ISLD adopts INCAs fees

Discussion in 'Order Execution' started by esc_trader, Sep 23, 2002.

  1. Scalpa


    I wonder how this will change the ECN's relationships to online brokers. Brokers like Datek, Ameritrade, RJT, etc., use Island for a majority of their Nasdaq orders.

  2. I think this makes (YIKES!) Nasdaq Supermontage the cheapest market when taking liquidity.
    .002 (Nasdaq) vs .003 (INCA/ISLD and ARCA)
  3. SuperMontage in = .002 (take liquidity) :eek:
    Inca or Isld out = .002 (add liquidity) :D
    ECN Fee Cost for trade = Zero :cool:

    Now I just have to figure out how to get my commissions to Zero!! :p

  4. Scalpa


    Andover Trading recently offered me $1 tickets in place of their per share commissions after I told them I make over 2,000 trades a month. They also offer full rebates from all participating ECNs (when adding liquidity of course).

    I'm thinking if enough of us signed up with one firm, we could orchestrate a killer "group buy." But, we'd all have to agree not to trade the same stocks. LOL.

  5. For someone new to the whole direct access trading gig you certainly learn fast. You're doing wonders for your credibility. The methods in which you fellas push your firm reeks of a cheesy infomercial.

    Junior Member

    Registered: Sep 2002
    Posts: 24

    09-21-02 06:33 AM
    Scalpers Using Direct Access Trading?
    I'm new to the whole direct access trading gig, but how can any of these direct access trading outfits be attractive to the scalper? Take MB Trading for example: $9.99 a ticket plus ECN fees? If you make 2000 trades a month, that would be $20,000 in commissions alone! You'd need to win on almost all of your trades just to break even or make little profits. It just doesn't seem like a scalper could make money at any of these DAT firms. Interactive Brokers, Cybertrader, and every other one I checked out seem to have similarly high commissions and ECN fees.

    Am I missing something here? If I am, "tell me where I'm wrong" (like Bill O'Reilly would say)!

  6. Ninja


    Look at this thread
    where he stated that he makes $40,000 a year with his job as a web developer and this would only be 15 percent of his total income and 85 percent comes from trading. So this "newbie" makes $226,000 a year with trading!

  7. Just to add.The .002 per share Supermontage fee is when you take liquidity away from MM's.When you take liquidity away from ECN's on Supermontage,the fee is .001 per share plus the ECN fee.

    By the way,does anyone know when INCA and ISLD will combine their order books into one?
  8. At least that's better than ISLD, they were going to charge their regular fee + Nasdaq's for routing to Supermontage via ISLD (.0019 + .002 = .0039). I wonder if this is going to be (.003 + .002 = .005) with their new pricing.

    Will certainly have to route directly to the ECNs. I couldn't see any reason to route to SM thru INCA/ISLD or vice versa, just added fees, and slower. As long as we keep the routing choices on our desktop, should be ok.
  9. Nice work Mr. Ninja.
    #10     Sep 24, 2002