It appears that most ECN's are charging $3 to take and $2 rebate to add. I am certain that ISLD, INCA, and ARCA are following this model (except routing away orders). DATA is $3 to take and $1 rebate to add. ATTN & NXTD are in their own world, and TRAC is probably going to be phased out (IMO). The reason for the thread is that I would like feedback about what people are getting as a pass-thru on BRUT and BTRD. These two along with ATTN & NXTD do not publicly advertise their costs/rebates and I hope that someone could share their best cost/rebate on BRUT/BTRD. Thanks, Banker
Why do you think TRAC will be phased out? Don't they have the best rebate in the biz? I don't know that much about them but I'm just curious because I like the idea of getting paid $5/1000 shares.....assuming they actually do pay.
I agree that TRAC will probably be phased out like all the other ECN's that thought they could make money by over charging those who take liquidity out, and giving huge rebates on those that add liquidity. Other ECN's that have done this have been shut down/halted, the firms that supported this type of trading have been closed (Big in Texas and Florida), and those who survived are barely hanging on.
First of all: The deal with trac is this: They are a bunch of hasidic jews out of boropark who will pay only when they get paid. since we provide 60% of their total volume we negotiated a deal with them on a "no matter what basis" LSPD (marketxt) died. TRAC may too - although they may stay - they're a little more honset. BTRD has 1/9 rebate/fee BRUT has 1/5 standard and 2/3 negotiated (with us) ATTN has 2.5/9 and 3/9 if you work for them.
What firm are you with? If you're getting the .005 rebate no matter what then what's the problem? Do other people here find that TRAC pays less than the advertised .005 rebate?
We do NOT get 0.005 we get 0.002. That is the problem. The rest get on "if we get paid we'll pay you" basis I work at Genesis
WCOMTrader said: "They are a bunch of hasidic jews out of boropark who will pay only when they get paid." Is there a reason that their choice of religion and culture is related to this discussion? Given how flaky everyone has become, it seems a reasonable biz model to only pay if you get paid. It's routine practice in a lot of sales organizations to pay salesmen in this way (to keep them from lining up flaky deals).
What firms do they give a 4.75 rebate?? Also, as to adams post, the Hasidic Jew thing has nothing to do with trading, but to bring a general understanding of who they are. It was not meant in any derogotory sense (I, myself, am Jewish). Their office in Boropark seems very shady, that's all.
WCOMtrader said: Also, as to adams post, the Hasidic Jew thing has nothing to do with trading, but to bring a general understanding of who they are. It was not meant in any derogotory sense (I, myself, am Jewish). Their office in Boropark seems very shady, that's all. It still sounds derogatory, at least as though you're trying to use a stereotype to imply frugality and shady business practices. That you're Jewish makes that all the worse, to me. Barry Hertz is a pretty nice guy in my experience, generous to a fault at times.