Did your fees go down and as of when. I.E i traded 50k total of a 140 dollar stock what should i pay? Thanks for your help.
Also to my understanding you only pay on the sell side so iam correct this way so 25 * 140 = 3.5 mill at 15.30 per mill i should pay $ 53.60
I just want to know what my sec fees should be. This from the sec site In addition, effective Oct. 1, 2006, or 30 days after the date on which the Commission receives its fiscal year 2007 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 $15.30 per million from the current rate of $30.70 per million. So what should i have paid for 50k total of a 140$ stock. My ticket charge is not the question here just what i should pay in sec fees. Thanks iam not sure of the formula iam new to trading
You only pay sec fee on the sell side. I wasnt aware they came down allready. From the sec site says from oct1 to the latest nov1 2006.
Extension of Current Rate for Fees Paid Under Section 31 of the Exchange Act NASD would like to notify its members that the Securities and Exchange Commission ("Commission") has announced recently in Fee Rate Advisory #5 For Fiscal Year 2007 that the continuing resolution they have been operating under will continue through February 15, 2007. Therefore, fees paid under Section 31 of the Securities Exchange Act of 1934 will remain in effect at their current rate of $30.70 per million. Furthermore, the Commission has announced that thirty days after the date of enactment of the Commission's fiscal year 2007 regular appropriation, the Section 31 fee rate for securities transactions will decrease from the current rate of $30.70 to $15.30 per million. NASD will continue to notify member firms through Member Alert on any updates concerning the enactment of the Commission's regular appropriations including the final date for the implementation of the new rate of $15.30 per million. If you have any questions about this Member Alert, please contact Rob Renner, NASD Senior Director of Accounting Operations, at (240)-386-5303. Looks like feb 15th they will come down
traderpro: Thanks for the update. Although the decision to reduce the SEC fees was taken earlier this year, the reduction is not yet effective, according to these links: http://www.nasd.com/RulesRegulation/MemberAlerts/2006MemberAlerts/index.htm http://www.nasd.com/RulesRegulation/MemberAlerts/2006MemberAlerts/NASDW_018082