IB or any retail firm and S.E.C fees

Discussion in 'Interactive Brokers' started by lsudaytrade, Oct 25, 2003.

  1. lsudaytrade

    lsudaytrade

    I trade equities.

    How does IB or any other retail firm handle S.E.C fees? How are S.E.C fees calculated?

    Thanks in advance..
     
    #1     Oct 25, 2003
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  2. lsudaytrade

    lsudaytrade

    SEC Fee: 0.0000468 x gross proceeds of transaction except for those transactions exempt from Regulation 240.31.

    Initial thoughts was thats near nothing. But when trading large volume intraday, S.E.C fees does add up in the long run.

    For instance, I shorted and covered 1K SNDK($75) 4 times on Friday. At ~$3.55 per sale, that amounted to $14.2 for the day.

    I just recall reading somewhere that IB handles S.E.C fees differently?
     
    #2     Oct 25, 2003
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  3. gms

    gms

    IB says they absorb the fee.
     
    #3     Oct 25, 2003
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