NEW YORK, Sept 15 (Reuters) - NYSE Group Inc. (NYX.N: Quote, Profile, Research) will adjust trading fees on its electronic NYSE Arca trading system, trimming costs for trades sent with specific price instructions and raising fees for those without price limits, the Wall Street Journal reported on Friday. Under the changes, effective Oct. 1, NYSE Arca will charge 30 cents per 100 shares for orders without price instructions, tripling the old fee. Meanwhile orders with price limits now will get a rebate of 20 cents per 100 shares, the paper said. The changes do not affect New York Stock Exchange floor trades. The moves come as the NYSE, which merged with electronic stock market operator Archipelago earlier this year, tries to recover market share lost to archrival Nasdaq Stock Market Inc. (NDAQ.O: Quote, Profile, Research) and other electronic networks. The rebate for price-limit orders is designed to attract more rapid-trading investors to the system. © Reuters 2006. All Rights Reserved.
hey, that aricle is incredibly misleading... it sounds like all limit orders recieve rebates which is not the case. it depends on whether you are adding liquidity or removing liquidity... CUSTOMER NOTICE Date of Notice: September 14, 2006 Subject: NYSE Arca NYSE - Listed (Tape A) Pricing Change Effective October 1, 2006, NYSE Arca will implement a new fee schedule for NYSE Arca Listed Tape A equities (excluding ETFs): $0.002 per share credit for orders residing in the NYSE Arca Book that execute against inbound marketable orders $0.003 per share charge for orders that take liquidity from the NYSE Arca Book $0.001 per share charge for orders routed outside the NYSE Arca Book The new fee schedule is pending SEC Approval. For additional information, please contact your NYSE Arca Sales Representative. ©Copyright 2006 NYSE Arca. There's already a lengthy discussion going on here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=76837&perpage=6&pagenumber=1
Pretty irresponsible journalism. Make it appear that all limit orders even mktable limit will get paid.
so basically the same fees they charge on the nazdaq...... basically everyting will be a nazdaq in 6 months...with same fees just say that haha