Island's Fees & Rebates

[Marc to Market]

Does anyone know if Island's fees of .0030 per share for removing liquidity and .0020 rebate per share for adding liquidity is the same for all broker-dealers? Or do they work out different deals for the large brokerage houses like Etrade and Ameritrade?

Thanks,

Marc

 

[calibertrader]

Quote from Marc to Market:

Does anyone know if Island's fees of .0030 per share for removing liquidity and .0020 rebate per share for adding liquidity is the same for all broker-dealers? Or do they work out different deals for the large brokerage houses like Etrade and Ameritrade?

Thanks,

Marc

Every broker is differemt. It's a matter of how much of their own profit they build into the spread.

 

[calibertrader]

Quote from Marc to Market:



Sorry if I wasn't clear, but I meant what Island charges the broker-dealer or institution; not what the broker passes on to its customers.

Marc

That most likely depends on the volume the broker is doing through them, so there would be differences between brokers.