The Senate passed a bill to reduce SEC securities trading fees. "The bill will save investors $14 billion over ten years. Currently investors pay over $3 million each trading day in excess transaction fees, according to lawmakers." http://www.marketwatch.com/news/sto...w&guid={675611BD-2460-41D2-AC29-230061E209E3}
Now how about a bill to stop the exchanges from charging fees for real-time data. I think it is an abuse of monopoly power. A think that really burns my butt is that US traders get Canadian real-time data much cheaper than Canadians do. What a rip-off.
The article acknowledges what we all know, SEC fees rape us. The article states the SEC fees are 6 times more than what they were set up for. That tells me that the fees should be cut by 5/6s, but that wont happen. Hopefully they will be cut by 2/3s or atleast a half. Does anyone know the new fee formula? Currently, SEC fees add about .50 cents/1000 shares to my daily costs.