MB Trading commissions

Discussion in 'Retail Brokers' started by wizardx, Jul 27, 2005.

  1. wizardx


    I see that the commission rate is 1 cent per share for first 500 shares. However, there is a NYSE specialist fee of 0.9 cents under miscellaneous fees.

    Does this mean the commission rate for NYSE stocks is actually 1.9 cents per share for trades less than 500 shares?
  2. ddmc


    its .009 not .9
  3. ddmc


    I think if you select order type Day-NB from the MB Navigator, you avoid the fee.
  4. MBT-Steve

    MBT-Steve Sponsor

    DDMC is correct. The NYSE has what is called billable and non-billable. Billable is when you hold a limit posted on the specialist book for 5 min or longer. If you do this the NYSE charges the additional .009 per share. We have built a nice feature to help you keep your costs lower that if you send your order on our system as "Day-NB" then we will replace the order before the 5 min time is up therefore not paying the .009. If for any reason you wish to keep the order live without replacing it within the time intervals then MBT passes through the specialist fee to you. Hope this helps.