ArcaEx Eliminates Listed Fees!!

[BankerBlueChips]

Quote from fattyasids:

The problems with ARCA that I've been having were confirmed problems on ARCA's side and not specific to my bd.

What were the problems and how many times have they occured ?

 

[nitro]

Quote from BankerBlueChips:



...
- Nitro, just cause IB didn't change your rates, doesn't mean that the prices havent changed. I clipped and pasted the ECN pricing grid from the ARCA website. Call ARCA and ask them what the pricing is if you don't believe it. ..

I did not mean to say that I did not believe it, only wondering why the savings have not been passed down to me?

nitro

 

[alanm]

nitro: What are you smoking?

You know IB doesn't charge any ECN fees or credit any ECN rebates. They average it all out and charge 0.01/0.005 (plus 0.003, plus 0.12 per excess message if using non-SMART through the API).

As a result, if you were sending orders manually via TWS, or used SMART, IB was the cheapest broker to use to take listed liquidity from INCA and almost cheapest for taking it from ARCA, since the ECN fees were 0.005 and 0.003 respectively, and IB is charging 0.0075 all-in at 1000 shares.

Now, of course, there's yet another compelling reason to change their pricing model to be more specific to what and where you trade.

 

[thetraderprofit]

What is Tape B?

 

[nitro]

Quote from alanm:

nitro: What are you smoking? ...

Gulp.

What _am_ I smoking? I don't know what came over me. I have been thinking so much abour reducing my comissions and thinking about routing issues I just forgot.

nitro

 

[hans130]

I have not seen any problems with arca for months. IMHO they are the best ecn and have very good routing capabilities. They are my top destination vs. other ecn's and soes.

 

[mksummny]

I use ARCA all the time, trading around 15 million shares there a month. This new pricing schedule will definitely be a benefit to my business even though they have cut out rebates. I am still waiting on my broker to contact me and let me know when they will implement this new schedule. Cheers to all you ARCA traders out there

 

[ChartingMarkets]

Quote from BankerBlueChips:

ITS ALREADY HAPPENED MY FRIEND!!!!!!! .......... ARCA can do what they want.... They are a stand alone exchange.


The Archipelago Exchange (ArcaEx) has dropped a bomb on the NYSE by becoming the first major electronic market to eliminate fees for trading NYSE-listed stocks. ArcaEx said it is eliminating its tape sharing credits to offset the fee-reduction and will continue charging $0.004 per share when listed trades are routed to other destinations. The news comes one day ahead of Instinet’s new listed pricing scheme. Instinet had announced that it would be moving to a $0.001 (for taking liquidity) / free (for adding liquidity) model on August 1. ArcaEx’s model one-ups Instinet by not charging traders a fee for hitting bids or taking offers on the ArcaEx book. The news may pose a serious new challenge for the NYSE because ArcaEx will now offer cheaper executions than most NYSE DOT providers. ArcaEx also offers auto-execution, immediate cancels, and ITS “trade-through protection.” Trade-throughs, however, continue to occur on ArcaEx to a degree where some traders believe the SEC should step in. ArcaEx’s new pricing, which begins tomorrow, does not apply to odd lot orders or NASDAQ trading.





Transaction Fees / Rebates
Round lot orders that take liquidity from the ArcaExsm Book in OTC, AMEX and other Tape B listed securities $0.003 per share
Round lot orders that take liquidity from the ArcaExsm Book in NYSE listed securities No Fee
Round lot orders residing in the ArcaExsm Book that execute against inbound marketable orders in OTC, AMEX and other Tape B listed securities $0.002 per share credit
Round lot orders residing in the ArcaExsm Book that execute against inbound marketable orders in NYSE listed securities No Fee
Round lot outside the ArcaExsm Book in NYSE, AMEX and other Tape B listed and securities and OTC securities and are executed by another market center or participant $0.004 per share
Directed Orders (unless they are routed away), orders executed in the opening and market order auction, and Cross Orders No Fee
Market data revenue sharing credit applicable to limit orders residing in the ArcaEx Book that execute against inbound marketable orders in Tape B* securities 50% tape credit
Market data revenue sharing credit applicable to any cross orders where the ETP Holder or Sponsored Participant represents all or one side of the transaction and all or a portion of the other side in a Tape B* security 50% tape credit
Listed executed orders that are initially entered as odd-lot orders and executed against the book or by another market center $0.03 per share
OTC executed orders that are initially entered as odd-lot orders and executed against the book or by another market center $0.004 per share

Well for whats its worth it didnt last long. Arca as we all know is charging for listed again those goddam bastards the nerve of them to want to make money!

 

[nitro]

Oye vey,

Are you serious? Where is the press release?

nitro

Quote from ChartingMarkets:

Well for whats its worth it didnt last long. Arca as we all know is charging for listed again those goddam bastards the nerve of them to want to make money!

 

[ChartingMarkets]

Quote from nitro:

Oye vey,

Are you serious? Where is the press release?

nitro

Hey Nitro, Unless I have gone completely mad. Just last week I was looking at all my fills for NYSE on ARCA and all of them had .003 share fees added on. Now I went back for a couple of weeks past then and the same thing. Now I use limit orders etc sometimes I just take right whats in the book so its not a question that I went out of the book while using the ARCA route. I called up Terra Nova Online and they said ARCA is charging again for in the book or out of the book fills on NYSE. If you have evidence of the contrary I would love to know so I can give Terra Nova a knuckle sandwich.