SEC Fees

Hello everyone!

My question is, I bought 500 shares of CAL and I sold them and was charged .36 cents for the sell, also bought 500 DAL and was charged .23 cents for the sell, they were different charges for the same amount of shares. If the sec charges 46.80 per million it doesn't work out. When you buy 500 and sell 500 I would assume that is a 1000 share trade and if I traded 100,000 shares that month my sec fees would have been 36.00 for CAL, a million shares would be 360.00 for the month. If buying 500 shares and selling 500 is considered a 500 share trade then the commissions would be twice as much .72 per 1000. It seems they have different charges for the various stocks. But I'm still in the dark on this subject. I may email the SEC on this help me clarify it. Good Luck To All
 
It's not charged per share, but on the dollar value of the sale.

# of shares x share price x sec rate = what you pay.
 
Quote from Ace_Rothstein:

http://www.sec.gov/news/press/2004-10.htm



In addition, effective Feb. 22, 2004, the Section 31 fee rate applicable to securities transactions on the exchanges and NASDAQ will decrease to $39.00 per million. The Section 31 assessment on security futures transactions will remain unchanged at $0.009 per round turn transaction.
More...

I guess they pushed the date up? According to this link it was originally supposed to take effect on 10/01/03. See here:

http://www.sec.gov/rules/other/33-8225.htm

"IT IS FURTHER ORDERED that the fee rates applicable under Sections 31(b) and (c) of the Exchange Act shall be $39.00 per million effective on the later of October 1, 2003, or thirty days after the date on which a regular appropriation to the Commission for fiscal year 2004 is enacted."

:cool:
 
Quote from MrDinky:

I guess they pushed the date up? According to this link it was originally supposed to take effect on 10/01/03.

...effective on the later of October 1, 2003, or thirty days after the date on which a regular appropriation to the Commission for fiscal year 2004 is enacted...

Right. They apparently just received their FY2004 money from Congress, who is always months late on the budget :(
 
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