Discussion in 'Trading' started by mathewt, Apr 7, 2002.

  1. mathewt

    mathewt Guest

    Does anyone know the official NYSE/AMEX rules for when an order is considered Billable?

    According to most firm's price schedules a billable is only charge when the order takes more than 5 mintues to execute.

    However I have also been told you are charged for a billable if you receive price improvement (only listed on some sheets).

    Ameritrade (who I don't use) lists billable orders at:

    Billable ($0.0125/share):
    AMEX: any order 2100 shares or more; any short sell order
    NYSE: any order executing in more than 5 minutes

    To add to the confusion I understand there are special rules for billables on QQQ.

    I see this fee add but am never provided a breakdown.

    Does anyone have any insight on this issue.