NYSE specialist fee

How much does it cost be by or sell 1000 shares on NYSE? I saw on IB unbundled commissions it is 27.5 cents. Is this right? Pay 27.5 cents each way as an ECN fee on NY?

 

That is a DOT fee, and it depends on which DOT provider you use. It also depends on wether or not the specialist then routes your order out once he gets it, as per REG NMS, this of course will cost you much more!

 

I believe it's 27.5 cents per Thousand shares, not per hundred (geez, I hope so, LOL).

Don

 

is that all that should be charged as far as ECN fees go? 27.5 cents per 1k

 

This should help....


http://www.nasdaqtrader.com/trader/tradingservices/productservices/pricesheet/pricesheet.pdf

 

by the looks of that, to me, I should be paying 27.5 cents per 1000 for orders sent to NYSE that execute on NYSE

 

Plus execution and clearing fees, of course.

You can "park" on ARCA and get paid, and "take" on NYSE and pay much (much) less.

Don

 

Along these lines...be careful about the new "re-routing" fess. Orders sent to the NYSE, and are routed to an ECN (because of the NMS rules, etc.), the NYSE is now charging 25 cents per hundred shares (more for ETF's), but waiving the 27.5 cents per Thousand share fee (thanks a lot, LOL).

They "should" have a "do not re-route" type of order class very soon.

Don

 

it depends how the order is sent, EDGEX for example with the RDOT is 0.000275 to add liquidity or remove from NYB, and routes out for 0.0026, thats the best rate you can get I think, if you have access use EDGEX RDOT, ISI from Merryl Lynch charges I think 0.0007 both ways on NYB, and to route out is 0.003 plus 0.0007 I think. Im not sure who sends it but with some firms NYSE charges 0.0005 to add or remove, 0.003 to route. Plus no matter what on ETS any order over 5000 shares on NYB adding or removing has a billable fee of a 0.01 which is ridiculous. The SEC fee to sell should be around $30.7 per million dollars

 

October 1st, the NYSE fees change. From 2.75 cents per hundred, for everything, it will be 8 cents per hundred for taking, and zero for parking. Obviously, we pay 30 cents to take on ECN's, and we get paid 20 cents to park on ARCA (Listed)....so we will be taking on NYSE and parking on ARCA whenever possible. (Net getting paid that way).

Don