Instinet fees

Discussion in 'Trading' started by samtrader, Apr 2, 2002.

  1. I have a question for the traders that are currently trading Nasdaq stocks, as customers, not as "prop" traders.
    Did your firm recently lower your INCA fees after Instinet announced lowered prices a few weeks back?

    I would really appreciate if you could also post which firm you trade with. If you can't post it here (in this thread) then please send me a private message.

    The only firm I know, that is currently passing on the new INCA fees on to their customers, is "SonicTrading".

    Here's an article on the new fees/rebates:

  2. The new rate has not been passed on at my firm either. I still have not heard of any talk about it being lowered yet or what the new rate would be. I trade with Andover. I currently pay 6's whether I take or add liquidity.

    I have heard thru the grapevine that protrader will be lowering their rate to what was quoted by instinet, but I don't think it has officially announced it yet.
  3. hans130


    I trade with Pointdirex and they just lowered their fees this month.
  4. This is to any Echo traders out there. I noticed that the Echo website indicates .00625 per share traded on INCA,but the article mentions that INCA charges .003 per share for taking liquidity and .002 per share is rebated for adding liquidity. Why is there a difference between Echo's rates and INCA's rates?
  5. Since you use INCA,can you tell me if INCA is a proactive ECN like ARCA(trading with all ECN's and market makers),or does INCA only trade(when taking liquidity)with other INCA orders?
  6. hans130


    What is wrong with making a little money on the side. They have expenses to support the product for you. They should keep a little to pay for expenses!
  7. You are telling me that you havn't used INCA. No Inca is not proactive like redi or arca. Inca is a force that must be reckoned with in the market and scalpers will use a nice percentage of inca usually.
  8. Nothing is wrong with making money on the side, but paying 5-10 times the published rate for a pass through ECn is bull. Say an big broker pays the published rates(which I doubt) and they take and add liquidity with a 50-50 avg rate, then their total cost is about .50 cents per thousand incas traded. That is one hell of a markup.
  9. mgkrebs


    The Echo website states that they do not mark up ecn fees. In fact they give the Island rebate for adding liquidity back to the trader. I'd be willing to bet that they have simply not yet updated the instinet fee posted on their site.
  10. #10     Apr 2, 2002