THE FLIPPENING - MEMX equity market share passed IEX for the first time in mid April. If the trend holds, MEMX will fully surpass IEX in size by the end of this month. Can we get a MEMX Flash Boys sequel now?pic.twitter.com/Ub5E1rxxHI
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Really makes you wonder. Why count volume in terms of shares?!
It all depends on pricing from the exchange's perspective - some charge a % of notional, others a flat fee per contract/share traded. To your point though, most equity exchanges charge % of notional