is it a good rate?

K

ksonsinc

Well hello ET pll
Can you tell me this is a decent thing i am getting or am i being screwed

0.005 rate
no software fees
doing shares 250 K to 350K a month but planning to do more
10.1 Margin
Pass through are all through me ECN BRUT soes
That mean if i am responsible for the ecn rebates and pass through
I trade mostly NASDAQ
QQQQ DELL INTC ORCL CSCO SPY DIA AMAT VRSN NVDA SOME TIME WMT TXN ETC
PLEASE ADVICE IS GREATLY appreicate - ??????????
 
250-350k shares per month isn't even worth haggling for a commission adjustment.
When you get your volume higher (1 million+), ask for lower rates and you should get them.
 
0.005 seems to be decent with that volume. I pay almost 3 times (1.5 cents) with your volume, no software or desk fee. What is your payout rate and with what firm are you currently.
 
more important than a good rate is software and bp. most traders fail to understand this.

Quote from ksonsinc:

Well hello ET pll
Can you tell me this is a decent thing i am getting or am i being screwed

0.005 rate
no software fees
doing shares 250 K to 350K a month but planning to do more
10.1 Margin
Pass through are all through me ECN BRUT soes
That mean if i am responsible for the ecn rebates and pass through
I trade mostly NASDAQ
QQQQ DELL INTC ORCL CSCO SPY DIA AMAT VRSN NVDA SOME TIME WMT TXN ETC
PLEASE ADVICE IS GREATLY appreicate - ??????????
More...
 
Holy crap, you are the one who should have started this thread. A penny and a half a share? Thats insane these days. You could get so much lower.


Quote from jimpat2005:

0.005 seems to be decent with that volume. I pay almost 3 times (1.5 cents) with your volume, no software or desk fee. What is your payout rate and with what firm are you currently.
More...
 
Hey guys - I'm in talks with a few firms re: moving my account over.

I'm looking to leave a firm that I'm with now, which puts up all the money (but keeps 25%) and to go on my own.

One firm I'm talking with has offered me:

70x BP
100% payout.
.008/share with a min of 500,000 shares/month
No desk/software fee
Hammer/Anvil (This is ESSENTIAL for me)

My question is: Can someone explain the ECN fee structure to me?

I've been overlooking and just round my ticket cost up to $10/ticket and I know I've been getting fleeced, hence my taking the initiative to make a move.
 
Quote from FaderTrader:
70x BP
100% payout.
.008/share with a min of 500,000 shares/month
No desk/software fee
Hammer/Anvil (This is ESSENTIAL for me)

My question is: Can someone explain the ECN fee structure to me?

$0.008 seems a little high.

If you add liquidity for NASDAQ/ETFs, you get a credit of ~$0.002/share. Removing liquidity charges you ~$0.003/share. For listed stocks, the rates are between $0.001 credit and $0.001 charge for removing, $0.0005-$0 credit for adding. You probably will also pay SEC fees of about $0.001 for every $33 of stock price (on sales only). There's also a mostly insignificant NASD TAF.

Adding liquidity means you post a non-marketable bid/offer and someone hits/takes it. Removing liquidity means you hit/take an existing bid/offer with a marketable order.

Examples:
1. Post a bid to buy 300 AAPL @ $74 on ARCA, and get hit, and you pay 300 * ($0.008 - $0.002) = $1.80 (assuming no minimum per order).

2. Enter a sell order to hit an existing bid on ARCA for 300 AAPL @ $74 and you pay 300 * ($0.008 + $0.003) + $0.69 = $3.99.
 
Quote from alanm:

Quote from FaderTrader:
70x BP
100% payout.
.008/share with a min of 500,000 shares/month
No desk/software fee
Hammer/Anvil (This is ESSENTIAL for me)

My question is: Can someone explain the ECN fee structure to me?

$0.008 seems a little high.

If you add liquidity for NASDAQ/ETFs, you get a credit of ~$0.002/share. Removing liquidity charges you ~$0.003/share. For listed stocks, the rates are between $0.001 credit and $0.001 charge for removing, $0.0005-$0 credit for adding. You probably will also pay SEC fees of about $0.001 for every $33 of stock price (on sales only). There's also a mostly insignificant NASD TAF.

Adding liquidity means you post a non-marketable bid/offer and someone hits/takes it. Removing liquidity means you hit/take an existing bid/offer with a marketable order.

Examples:
1. Post a bid to buy 300 AAPL @ $74 on ARCA, and get hit, and you pay 300 * ($0.008 - $0.002) = $1.80 (assuming no minimum per order).

2. Enter a sell order to hit an existing bid on ARCA for 300 AAPL @ $74 and you pay 300 * ($0.008 + $0.003) + $0.69 = $3.99.
More...

Thanks for that great response - super helpful. Right now, I'm paying about .008/share, plus fees, etc and I just round it up to $10/ticket and I'm able to net my tier size almost everyday with that.

I'm not a scalper, so even when I bump my size up to 2000 from 1000, 500-700k/share per month is about what I plan to do. Maybe 1 million on a busy month.

Would you be willing to provide some specific advice on how/what to negotiate with the firm I'm considering switching to? Part of me just thinks I should take it - they seem super understanding of my unwillingness to trade hyperactively and the leverage is awesome (70x).

What would you do? Thanks in advance!
 
Quote from FaderTrader:

Hey guys - I'm in talks with a few firms re: moving my account over.

I'm looking to leave a firm that I'm with now, which puts up all the money (but keeps 25%) and to go on my own.

One firm I'm talking with has offered me:

70x BP
100% payout.
.008/share with a min of 500,000 shares/month
No desk/software fee
Hammer/Anvil (This is ESSENTIAL for me)

My question is: Can someone explain the ECN fee structure to me?

I've been overlooking and just round my ticket cost up to $10/ticket and I know I've been getting fleeced, hence my taking the initiative to make a move.
More...

sounds like Lynx, sounds too high for my taste.
 
oh thats for sure a lynx rate those guys rape you so does madison trading they give you free lunch to keep you churning in the afternoon with your high commission deals
 
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