SEC fee changes

rtrading · May 7, 2002

I heard that the SEC has doubled the SEC tax in the last couple of months on stock trades. Does anyone know what the actual percentage per dollar value of a trade actually is now?

Thanks...

Babak · May 7, 2002

http://www.elitetrader.com/vb/showthread.php?s=&threadid=4832

Trade_Cents · May 7, 2002

The sec fees are about $33 for every 1 million dollars in sales.

DayTraderNYC · May 8, 2002

Used to be $15/ $1M sell.
On April 1, went up over 100% to $30.50/$1M sales $$. Whats up with that????!!! 100% hike??

AmbushHillbilly · May 9, 2002

SEC fees were cut in half earlier in the year. With the low volume of the last few months the rates were raised back to where they were.

The gov giveth and the gov taketh away.. mostly the latter.

Vinny1 · May 9, 2002

Originally posted by DayTraderNYC
Used to be $15/ $1M sell.
On April 1, went up over 100% to $30.50/$1M sales $$. Whats up with that????!!! 100% hike??

Does this fee of $30.50/$1M sales apply to total dollar amount of trades,which include buys and sells?For example,i buy 50,000 shares of a $20 stock,then sometime later i sell the 50,000 shares at $20. Would i pay a total of $30.50 or $61.00? Also,do these SEC fees apply to both NYSE and NASDAQ trades?

metooxx · May 9, 2002

Originally posted by Vinny1

Does this fee of $30.50/$1M sales apply to total dollar amount of trades,which include buys and sells?For example,i buy 50,000 shares of a $20 stock,then sometime later i sell the 50,000 shares at $20. Would i pay a total of $30.50 or $61.00? Also,do these SEC fees apply to both NYSE and NASDAQ trades?

If I remember right it is sells only.

lescor · May 15, 2002

what firms eat this cost? I never paid it with IB. I've averaged 25000 shares a day this month and have paid almost $300 in SEC fees on that. Are any firms that used to eat the cost planning on passing it through now that the rates have gone back up?

DayTraderNYC · May 15, 2002

It only applies to your sell $ amount.

bro59 · Jun 14, 2002

Few firms will "all in" the SEC fee. Interactive Brokers apparently does include the SEC fee in their published share rate, just as ECN fees are included, which is pretty generous.

My prop firm doesn't eat the SEC fee, but pass it on to the trader. I'm not even sure what the current rate is, maybe 1/300 of 1%, applied only to sells.