Question for anyone ..... it seems that if they route to ARCA we will still pay .25 cents per 1000 and they will give the contra the $2.00 per 1000 rebate. It doesnt make sense that they will lose $1.75 on every DOT to ARCA trade.
I have sent 3 emails to Ray at the NYSE and I have not gotten a response when I pose this question.
If this is the case.... I will go back to flipping, ask for a zero ticket deal.... go NYSE on LU and NT for 1 million shares each.... offer out on ARCA.... take a flat... and net $1750 x 2 for $3500 like the good 'ol flippin days.
I attached the link below for your reading enjoyment.
David
In anticipation of the SECâs expected approval of the NMS Linkage Plan that will, in effect, replace the existing Intermarket Trading System Plan (âITS Planâ), effective October 1, 2006, NYSE LLC will implement a new Linkage Order Fee schedule for equities and ETFs for orders routed to other markets through the NMS Linkage. Order routing fees for equities will be set at 2.5 cents per 100 shares consistent with NYSE transaction fees. Order routing fees for Exchange Traded Funds (ETFs) will be set at our current ETF transaction fee of 30.0 cents per 100 shares.
While NYSE LLC routes orders out infrequently, the new fees will enable NYSE LLC to recover a portion of the costs imposed on the NYSE by other markets, enhance our ability to provide low cost order execution, and help maintain a simplified pricing and billing structure for our customers.
The purpose of the new NMS Linkage Plan, like the ITS Plan, is to enable markets to route orders to each other in order to avoid trading through. Trading that takes place over the NMS Linkage System will be performed through the same data processing hardware, software and communications network that comprises the existing ITS System. Unlike the current ITS Plan, under which access to other markets is free, with the implementation of the Linkage Plan, linkage participants will charge each other the transaction fees that are charged to each marketâs members.
The new Linkage Order Fees will extend until the scheduled termination of the NMS Linkage Plan on June 30, 2007.
* Linkage Order Fee for Equitiesâper share: $0.00025. The Linkage Order Fee will be billed monthly, is subject to the cap of $750,000 monthly per firm, but is not subject to the cap of $80 per transaction.
* Linkage Order Fee for ETFsâper share: $0.0030. The Linkage Order Fee will be billed monthly and applies both to ETFs listed on the NYSE and to those traded on the NYSE on a UTP basis. The Linkage Order Fee applies to System Orders under 5,100 shares, is not subject to the cap of $100 per trade for ETFs.
http://hybridtalk.nyse.com/archives/2006/09/routing__fee.php
I have sent 3 emails to Ray at the NYSE and I have not gotten a response when I pose this question.
If this is the case.... I will go back to flipping, ask for a zero ticket deal.... go NYSE on LU and NT for 1 million shares each.... offer out on ARCA.... take a flat... and net $1750 x 2 for $3500 like the good 'ol flippin days.
I attached the link below for your reading enjoyment.
David
In anticipation of the SECâs expected approval of the NMS Linkage Plan that will, in effect, replace the existing Intermarket Trading System Plan (âITS Planâ), effective October 1, 2006, NYSE LLC will implement a new Linkage Order Fee schedule for equities and ETFs for orders routed to other markets through the NMS Linkage. Order routing fees for equities will be set at 2.5 cents per 100 shares consistent with NYSE transaction fees. Order routing fees for Exchange Traded Funds (ETFs) will be set at our current ETF transaction fee of 30.0 cents per 100 shares.
While NYSE LLC routes orders out infrequently, the new fees will enable NYSE LLC to recover a portion of the costs imposed on the NYSE by other markets, enhance our ability to provide low cost order execution, and help maintain a simplified pricing and billing structure for our customers.
The purpose of the new NMS Linkage Plan, like the ITS Plan, is to enable markets to route orders to each other in order to avoid trading through. Trading that takes place over the NMS Linkage System will be performed through the same data processing hardware, software and communications network that comprises the existing ITS System. Unlike the current ITS Plan, under which access to other markets is free, with the implementation of the Linkage Plan, linkage participants will charge each other the transaction fees that are charged to each marketâs members.
The new Linkage Order Fees will extend until the scheduled termination of the NMS Linkage Plan on June 30, 2007.
* Linkage Order Fee for Equitiesâper share: $0.00025. The Linkage Order Fee will be billed monthly, is subject to the cap of $750,000 monthly per firm, but is not subject to the cap of $80 per transaction.
* Linkage Order Fee for ETFsâper share: $0.0030. The Linkage Order Fee will be billed monthly and applies both to ETFs listed on the NYSE and to those traded on the NYSE on a UTP basis. The Linkage Order Fee applies to System Orders under 5,100 shares, is not subject to the cap of $100 per trade for ETFs.
http://hybridtalk.nyse.com/archives/2006/09/routing__fee.php