| Program | Access | Description |
|---|---|---|
| Universal Maker Rebate | Open | 20 bps rebate on all maker volume |
| Market Incentive Program | Open | Pro-rata volume rewards for trading eligible contracts |
| Weekly Incentive Program | Open | Rewards for providing liquidity via resting orders |
| Market Maker Program | Application | Per-contract rebates for maintaining two-sided quotes |
Market Incentive Program
An open-access program that rewards traders based on their share of eligible volume on an Instrument. Eligible instruments and reward amounts are published on the Exchange website. Participants earn a pro-rata share of the total reward based on their share of total volume on the Instrument. Rewards are calculated at the end of each term and credited to eligible participant accounts.| Term | Definition |
|---|---|
| Eligible Term | A specified period during which an Instrument is eligible for volume incentives; this is the full lifetime of the Instrument, unless otherwise specified |
| Eligible Volume | Trades executed between 3c and 97c |
| Volume Reward | Fixed reward amount per Instrument |
| Volume Multiplier | A factor applied to volume during designated periods to incentivize trading during specific windows |
Weekly Incentive Program
An open-access program that rewards participants for providing liquidity through resting orders on eligible contracts. Each participant earns a pro-rata share of the incentive pool based on their share of the total notional volume on resting orders that get filled. Limits apply to promote broad participation. Payments are calculated within 24 hours and credited to eligible participant accounts within 72 hours after each incentive period ends. Subject to a $500,000 maximum cap per weekly period, the Exchange may apply different parameters for each listed contract or contract group with different amounts, timeframes, and multipliers. The weekly pool is currently allocated across three sub-programs:| Program | Pool | Description |
|---|---|---|
| Openers Program | $150,000 | First 72 hours after listing: UFC, MLS, EPL, UCL. First 48h after listing: MLB, ATP, WTA. First 24h after listing: NHL, NBA, CBB. |
| Volatility Program | $100,000 | All contracts on the platform during live event periods. |
| Launch Program | $250,000 | Pre-event trading on new Products: ASC, TSC, TEC, and TAC. |