Reg NMS fees

Discussion in 'Prop Firms' started by Tracy McGreedy, Dec 30, 2009.

  1. I've traded in several money up prop firms, and noticed that some firms charge a "Reg NMS fee" of almost $0.003/share when routing to nyse or arca and then some firms don't. and when I say don't, I mean they do charge something, but some small token fee.

    The firms I traded at that are registered via NASD/FINRA seem to have this huge reg nms fee and firms at CBSX or PHLX don't.

    anyone else notice this? Seems really high when your exchange fees are twice as much as your broker commission rate.
  2. Depends on whether you're being re-routed to a better price destination. Theoretically, you should be saving money net. (Never sure with sub-pennies). Some traders use "DNS" (Do not Ship) orders on NYSE to avoid these additional fees.