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Genesis Q&A
- Thread starter Serge Pustelnik
- Start date
Serge,
Does your sofware support routing to Direct+ / SuperDot ? If yes, how much are the fees ?
If your retail clients are having trouble placing a trade because of computer problem or internet problem at their end and need to place a trade by telephone, are the fees still the same or will there be an additional fee for phoned orders.
Are there fees for mailing confirms and monthly statements ?
Thx
P.S.
Serge, you should consider sponsoring an ET Chat Room Session for Q&A where ppl can ask you questions.
Does your sofware support routing to Direct+ / SuperDot ? If yes, how much are the fees ?
If your retail clients are having trouble placing a trade because of computer problem or internet problem at their end and need to place a trade by telephone, are the fees still the same or will there be an additional fee for phoned orders.
Are there fees for mailing confirms and monthly statements ?
Thx
P.S.
Serge, you should consider sponsoring an ET Chat Room Session for Q&A where ppl can ask you questions.
Serge Pustelnik
Genesis Securities
Quote from alanm:
Serge: Actually, for listed stocks on inet, there is no charge to take or add liquidity. You'd probably not want to use inet to route listed to NYSE if you have a DOT connection. Do you? Are there additional fees for that? Why are listed base commission rates higher than NASDAQ?
Can you confirm/add the ECN rates for listed stocks?
for listed, absolutely there is no point to use routing. The routing is for NASDAQ stocks. inet has a contract with NASDAQ.
Current Listed ECN fees:
(Fee/Rebate)
inet: 0/0
ARCA : 1/0
I am trying to contact Brut to get the latest pricing as well - however we do not mark up or mark down those rates.
There are no additional fees for Dot.
The reason the listed commissions are higher is because of two reasons:
1) We currently do 1.5 - 2% of nasdaqs trading volume and our costs are really low of NASDAQ
2) We pay on a per share basis for the listed. Once we do more listed volume, expect the costs to come down, and so will our rates
Serge Pustelnik
Genesis Securities
Quote from WinSum:
Serge,
Does your sofware support routing to Direct+ / SuperDot ? If yes, how much are the fees ?
If your retail clients are having trouble placing a trade because of computer problem or internet problem at their end and need to place a trade by telephone, are the fees still the same or will there be an additional fee for phoned orders.
Are there fees for mailing confirms and monthly statements ?
Thx
P.S.
Serge, you should consider sponsoring an ET Chat Room Session for Q&A where ppl can ask you questions.
Our software supports both Direct+ and SuperDot and there is no extra fees for that.
Our retail clients call call our trading desk to place an order: broker assisted orders are $20.00 .
Confirmations & statements: Electronic daily + monthly statements are free of charge
Mailing: $2.00 per mailing
Thanks
Serge Pustelnik
Genesis Securities
Quote from Fletch:
Not to nit-pick... but why do you charge $70 for NYOB when most everyone else charges $50?
We get charged $50 Access + $20 from the vendor. $70.00 is our current cost. When we become vendors, we will drop the price. Currently this is what we are being charged. We are not making money on this.