United States

EDGA executed 84 basis points (bps) of volume, the highest volume month in 2025. 39 bps of EDGA volume was executed in the dark through hidden and midpoint orders. EDGA has no tiers and features competitive rebates for displayed and hidden liquidity. Customers receive a -$.0027 rebate for display adding and a -$.003 rebate for display National Best Bid or Offer (NBBO) adding.