Comission and Bullet Rates

So, Ticker, do I understand correctly that you're paying:

0.0035 NYSE
0.0065 INCA take liquidity
0.0035 INCA add liquidity
0.0065 ISLD take liquidity
0.0015 ISLD add liquidity

?

I'll note that the 0.003 rate for INCA is better than the published best rate of $0.005. Do you really get the liquidity "rebate" (no commission) here too, or do you pay 0.0065 regardless of add/take?

Any other fees, like SEC fee, order cancel/modify fees, per-ticket clearing fee or minimum charge?
 
Quote from alanm:

So, Ticker, do I understand correctly that you're paying:

0.0035 NYSE
0.0065 INCA take liquidity
0.0035 INCA add liquidity
0.0065 ISLD take liquidity
0.0015 ISLD add liquidity

?

I'll note that the 0.003 rate for INCA is better than the published best rate of $0.005. Do you really get the liquidity "rebate" (no commission) here too, or do you pay 0.0065 regardless of add/take?

Any other fees, like SEC fee, order cancel/modify fees, per-ticket clearing fee or minimum charge?
More...

Who pays those rates?? They seem high. Go to the ISLD web page and they show cheaper
 
Quote from alanm:

So, Ticker, do I understand correctly that you're paying:

0.0035 NYSE
0.0065 INCA take liquidity
0.0035 INCA add liquidity
0.0065 ISLD take liquidity
0.0015 ISLD add liquidity

?

I'll note that the 0.003 rate for INCA is better than the published best rate of $0.005. Do you really get the liquidity "rebate" (no commission) here too, or do you pay 0.0065 regardless of add/take?

Any other fees, like SEC fee, order cancel/modify fees, per-ticket clearing fee or minimum charge?
More...

Alanm,

Where did u get these quotes? I never quoted ecn rates, but here are the rates I pay.

BTRD $0.0064
BRUT $0.0055
ARCA $0.0035
INCA (Take) $0.0030
INCA (Add) ($0.0020)

ISLD is the same as inca

If i add liquidity my commissions work like this $3.50 charge -$2.00 ecn rebate net $1.50

I hope this is more clear for you.
 
Quote from TickerWatcher:
Where did u get these quotes? I never quoted ecn rates, but here are the rates I pay.

BTRD $0.0064
BRUT $0.0055
ARCA $0.0035
INCA (Take) $0.0030
INCA (Add) ($0.0020)

ISLD is the same as inca

If i add liquidity my commissions work like this $3.50 charge -$2.00 ecn rebate net $1.50

I got the INCA rates from http://www.instinet.com/equity_marketplace/BD_schedule_1102.pdf , based on the Listed Shares section. My schedule was meant to show what the total charge ("commission" + ECN) is for trading listed stocks (non-ETF) on the various routes.

I assume the rates that you showed are for Nasdaq and ETFs. Are they really the same for listed stocks?

Is there a per-ticket minimum?

My point in poking at the details, as I said before, is that a single number (like 0.0035) can't give the whole story - it depends on what and how you trade.
 
Yea, I only hit the ecns on etfs and that is what they charge me.

I stated in a post a few months ago to lower costs the trader has to bypass the middle man. Use a broker that seff clears. Going through a broker you have to add his markup so they can make a profit.
 
What rates are new traders getting out there at prop firms? Is anybody coming out of college and getting $.0075 or the like? Or do all firms pretty much start you at $.01 per share?????
 
You must log in or register to reply here.
Back
Top