Arca fee to short ?

Discussion in 'Order Execution' started by mcelitetrader, Jan 31, 2007.

  1. mcelitetrader

    mcelitetrader ET Sponsor

    I put out an arca offer on the NYSE one penny into the money. I was filled instantaneously....I was charged the 2$ arca remove liquidity ecn rate. Any ideas.....?

    How is it possible to take liquidity on the NYSE with the uptick rule in place? Am I missing something?
     
  2. B1010

    B1010

    what stock was it?? Maybe you shorted one of the SHO pilot stocks which don't need an uptick to short. But if thats not the case I have no idea.
     
  3. B1010

    B1010

    ya that shouldn't be... maybe your trading software marked the position as a long sale not a short sale.. and in that case you may get a short sale violation also..
     
  4. Are you sure you were charged and not credited? The rate for removing on 1000 shares is $3, not $2 - but when you put an offer or bid out, and are taken out, you are given $2.
     
  5. mcelitetrader

    mcelitetrader ET Sponsor

    Thanks for the replies....I was being charged 3 bucks for the removal of liquidity (I earlier said 2). I have straightened out my order execution and everything is now correct. Thanks for the help and for all of the answers.

    THIS is why elitetrader is a great forum. Real answers with no sarcasm...Im actually quite impressed.