Applicability of Trading Fees. Fees apply per calendar month and are invoiced at the end of each month. TGHL reserves the right to amend these fees. Trading fees are payable in respect of all executions as occurred and notified to a member. Passive trading fee applies to the visible portion of orders posted on the Turquoise Lit Order Book™ that are executed against by an incoming aggressive order. Any non-visible portions of posted orders (e.g. iceberg reserve, LIS hidden) are charged as 'Aggressive'. Aggressive trading fee applies to the portion of an incoming order to the Turquoise Lit Order Book™ that executes immediately against posted orders at or better than the then Turquoise® BBO. For further terms and conditions relating to the trading charges, please refer to the Turquoise® Rule Book and Membership Agreement.
