NYSE rates rising on 8/1/2006?

Discussion in 'Trading' started by Casey30, Jul 26, 2006.

  1. Casey30


  2. alanm


    That isn't what it says.
  3. Casey30


    If you click on the specific press release I mentioned you will see what I am speaking of. The date of the release is on 6.30.06.
  4. rjv27


    "Transaction fees on NYSE-listed equities will be based on a fixed rate of 0.00025 per share rather than the current variable fee schedule."

    it sounds like they are just changing their pricing, not increasing.
  5. Now you know how much the big brokers are paying, what your prop firm is likely paying, and how much money they really make off of you!
  6. i know that at the firm im with , buying through the ny book is free adding and removing, aside from sec and what not,,, ecns cost, some rebate for adding liquidity, this is true that ny book will soon cost 25 cents per 1000shares to remove and i think add to. thats what i heard, and this article confirms.
  7. alanm


    Which may, or may not, be in lieu of the existing billable/non-billable/other structure. In any case, it's a really tiny fee at $0.25/1000, especially if it replaces the $0.01/share spec charge. As usual, their PR is just that - for the press - the details are buried somewhere.
  8. Casey30


    So you pay no base commission to trade NYSE, you only pay ECN's and sec fees? Where's the catch?
  9. LowRisk


    The prop firm I'm with just announced the new fee and they are passing it along to all traders.

    Now I'm a little confused about the old fee schedule since nothing was said about that. Did prop firms pay some sort of fees according to a variable schedule before and now they are using this new fee imposed by NYSE to make more money off their traders since prop firms are passing the new fee along but don't have to pay the old fees anymore?
  10. Casey30


    The old fees were as follows:

    Orders under 2,100 shares(system orders)-----No Charge

    Trades greater then 2,099 shares----------------.0023 per share

    From 5,001 to 690,000 shares---------------------.0001 per share
    #10     Jul 27, 2006