pearl | 0.14 | 49 |
the exact SQL behind every number
WITH
by_venue AS
(
SELECT
toInt32(exchange) AS venue_code,
sum(size) AS shares,
count() AS prints
FROM global_markets.stocks_trades
WHERE ticker = 'AAPL'
AND sip_timestamp >= '2026-07-15 04:00:00'
AND sip_timestamp < '2026-07-16 04:00:00'
GROUP BY venue_code
),
venue_names AS
(
SELECT
toInt32(id) AS venue_code,
any(name) AS venue_name
FROM global_markets.stocks_exchanges
WHERE asset_class = 'stocks'
GROUP BY venue_code
)
SELECT
if(empty(n.venue_name), concat('Participant ', toString(v.venue_code)), n.venue_name) AS venue,
round(100 * v.shares / sum(v.shares) OVER (), 2) AS pct_of_shares,
toUInt32(round(v.shares / v.prints)) AS avg_trade_size
FROM by_venue AS v
LEFT JOIN venue_names AS n USING (venue_code)
ORDER BY v.shares DESC
LIMIT 12
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