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?
     
  2. 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.
     
  3. lionline

    lionline

    90 mils for VWAP is too expensive.

    Needs to be much closer to 10.
     
  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.
     
  5. rmorse

    rmorse ET 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