This is super interesting - 1) MEMX changes their fee schedule on 12/1 2) Volume EXPLODES past 3% market share 3) MEMX changes their fees again on 12/4 4) Volume comes back down The small tweaks make all the difference...pic.twitter.com/QiKMLaaWhL
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Nice illustration confirming what we already know - broker algos are highly sensitive to fees.
Agreed. It's interesting too how exchanges have to balance pure volume with fees - MEMX didn't just let the first structure run wild in theory because it wants more volume *at the right price*