sec fees

Discussion in 'Trading' started by traderpro, Sep 21, 2005.

  1. What should it be per 1,000 shares. Thanks and is it true they may drop in oct? Or is it a myth.
  2. alanm

    alanm says:

    "In addition, effective Oct. 1, 2005, or 30 days after the date on which the Commission receives its fiscal year 2006 regular appropriation, whichever date comes later, the Section 31 fee rate applicable to securities transactions on the exchanges and certain over-the-counter markets will decrease to $30.70 per million from the current rate of $41.80 per million."

    It's per dollar sold, not per share. Multiply the sale proceeds by 0.0000418 and round up to the penny (e.g. Sell 100 shares at 25.00 = ceiling($2500 * 0.0000418) = $0.11).

    They almost never change rates on the specified date. Congress drags their feet a couple months before passing the budget, which delays the SEC's funding.