NYSE rates rising on 8/1/2006?

If you click on the specific press release I mentioned you will see what I am speaking of. The date of the release is on 6.30.06.
 
Quote from Casey30:

According to the press release on 6/30/2006, NYSE is raising their rates by .00025 per share. Are all all firms raising their rates to pass on the cost to their traders?


http://www.nyse.com/Frameset.html?nyseref=&displayPage=/press/PressReleases.html
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"Transaction fees on NYSE-listed equities will be based on a fixed rate of 0.00025 per share rather than the current variable fee schedule."

it sounds like they are just changing their pricing, not increasing.
 
Quote from rjv27:

"Transaction fees on NYSE-listed equities will be based on a fixed rate of 0.00025 per share rather than the current variable fee schedule."

it sounds like they are just changing their pricing, not increasing.
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Now you know how much the big brokers are paying, what your prop firm is likely paying, and how much money they really make off of you!
 
i know that at the firm im with , buying through the ny book is free adding and removing, aside from sec and what not,,, ecns cost, some rebate for adding liquidity, this is true that ny book will soon cost 25 cents per 1000shares to remove and i think add to. thats what i heard, and this article confirms.
 
Which may, or may not, be in lieu of the existing billable/non-billable/other structure. In any case, it's a really tiny fee at $0.25/1000, especially if it replaces the $0.01/share spec charge. As usual, their PR is just that - for the press - the details are buried somewhere.
 
Quote from daytrade:

i know that at the firm im with , buying through the ny book is free adding and removing, aside from sec and what not,,, ecns cost, some rebate for adding liquidity, this is true that ny book will soon cost 25 cents per 1000shares to remove and i think add to. thats what i heard, and this article confirms.
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So you pay no base commission to trade NYSE, you only pay ECN's and sec fees? Where's the catch?
 
Quote from rjv27:

"Transaction fees on NYSE-listed equities will be based on a fixed rate of 0.00025 per share rather than the current variable fee schedule."

it sounds like they are just changing their pricing, not increasing.
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The prop firm I'm with just announced the new fee and they are passing it along to all traders.

Now I'm a little confused about the old fee schedule since nothing was said about that. Did prop firms pay some sort of fees according to a variable schedule before and now they are using this new fee imposed by NYSE to make more money off their traders since prop firms are passing the new fee along but don't have to pay the old fees anymore?
 
Quote from LowRisk:

The prop firm I'm with just announced the new fee and they are passing it along to all traders.

Now I'm a little confused about the old fee schedule since nothing was said about that. Did prop firms pay some sort of fees according to a variable schedule before and now they are using this new fee imposed by NYSE to make more money off their traders since prop firms are passing the new fee along but don't have to pay the old fees anymore?
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The old fees were as follows:

Orders under 2,100 shares(system orders)-----No Charge

Trades greater then 2,099 shares----------------.0023 per share

From 5,001 to 690,000 shares---------------------.0001 per share
 
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