Discussion in 'Trading' started by volcker, May 17, 2003.

  1. volcker


    What are the going ecn pass through rates. Inca island redi arca ect. I'm playing the find a new trading firm game and I'm wondering what high volume scalpers are paying these days. Also looking for liquidity pricing. I'm not looking for a firm I know enough people in the business to find that on my own, just looking for a median price that people are paying.
  2. fat_slut

    fat_slut Guest

    if you really know that many people in the industry or are a volume trader, you should know what you can get........
  3. volcker


    Doesn't surprise me that the only responce is a negative one. If the only thing you have to do is rip on someone else then go find a new message board. I know what the rates are where I live as well as 90% of the traders. I see no harm in expanding my knowledge of rates around the country.
  4. fat_slut

    fat_slut Guest

    then why dont you get off your lazy ass and use the search feature of this site- you will see that your question has already been answered in detail here, no one is interested in repeating info for someone too lazy to look before asking....
  5. EricP


    Most of the ECN's have their rates posted on their websites, I believe. The firm I use provides full 100% passthrough of both costs and rebates. I believe they are currently as follows:

    ISLD: 0.3 cps cost to remove liquidity
    0.2 cps rebate to add liquidity

    ARCA: same as ISLD, only 0.4 cps to remove liquidity for externally routed orders (i.e. ARCA order routing not filled on ARCA limit order book)

    INCA: same as ISLD
  6. Many broker-dealer are offering island Ecn free, and i belive
    you sould not pay for it anymore.
    Somtimes some order type are not available on island from some brokers, then i use ARCA, wich sould not be more than .2-3cps only. If you are paying more than these, you are being ripped off.

    For retail firm remote trades I think even IB's 1 cent per share
    is because of their features and services, other it is expensive,
    because most properitry firm now charge 0.5 cent.
    There are many retail firms like pointdirex, choicetrade...that
    offer low rates, with Island free and lower charges on other Ecn.
  7. Trade Futures, avoid all these bogus ecn, segragated markets, and crooked specialist. One true market, one inside market, one true fair value for that split second. Ececution is much better.
  8. ISLD,INCA,ARCA and TRAC all post their rates on their websites. Generally $3 to take and $2 to add (with some variations for listed.)

    BRUT,BTRD,ATTN and NTRD do not post their rates.

    BRUT and BTRD rates start at $5 to take and $2 to add. But there can be volume discounts which bring them lower if your firm can get them.

    NTRD and ATTN rates start at $9 to take and $2.50 to add, the same holds true on volume rebates for these ECN's. To hit a NTRD you must have a direct line and an agreement with them, so they're rebates are pretty stable. ATTN doesn't guarantee rebates since many firms do not wish to pay the high rate and their rate of collection is not as high as NTRD.

    I hope that clears things up.

  9. volcker


    Thanks for the help everyone. That is the same pricing that I'm being quoted with the firms where I trade. Hdot is the only other one that seems to vary. I know one firm who charges 0.1 cps and others that charge 0.25 cps. The others are some where in-between.
  10. fat_slut

    fat_slut Guest

    how is trading the Nazdog these days? anyone who is trading with these rebates making real money? can you have that much of an edge adding/ removing liquidity with the rebate/ fee structure??
    #10     May 18, 2003