The new hybrid system and scalping equities

Nobody's talked about the 25 cent per 1000 shares nyse will be charging . that's an extra $500 amonth for somebody doing 100k shares a day
 
That started Aug 1st. They have already been charging us that.

Quote from brandon12:

Nobody's talked about the 25 cent per 1000 shares nyse will be charging . that's an extra $500 amonth for somebody doing 100k shares a day
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Im not excited about it. but i wasnt for every other
change over the last 7 years (bullets-liq quote- pennies-etc etc) but managed to adapt.

as far as hybrid goes- my core(gs mo rai aig low) has been pretty much all electronic for a while -- im not sure how much more they will change. after hybrid comes, then it will be nms, then something else and on and on

on the other hand i remember january of 2002 when the boxes turned on in nasdaq and 1000s of traders perished or turned to nyse- i do think hydro may be right- this thing could get ugly

well see soon enough---but heck its football season!
 
Quote from Steelhead:

Im not excited about it. but i wasnt for every other
change over the last 7 years (bullets-liq quote- pennies-etc etc) but managed to adapt.

as far as hybrid goes- my core(gs mo rai aig low) has been pretty much all electronic for a while -- im not sure how much more they will change. after hybrid comes, then it will be nms, then something else and on and on

on the other hand i remember january of 2002 when the boxes turned on in nasdaq and 1000s of traders perished or turned to nyse- i do think hydro may be right- this thing could get ugly

well see soon enough---but heck its football season!
More...


Don't know if anyone posted this yet. Here are some of my thoughts/comments:

http://hybridtalk.nyse.com/archives/2006/09/concerned_about_sweeps_fees.php

http://hybridtalk.nyse.com/

Don
 
Quote from brandon12:

Nobody's talked about the 25 cent per 1000 shares nyse will be charging . that's an extra $500 amonth for somebody doing 100k shares a day
More...

that's news to me, can anyone elaborate on that? I use NX often to get out of positions, and I thought NX is free?
 
does anyone have a perspective on how hybrid will affect stocks with little volume? Stocks that maybe trade 500,000 volume a day, etc...? such as CME, FDX, etc... as compared to more lliquid stocks such as MO, AMD, etc...
 
Quote from Don Bright:

Don't know if anyone posted this yet. Here are some of my thoughts/comments:

http://hybridtalk.nyse.com/archives/2006/09/concerned_about_sweeps_fees.php

http://hybridtalk.nyse.com/

Don
More...

Don, I'm not thrilled about the fee either, but let's keep it in perspective vs. routing to ARCA or Nasdaq.

Taking liquidity:
ARCA: .001/share
Nasdaq: .0007/share
NYSE: .00025/share

Adding:
Arca: 0
Nasdaq: 0
NYSE: .00025/share (if I understand the fee correctly).

I don't see how this will affect my routing decisions all that much based on the above fees.

Now the decision to have large orders walk the book rather than sweep it will affect how I route. Why let orders rest at NYSE if there's no real shot at price improvement anymore.
 
Quote from FastandFurious:

that's news to me, can anyone elaborate on that? I use NX often to get out of positions, and I thought NX is free?
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It aint free but it´s still a lot cheaper than hitting the ecns...

btw arca routed is way to expensive, I only use it to hit MWSE...
 
Quote from Shreddog:

Don, I'm not thrilled about the fee either, but let's keep it in perspective vs. routing to ARCA or Nasdaq.

Taking liquidity:
ARCA: .001/share
Nasdaq: .0007/share
NYSE: .00025/share

Adding:
Arca: 0
Nasdaq: 0
NYSE: .00025/share (if I understand the fee correctly).

I don't see how this will affect my routing decisions all that much based on the above fees.

Now the decision to have large orders walk the book rather than sweep it will affect how I route. Why let orders rest at NYSE if there's no real shot at price improvement anymore.
More...


what does it mean to have an order walk the book vs. an order to be sweeped?
 
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