Whats the per share cost to use BankofAmerica/Merrill algorithms?

W

western

I just switched to a new broker that uses Instaquote, the order platform for BankofAmerica/Merrill.

Included in the platform are many of BoA's algorithms like Ambush, Instinct, VWAP, etc.

My broker is currently charging me $0.009/share to use the algos and I'm wondering if that is a fair price.

I'm very familiar with ecn pricing but I don't really have any insight on how much algos should cost. Any ideas?
 
I hope your not serious with .009 (9.00 per 1000 shares)???

I am running my algo program paying .13 cents per 100. (1.30 per 1000) although it does substantial vol.
 
Quote from therealdeal:

I hope your not serious with .009 (9.00 per 1000 shares)???

I am running my algo program paying .13 cents per 100. (1.30 per 1000) although it does substantial vol.
More...

0.0013/share doesn't even cover the ECN fees.

I'm looking for input from people who have direct experience with BofA algos.
 
Quote from western:

I just switched to a new broker that uses Instaquote, the order platform for BankofAmerica/Merrill.

Included in the platform are many of BoA's algorithms like Ambush, Instinct, VWAP, etc.

My broker is currently charging me $0.009/share to use the algos and I'm wondering if that is a fair price.

I'm very familiar with ecn pricing but I don't really have any insight on how much algos should cost. Any ideas?
More...

I can give you access to DASH. An excellent algo and include it in my pricing. Send me an PM if you'd like to talk.

https://www.dashfinancial.com/

Bob
 
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