How trade with ATTN and not pay the fee.

Discussion in 'Order Execution' started by trader963, Jul 26, 2002.

  1. I hear traders say the attn fee is too much so they dont want to trade with them.

    I use arca because I can hit the attn and not pay the attn fee. I'll use arca to hit any ecn that charges a higher fee than the arca.
  2. I would check into that. I know you can use REDI to hit marketmakers and other ECN's, you get charged the REDI fee plus additional fees for ECN's and SOES charges. This was the same with ARCA, they have smart keys, but you still end up paying that charge.

    Unless you have some type of different arangement w/commissions with a flat structure, your paying the charge. No way ATTN/LSPD would give REDI a special deal just cause its an ECN, more reason to charge them full price, why give an ECN part of the liquidity that you have to have?
  3. Yeah, Ive hit ATTn before with ARCA and got charged ARCA fees plus others (partial ATTN fees I assume)
  4. potrader


    good call 963

    I use arca all the time to hit them and only get charged the arca fee.
  5. How much is attn charging right now?
  6. .009
  7. 963,

    It is possible that your firm is marking up the Attn fees. I have heard of firms only paying .005 for ATTN. There are firms that charge 1.5 cents per share for LSPD even though it only costs them a third of that. Even worse, some firms weren't paying the ECN's at all, and keeping your money.
  8. these firms make ALOT of money marking up the ecn's.