No more bullying of small market makers

Euronext raised fees for small market makers. After three weeks in business, the decision is cancelled again.

The preferential class fee scheme for market makers has been removed from the price list as of December 1st, and the fees for market makers without liquidity provider roles doubled. Apart from not understanding the economic need to bully the small ones, raising fees at the start of a price competition with TOM is an interesting tactical move, a clear example of out-of-the-box thinking. At least I don’t get it.

Also at Euronext, the management can’t remember the rationale for doubling the fees for small market makers. Starting January 1st, the preferential class is back on the table again and the small traders can resume trading like nothing happend, against the old fee schedule. The notice states the fees will be raised again as of July 1st 2012. That’s not going to happen.

The official notice can be found here. Also fixed are some fee trouble with daily and weekly options.