Its not per share, it is assesed on the value of the trade on the sell side. The rate currently is .0000418 per dollar. $10,000 trade is 41.8 cents $1,000,000 trade is 41.8 dollars It is going down i believe to around $32/mil (not sure but something like this) on Dec 22. 0.0000333 is the rate in effect prior to December 28, 2001 0.0000150 is the rate effective December 28, 2001 0.0000301 is the rate effective April 1, 2002 0.0000252 is the rate effective March 22, 2003 0.0000468 is the rate effective April 1, 2003 0.0000390 is the rate effective February 22, 2004 0.0000234 is the rate effective April 1, 2004 0.0000329 is the rate effective January 7, 2005 0.0000418 is the rate effective April 1, 2005
Its going down to $30.70 per million. This will be nice as it will mean an extra 200 bucks a month or so in my pocket which fully pays for my internet/other services.
What is a good site that keeps track of this info. I tried navigating the SEC.gov but the language there is insane. I even called the SEC a few times. Any ideas?
http://traderstatus.com/secfeerates.htm has the same list that Szeven posted. It also has links to the SEC site where the Fee Rate Advisories are posted.
I know a perfect site....its at www.elitetrader.com Just post a question like "what is going to be the new SEC fees"...theres always someone here that knows Much easier than navigating the SEC site
That is nice, its a serious money saver, I pay 2k in SEC fees last month, which isn't much comparetively but it'll put a few hundred in my pocket.
heck on days i trade goog sec fee's are much more than my commissions when i had even 50% liquidity. the sec fee to sell 100 goog is $1.75 . thats outrageous