It looks like the nyse is upping the arca rebate but also upping their fee to remove liquidity...
http://biz.yahoo.com/bw/070912/20070912005641.html?.v=1
-Guru
http://biz.yahoo.com/bw/070912/20070912005641.html?.v=1
-Guru
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
The cost of nyse trading going up...
- Thread starter listedguru
- Start date
Thats a good question mr. moose. I'm not sure what OPG are classified as...
The nyse is also closing down two trading rooms (from 4 to 2) and the ETF's will be trading on nyse arca (no more spec for those)...
-Guru
The nyse is also closing down two trading rooms (from 4 to 2) and the ETF's will be trading on nyse arca (no more spec for those)...
-Guru
Quote from mrmoose:
OPG orders on NYSE are taking or adding?
OPG are providing according to my people.
If I find out otherwise, I will post here.
From 2.75 cents each way, regardless of taking or providing, to 8 cent for taking and zero for providing on NYSE. They also raised the ARCA Listed rebated from 20 cents to 25 cents, so the nickel is coming back that way.
We "park on ARCA" - take on NYSE, at least for now, and it looks like that is even more viable come October.
Since they eliminated all the One dollar Specialist fees a while back, I guess paying 8 cents isn't so bad...better than paying ARCA 30 cents. Things change, have to adapt.
Don
Quote from listedguru:
Thats a good question mr. moose. I'm not sure what OPG are classified as...
The nyse is also closing down two trading rooms (from 4 to 2) and the ETF's will be trading on nyse arca (no more spec for those)...
-Guru
Any word on when the NYSE is moving all ETF's to nyse arca?
- mnx
Quote from Don Bright:
OPG are providing according to my people.
If I find out otherwise, I will post here.
From 2.75 cents each way, regardless of taking or providing, to 8 cent for taking and zero for providing on NYSE. They also raised the ARCA Listed rebated from 20 cents to 25 cents, so the nickel is coming back that way.
We "park on ARCA" - take on NYSE, at least for now, and it looks like that is even more viable come October.
Since they eliminated all the One dollar Specialist fees a while back, I guess paying 8 cents isn't so bad...better than paying ARCA 30 cents. Things change, have to adapt.
Don
OK, as promised, I double checked and I was, uh, uh, not correct (not wrong, LOL)....anyway, they are going to start counting the OPG orders and MOC orders as "crosses" and charge a "blended rate" of 4 cents per hundred shares. We have been paying 2.75 cents per hundred anyway, so this is not too big a deal.
Don
This change is not significant.
Based on my 3,000,000 Listed shares monthly...
** In terms of the NYSE **...
Most professional trading operations...
Should have experienced in the a last 6 months:
(1) An increase in volume and profits.
(2) Flat or slightly lower transaction costs.
The abolition of the short sale "uptick rule"...
Should result in AT LEAST a roughly 20% increase in short volume...
Which a hedging operation will match immediately with long volume...
So TOTAL overall volume increases 20% (not 10%).
Market fragmentation has actually created a slightly better pricing environment...
For professionals to exploit.
The July-August hysterics should have provided ** easy windfall profits **...
For any experienced trading operation.
Anyone having a sub-par year...
Should take a hard, critical look at their methodologies.
Based on my 3,000,000 Listed shares monthly...
** In terms of the NYSE **...
Most professional trading operations...
Should have experienced in the a last 6 months:
(1) An increase in volume and profits.
(2) Flat or slightly lower transaction costs.
The abolition of the short sale "uptick rule"...
Should result in AT LEAST a roughly 20% increase in short volume...
Which a hedging operation will match immediately with long volume...
So TOTAL overall volume increases 20% (not 10%).
Market fragmentation has actually created a slightly better pricing environment...
For professionals to exploit.
The July-August hysterics should have provided ** easy windfall profits **...
For any experienced trading operation.
Anyone having a sub-par year...
Should take a hard, critical look at their methodologies.
I agree with you, and the volumes have increased. We just do our best to be sure that our traders are kept up to speed on all routing contingencies such as re-routing fees, etc. so that they can capitalize on the benefits.
Don
Don