When did EDGX drop ECN Rebates? Broker sent email saying to route elsewhere!

R

RabidTrader

Hi, I do over 5 million shares a month in stock volume, my favorite ECN is EDGX because Citadel or Knight-Citadel use EDGX. It's the best way to capture the flow of their orders and recently my Broker said EDGX was going to charge for "postings" and charge more for "taking", does anyone know why?

I was getting $.0024 adding liquidity, it adds up better than ARCA and INCA-ISLD(Nasdaq)'s $.002. On 50,000 share buy orders you get fat rebates!
 
I wonder if this has to do with throwing people off and making more money as a result. If people don't realize this happened (and it should take a while for the information to get out), HFTs effectively will be trading with inside info and people (or algos that were not updated) will be posting orders that should not be posted given the new price structure
Maybe I'm too much in the conspiracy camp but I don't know. It seems fishy
 
ARCA and Nasdaq provide $.002 vs their previous $.0023 and that's why I liked EDGX besides other reasons that make EDGX the perfect choice. Thank you for writing a post without insulting the authors, why sites like Elite don't throw off members whose contribution is insulting traders far beyond their ability crack's me up!
 
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