Rebates?
- Thread starter Norm
- Start date
Island gives you rebates when adding liquiditing and sometimes when removing liquidity, you can check them out on their site, it tells you on what exchange and when you will be getting the rebates. Make sure to ask for rebates when opening an online trading account, some brokers do not tell you about these rebates so they keep it for themselves.
Boss had a point with his remark.
The joking around and 'ball busting' is cool and fun in the moment, and also adds needed color to the sight. But I would suggest to the site administrator this :
All those fluff posts get "tagged", which would mean that they would automatically get ommitted after a certain time period, like 2 months or so. That way the current topics will include all the joking and fluff, but the older "archive" threads will be concise and easy to read through. I'm sure I'm not the only one who has gotten annoyed reading back through old threads where 50% or more of the posts is fluff. This thread is a great example. It should ultimately be one question and maybe a few answers - not six pages!
The joking around and 'ball busting' is cool and fun in the moment, and also adds needed color to the sight. But I would suggest to the site administrator this :
All those fluff posts get "tagged", which would mean that they would automatically get ommitted after a certain time period, like 2 months or so. That way the current topics will include all the joking and fluff, but the older "archive" threads will be concise and easy to read through. I'm sure I'm not the only one who has gotten annoyed reading back through old threads where 50% or more of the posts is fluff. This thread is a great example. It should ultimately be one question and maybe a few answers - not six pages!
Switch brokers.
You should be able to negotiate stuff like this if you've been a client for a while.
For example I am retail. I get .004 per share and all ECN pass throughs plus access to MM's who charge nothing for taking liquidity (some slippage will happen though, depends on liquidity).
The bottom line becomes significant:
Say you use BRUT and you do a limit buy (adding) for 1k shares.
Comm: 4.00
ECN : -2.20
Cost : 1.80
Now you want to exit at market (taking). Use NITE and pay nothing. Total RT cost = 5.80
If you want to exit at limit with ARCA (adding) then you pay 4.00 - 2.00 or roundtrip of 3.80. So on and so fourth with other combinations of entry/exit.
Get the picture? If you use ECNs and MMs well the rebates make a huge difference in your bottom line.
You should be able to negotiate stuff like this if you've been a client for a while.
For example I am retail. I get .004 per share and all ECN pass throughs plus access to MM's who charge nothing for taking liquidity (some slippage will happen though, depends on liquidity).
The bottom line becomes significant:
Say you use BRUT and you do a limit buy (adding) for 1k shares.
Comm: 4.00
ECN : -2.20
Cost : 1.80
Now you want to exit at market (taking). Use NITE and pay nothing. Total RT cost = 5.80
If you want to exit at limit with ARCA (adding) then you pay 4.00 - 2.00 or roundtrip of 3.80. So on and so fourth with other combinations of entry/exit.
Get the picture? If you use ECNs and MMs well the rebates make a huge difference in your bottom line.
Hamlet ..can you put this in the feedback forum?
if you don't like fluff.