NYSE OpenBook billing?

Discussion in 'Retail Brokers' started by alanm, Jul 3, 2002.

  1. anyone know much about the NYSE liquidity quote or how much it costs to have access to it? I checked a while back and it was something obscene- like a few thousand/ month. That would definitely be an asset, to have a better picture of the real interest.
    #31     Mar 6, 2003
  2. bcb23


    For the distributor (reseller) of the data, NYSE charges $5K/month (this might be what you're referencing). End user fees are $50/month from NYSE.
    #32     Mar 6, 2003
  3. Actually, many high volume traders won't even look at the open book and don't trust the "open crook." There are still many games with it, by the specialist, daytraders and institutions. Also, many high volume traders use bid/ask as only one minor tool in their trading.
    #33     Mar 6, 2003
  4. bcb23


    Quote from nitro:

    $50/M. I have it set up so that they charge me quarterly I think.

    There are no software fees. My OpenBook is thru Interactive Brokers, and I just right click on a line that has NYSE routing and a menu pops up "Show Market Depth." A new window appears that displays the book.


    I'm considering opening an account with IB. Are they reliable? How many times do they go down in a year? I want to use them to trade futures and options both domestic and international.
    #34     Mar 6, 2003
  5. nitro


    IMHO, the answer as to whether IB is reliable is a resounding YES. One and a half years ago they had bad reliability problems. Since then, I would say that their reliability is stellar by comparison to 99% of the other brokers out there, pro or retail.

    In spite of that, I have three brokers that I use in a round-robbin type fashion. I keep them because I do not want to be stuck in a position or have to call someone in an extreme situation.

    As far as being able to trade many markets under one account, that is where IB REALLY shines.

    IB has it's problems, e.g., no "indications," no "bullets," etc, but if you do not need these things, it is one of the best brokers in existence for the retail trader.


    #35     Mar 6, 2003
  6. bcb23


    Thank you. I've heard some older reports that the service and quality were questionable. It's great to hear that it's no longer an issue.
    #36     Mar 6, 2003