Quote from Baywolf:
Looks interesting. Ferry, have you executed any complex orders (2-legs)? I am interested in the execution. Can you talk a little bit on that?
One issue that concerns me is the way they handle exchange rebates. On there website it reads: "All rebates received by LVS are paid to LVS customers at the sole discretion of LVS."
To me this reads, "We don't pass on exchange rebates."
A big NO NO for me.
what kind of volume does it start to make sense in considering that ? i mean obviously its not something my size has to worry about but.. just curious.. like its business.. so everything should be cnosidered.. but just your opinion.. what size book does that make sense to consider.. i mean maybe Ferry is that size.. but idk.. Customer orders are below... this is from the Bats .. as it is my understanding they give one of the highest rebates for order flow..
to me getting a .30 cent plus rebate for order flow freaking adds up! Ib prices <10,000 contract customers at .70 cents.. thats for stuff over .50 cents.. if your trading alot of contracts.. down to the .07 cent level with IB and giving liquidty to exchange.. seems like it would be umm.. something to consider..
Customer orders:
$0.30 rebate per contract for a Customer order that adds liquidity to the BATS Options order book and the
Member does not qualify for a higher rebate based on their ADV
$0.31 rebate per contract for a Customer order that adds liquidity to the BATS Options order book
where the Member has an ADV less than 0.25% of average TCV and also shows a minimum of 10 basis
points TCV improvement over their previous High Water Mark
4
$0.43 rebate per contract for a Customer order that adds liquidity from the BATS Options order book where the
Member has an ADV equal to or greater than 0.25% of average TCV but less than 0.75% of average TCV
4
These rebates and fees constitute our âgrow with usâ pricing for Members that are increasing their trading activity.913.815.7000 | batstrading.com ©2012 BATS Global Markets, Inc. â All Rights Reserved
Options Pricing (continued):
$0.44 rebate per contract for a Customer order that adds liquidity to the BATS Options order book where the
Member has an ADV equal to or greater than 0.25% of average TCV but less than 0.75% of average TCV
and also shows a minimum of 10 basis points TCV improvement over their previous High Water Mark
4
$0.46 rebate per contract for a Customer order that adds liquidity from the BATS Options order book where the
Member has an ADV equal to or greater than 0.75% of average TCV but less than 1.25% of average TCV
$0.47 rebate per contract for a Customer order that adds liquidity to the BATS Options order book where the
Member has an ADV equal to or greater than 0.75% of average TCV but less than1.25% of average TCV
and also shows a minimum of 10 basis points TCV improvement over their previous High Water Mark
4
$0.47 rebate per contract for a Customer order that adds liquidity to the BATS Options order book where the
member has an ADV equal to or greater than 1.25% of average TCV
