Market Making & Liquidity Provision

Liquid and well-functioning secondary markets allow investors to buy and sell their assets quickly and efficiently.

The Cboe Investment Product Market Maker Fee Programme provides concessional Cboe fee treatment for eligible market makers, registered with Cboe and meeting liquidity requirements in eligible symbols. Market makers play a crucial role in providing liquidity, particularly for investment products, by providing quotes throughout the trading day priced at or close to fair value.

Registration in the Cboe Investment Product Market Maker Fee Programme does not create an expectation that market makers will provide liquidity that meets the requirements. However, where market makers registered in the Fee Programme do meet the liquidity requirements they may qualify for some concessional fee treatment.

Information about the market makers registered with Cboe, eligible symbols and minimum liquidity requirements under the Cboe Investment Product Market Maker Fee Programme is provided in the links below.

Follow the links below for information about:

Registered Market Makers

View list of Cboe registered Market Makers

Investment Products

View list of Cboe eligible Investment Products

Liquidity Requirements

Find information about the minimum liquidity requirements

Market Making Models

Overview and risks of the Material Portfolio Information External Market Making Model and Internal Market Making Model

The Additional Liquidity Provider Scheme (ALPS) Fee Programme aims to improve the market quality of Australian Equities trading by enriching lit liquidity at the National Best Bid & Offer (NBBO). Cboe will commence with an ALPS pilot programme from August 2022 which will include symbols from the top 300 stocks by market capitalisation and an evaluation of the market quality impacts. ALPS pilot programme registered liquidity providers may receive some trading fee relief in relation to trades resulting from lit orders above a minimum size that either set or join the NBBO. A minimum size file by phases is also available.

For any queries or requests to participate in the ALPS pilot programme, please contact Cboe Australia Business Development.