rebates showing 100 or hiding size

Discussion in 'Order Execution' started by hoff57, Apr 11, 2019.

  1. hoff57


    I trade nasdaq smallcap stocks and experimenting with keeping commisions down when its possible. question is;

    Do i get rebates if i hide my size / show 100 in size but my order is larger ?

    broker answered "yes but not guaranteed".. so is it only guaranteed if I show my real size?
  2. tm689


    You should get the rebate as long as your total size is executed on the ecn which has a rebate. Whether the order shows or not is irrelevant.
  3. dinn13


    Non-displayed liquidity may receive a rebate but not necessarily. It depends on the tier your broker is realizing.

    Here is the fee schedule:

    The low tier for non-displayed liquidity would not receive a rebate and if they do get a rebate it's significantly less than the displayed rebate and is dependent on the exchange the stock is listed on. So for example through my broker I get the high tier for hidden liquidity which for a nasdaq name would be 5 mils vs 31 mils for adding displayed liquidity on the same name.
    hoff57, MoreLeverage and qlai like this.