BIllable VS non-billable orders

Discussion in 'Trading' started by AutomatedTRader, Jul 10, 2003.

  1. WHATS THE DIFFRENCE between Billable NYSE orders and NOn billable NYSE Orders???????????
     
  2. If it's a live order at the specialist's post for more than 5 minutes, it's billable. They ding you for another cent a share on those, but not all firms pass it on. At Echotrade I paid it, at Assent I don't, don't know why.
     
  3. md2952

    md2952

    On redi-plus there is a feature that can be added that will cancel the limit order,and re-enter the same order after 4min 59 sec in order to avoid the extra penny,,,it is called RLD....cheers
     
  4. FYI - Coming soon! Echotrade will have their order platform resend orders at the 4:30 seconds to avoid the billable pass-on-to trader fee. This should role out next week from what I hear.

    Nevertheless, it sucks to lose your place in que when you have to resend the order!

    I still can't figure how there are sooooooooooo many differences between firms. Some charge, some don't. Some give incentives, some don't. (Republicans vs. Democrats mentality) Some negotiate, some don't. Some think your an idiot, some don't.