Commissions for aggregated ECNs

4

4XQs

I'm wondering what commission scales are achievable when negotiating trading with aggregated ECNs like Apama, CAX or ChoiceFX. Without direct relationships with each marketplace that is. Anyone with any experience on this?

I'm expecting it to be slightly higher than what you normally pay to an ECN such as HSFXi or IB - since you get the benefit of aggregation, entering on one and exiting on another with the trades cleared centrally and of course (in theory) improved spreads.
 
The may be of some help: http://www.aarontrade.com/html/fee.html

The commission structure can change for aggregators depending on which front end you utilize to trade. But on CAX it’s the same if you use TV or Choice.


I assume you are referring to Progress Apama http://www.progress.com/apama/products/apama_algo/index.ssp

Essentially this isn't an ECN but an algo trading platform. Although they do support connectivity to leading liquidity sources.

You can expect to pay about $10,000 a month for Progress Apama all "bells and whistles" attached.
 
Quote from 4XQs:

I'm wondering what commission scales are achievable when negotiating trading with aggregated ECNs like Apama, CAX or ChoiceFX.
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Apama and ChoiceFX are just platforms. vCap offers ChoiceFX as one of the trading platforms for CAX (the other is developed in-house).

All rates are going to be volume negotiated, you're typically looking at $30-35/M for the lowest volume tiers.
 
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