Serge, Does your sofware support routing to Direct+ / SuperDot ? If yes, how much are the fees ? If your retail clients are having trouble placing a trade because of computer problem or internet problem at their end and need to place a trade by telephone, are the fees still the same or will there be an additional fee for phoned orders. Are there fees for mailing confirms and monthly statements ? Thx P.S. Serge, you should consider sponsoring an ET Chat Room Session for Q&A where ppl can ask you questions.
for listed, absolutely there is no point to use routing. The routing is for NASDAQ stocks. inet has a contract with NASDAQ. Current Listed ECN fees: (Fee/Rebate) inet: 0/0 ARCA : 1/0 I am trying to contact Brut to get the latest pricing as well - however we do not mark up or mark down those rates. There are no additional fees for Dot. The reason the listed commissions are higher is because of two reasons: 1) We currently do 1.5 - 2% of nasdaqs trading volume and our costs are really low of NASDAQ 2) We pay on a per share basis for the listed. Once we do more listed volume, expect the costs to come down, and so will our rates
Our software supports both Direct+ and SuperDot and there is no extra fees for that. Our retail clients call call our trading desk to place an order: broker assisted orders are $20.00 . Confirmations & statements: Electronic daily + monthly statements are free of charge Mailing: $2.00 per mailing Thanks
We get charged $50 Access + $20 from the vendor. $70.00 is our current cost. When we become vendors, we will drop the price. Currently this is what we are being charged. We are not making money on this.
Serge On your website it says you're an SIPC member. I assume that means that retail clients are protected up to $100K in cash, $400K in securities?