ECN bonuses

Discussion in 'Order Execution' started by krazyanyway, Mar 18, 2009.

  1. As most of you already know, ECNs will sometimes bonify their rebates and reduce their fees when their client hits a certain volume threshold.

    Ex: ARCA : Greater than 30 million shares added and greater than 60 million shares total (added, removed, routed) in Tape ABC ... will get you a better rebate and cost you less to "take"

    My question is :

    How are these figures calculated ?
    Prop firm by prop firm ?
    Or by b/d ?
    Or clearing firm ?

    If Prop firm A and B and C all work with Penson for example, is the daily volume calculated from what goes through Penson as a whole or is each firm's volume taken on their own in the calculations ?

  2. d138


    by b/d
  3. Whoever has the membership or agreement in place with that particular exchange/ecn. It just depends on what memberships your firm has vs. what Penson has. If they are using all of pensons memberships then they will be off pensons umbrella.