Regulatory Fees

Discussion in 'Prop Firms' started by exoticoption924, Dec 31, 2009.

  1. I'd like to find out the exact regulatory fees people are paying. I think its supposed to be the same for every trader and brokerage firm, but I'd like to make sure that I'm not missing something.

    The two regulatory fees of which I am aware are the SEC fee (based on the total dollar value of stock SALES) and Clearing fees (20 cents per 1000 shares).

    What is everyone paying for these fees, and what other fees are there? A breakdown would be much appreciated.

  2. GregoryG


    clearing fee is not a regulatory fee lol.

    its another name for "commission."

    maybe they are passing on the fee from your broker's clearing with marking it up a bit, maybe its just a clever way to make extra 20cents, but... that's what it is.

    In reality, there are TONS of regulatory fees, that depend on a million things - the NSCC manual is 500 pages long that explains the different sort of fees. It is almost impossible to break them all down and automatically charge, so most brokers will either absorb, or charge a small fee to account for all.

    Also- the fees are different whether or the place is a B/D or clearing a firm.

    The main one besides the SEC budget, is the ACT.