Comission and Bullet Rates

So, Ticker, do I understand correctly that you're paying:

0.0035 NYSE
0.0065 INCA take liquidity
0.0035 INCA add liquidity
0.0065 ISLD take liquidity
0.0015 ISLD add liquidity

?

I'll note that the 0.003 rate for INCA is better than the published best rate of $0.005. Do you really get the liquidity "rebate" (no commission) here too, or do you pay 0.0065 regardless of add/take?

Any other fees, like SEC fee, order cancel/modify fees, per-ticket clearing fee or minimum charge?

 

I thought that was oximoronic, where can you get bullets retail?

 

http://www.pointdirex.com/live/en/ns/html/welcome_elitetrader.htm

 

Who pays those rates?? They seem high. Go to the ISLD web page and they show cheaper

 

Alanm,

Where did u get these quotes? I never quoted ecn rates, but here are the rates I pay.

BTRD $0.0064
BRUT $0.0055
ARCA $0.0035
INCA (Take) $0.0030
INCA (Add) ($0.0020)

ISLD is the same as inca

If i add liquidity my commissions work like this $3.50 charge -$2.00 ecn rebate net $1.50

I hope this is more clear for you.

 

Quote from TickerWatcher:
Where did u get these quotes? I never quoted ecn rates, but here are the rates I pay.

BTRD $0.0064
BRUT $0.0055
ARCA $0.0035
INCA (Take) $0.0030
INCA (Add) ($0.0020)

ISLD is the same as inca

If i add liquidity my commissions work like this $3.50 charge -$2.00 ecn rebate net $1.50

I got the INCA rates from http://www.instinet.com/equity_marketplace/BD_schedule_1102.pdf , based on the Listed Shares section. My schedule was meant to show what the total charge ("commission" + ECN) is for trading listed stocks (non-ETF) on the various routes.

I assume the rates that you showed are for Nasdaq and ETFs. Are they really the same for listed stocks?

Is there a per-ticket minimum?

My point in poking at the details, as I said before, is that a single number (like 0.0035) can't give the whole story - it depends on what and how you trade.

 

Yea, I only hit the ecns on etfs and that is what they charge me.

I stated in a post a few months ago to lower costs the trader has to bypass the middle man. Use a broker that seff clears. Going through a broker you have to add his markup so they can make a profit.

 

No ticket fee either.

+ sec fees

Cancel for soes I guess, but I don't trade NAZ.

 

what type of volume you do to get these rates.

 

What rates are new traders getting out there at prop firms? Is anybody coming out of college and getting $.0075 or the like? Or do all firms pretty much start you at $.01 per share?????