Just noticed that BATS charges the same fee to remove as it gives to add (0.0029)... Did I read that right? How are they making money if there's no spread between givers/takes of liquidity?
Only their highest volume customers will get the .0029 rebate, most people will get .0025 for adding. http://batstrading.com/FeeSchedule/
Ahhh.. there's the catch. And that makes a lot more sense now. I was just noticing the rate they posted on their website's main page, which doesn't go into that level of detail.
I'm not reading the website... but I think you get an extra .0002 if you are the NBBO setting Of course I know of know prop firm that actually pays that out. They usually just keep that extra w/ out telling you
Mm... so if you add to the current inside quote (NBBO) then you'll get the extra amount? Interesting.. I know what I'm checking tomorrow morning at the firm. *evil laughs*