Arca fee to short ?

M

mcelitetrader

ET Sponsor
I put out an arca offer on the NYSE one penny into the money. I was filled instantaneously....I was charged the 2$ arca remove liquidity ecn rate. Any ideas.....?

How is it possible to take liquidity on the NYSE with the uptick rule in place? Am I missing something?
 
what stock was it?? Maybe you shorted one of the SHO pilot stocks which don't need an uptick to short. But if thats not the case I have no idea.
 
ya that shouldn't be... maybe your trading software marked the position as a long sale not a short sale.. and in that case you may get a short sale violation also..
 
Quote from mcelitetrader:

I put out an arca offer on the NYSE one penny into the money. I was filled instantaneously....I was charged the 2$ arca remove liquidity ecn rate. Any ideas.....?

How is it possible to take liquidity on the NYSE with the uptick rule in place? Am I missing something?
More...
Are you sure you were charged and not credited? The rate for removing on 1000 shares is $3, not $2 - but when you put an offer or bid out, and are taken out, you are given $2.
 
Thanks for the replies....I was being charged 3 bucks for the removal of liquidity (I earlier said 2). I have straightened out my order execution and everything is now correct. Thanks for the help and for all of the answers.

THIS is why elitetrader is a great forum. Real answers with no sarcasm...Im actually quite impressed.
 
You must log in or register to reply here.
Back
Top