SEC Approves ArcaBook Fees

The Securities and Exchange Commission (SEC) last week approved
NYSE Arca's proposal to begin assessing fees for the ArcaBook data
feed. Accordingly, ArcaBook will transition to a fee-based service
on November 1, 2006. ArcaBook customers will need to be on the NYSE
contract structure and report market data usage into NYSE for the
month of November and all customers will receive invoices based on
November reporting. Effective November 1, 2006, ArcaBook service
for those datafeed customers who have not completed necessary
paperwork with the NYSE will be terminated, and all display device
subscribers must have Subscriber Agreements.

As noted in prior communications, customers of the ArcaBook
datafeed (direct or indirect) will be assessed a fee of $750/month
for each set of four server logons. Display devices will be
assessed a fee of $30/month per display for professional
subscribers and $10/month per display for non-professional
subscribers with access to ArcaBook data for all securities. Please
note that the SEC did not approve NYSE Arca's proposal to offer a
fee discount to subscribers viewing only top-of-book prices derived
from the ArcaBook data product. As a result, these displays will be
assessed at the full ArcaBook display fee.

 

what are we talking here?
$187 bones a month per user?

 

I am not sure what to make of this...but to me it does not seem good

 

So it's $10.00/month for the non professional? Who pays the $750/mo ?

-Guru

 

it's not good.

so if island wants to charge for its book, and all the other ECNs charge, and the brokerages charge - but waive it for each other...

the average investor - the one ARCA claimed it wanted to give 'greater visibility' - gets f*cked.

 

Good question...who pays the 750 bucks.....I feel like I am getting raped every which way.....

 

It might not be as bad as i thought

Starting November 1,
2006, ARCA will charge $10/month to view the Arcabook. This means
that if you want to see ARCA quotes in your trading platform, you will
be charged $10/Month. This fee is optional. If you opt out, you will be
unable to view ARCA quotes through the trading platform

 

sec is really a shitty org, what's stoppin' all other ecns from chargin' a fee as well...avg investor will have to pay 100+ bucks a month just to see quotes...pathetic.

 

So do we have to fill out paperwork so that our arca quotes arn't shut off come November 1st? The way I read this we do?

Effective November 1, 2006, ArcaBook service
for those datafeed customers who have not completed necessary
paperwork with the NYSE will be terminated, and all display device
subscribers must have Subscriber Agreements.

If so, where do we complete this necessary paperwork?

-Guru

 

yep