2024-28113. Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Adopt an OTTO Protocol

Exchange	Market share (%)	OTTO	First free FIX port	Cap
BX	2	$650 per port, per month, per account number	yes	OTTO Port subject to monthly cap of $7,500.
MRX	2.5	$650 per port, per month, per account number	yes	OTTO Port currently subject to monthly cap of $7,500.
GEMX	2.4	$650 per port, per month, per account number	no	OTTO Port currently subject to monthly cap of $7,500.

Below is a chart comparing BX to unaffiliated exchanges with comparable logical ports.

Exchange	Market share (%)	Proprietary port	First free port	Cap
BX	2	$650 per port, per month, per account number	yes	OTTO Port subject to monthly cap of $7,500.
C2	2.8	BOE Port fee of $650 per port	no	no.
MEMX	2.3	MEMO SBE Port fee of $450 per port	no	no.
Emerald	3.6	Emerald does not offer a proprietary port similar to OTTO	no	no.
BatsEDGX	3.6	BOE Port fee of $750 per port, per month	no	no.