Whats the per share cost to use BankofAmerica/Merrill algorithms?

Discussion in 'Order Execution' started by western, Jul 9, 2011.

  1. western

    western

    I just switched to a new broker that uses Instaquote, the order platform for BankofAmerica/Merrill.

    Included in the platform are many of BoA's algorithms like Ambush, Instinct, VWAP, etc.

    My broker is currently charging me $0.009/share to use the algos and I'm wondering if that is a fair price.

    I'm very familiar with ecn pricing but I don't really have any insight on how much algos should cost. Any ideas?
     
    #1     Jul 9, 2011
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  2. therealdeal

    therealdeal

    I hope your not serious with .009 (9.00 per 1000 shares)???

    I am running my algo program paying .13 cents per 100. (1.30 per 1000) although it does substantial vol.
     
    #2     Jul 9, 2011
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  3. lionline

    lionline

    90 mils for VWAP is too expensive.

    Needs to be much closer to 10.
     
    #3     Jul 9, 2011
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  4. western

    western

    0.0013/share doesn't even cover the ECN fees.

    I'm looking for input from people who have direct experience with BofA algos.
     
    #4     Jul 9, 2011
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  5. rmorse

    rmorse Sponsor

    I can give you access to DASH. An excellent algo and include it in my pricing. Send me an PM if you'd like to talk.

    https://www.dashfinancial.com/

    Bob
     
    #5     Jul 9, 2011
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