- Equities Routing Fees
- Options Routing Fees
- Futures Routing Fees
| Please Note: |
Add = Orders that add liquidity to the Route | Remove = Orders that take liquidity from the Route
Routed = Orders that are routed through (executed by another market center or participant) |
| Executing Broker |
Route |
Order Route Fees |
| NYSE Arca |
ARCA |
Add = FREE
Remove = $0.0025
Routed = $0.004
Routed to NYS = $0.001 |
NYSE Arca -
Securities under $1 |
ARCA |
Add = FREE
Remove = $0.1% of principal amount of the trade
Routed = $0.3% of principal amount of the trade |
| NYSE Arca OTCBB |
ARCA |
$0.3% of the principal amount of the trade |
| Nasdaq |
NSDQ |
Add = FREE
Remove = $0.003
Routed = $0.003 |
Nasdaq -
Securities under $1 |
NSDQ |
Add = FREE
Remove = $0.1% of principal amount of the trade
Routed = $0.3% of principal amount of the trade |
| Direct Edge (EDGA) |
EDGA |
Add = FREE
Remove = FREE
Routed to NYSE & Remove = $0.0008
OTC Routed to NYSEArca = $0.0025 |
| Direct Edge (EDGX) |
EDGX |
Add = FREE
Remove NYSE, AMEX =$0.0026
Remove OTC, ETF = $0.0026
Routed to NYSE & Remove= $0.0008
OTC Routed to NYSEArca = $0.0025 |
Direct Edge (EDGX) -
Securities under $1 |
EDGX |
OTC Add = FREE
OTC Remove = $0.2% of principal
OTC Routed = $0.3% of principal
OTCBB Add = $0.2% of principal amount of the trade with $0.25 minimum
OTCBB Remove = FREE |
| Direct Edge (EDGX) OTCBB |
EDGX |
Add = $0.002/share with $0.25 minimum
Remove = FREE |
| Bloomberg Trade Book |
BOOK |
$0.005/share |
| Listed Routing (MLX) |
MLX |
NYSE = $0.0008
AMEX = $0.0008
Billable = $0.01
|
| NITE |
NITE |
NYSE, AMEX, OTC = $0.003
OTCBB = FREE |
| CITIBANK |
CGMR |
$0.001/share |
Removing liquidity refers to lifting an order from an ECN or exchange. For example, if the bid/offer on a stock is 15.25 - 15.50, routing a market order to buy will execute a trade at the offer ($15.50) this is removing liquidity. Alternatively, in the same example, routing an order sell shares at a limit price of $15.25 or lower would result in an execution at the bid of $15.25 and would also be removing liquidity.
Adding liquidity refers to posting an order to an ECN or exchange. In the same example above, a limit order is routed to buy at $15.40. This would be routing an order outside the best offer and would not be immediately executed. This order has then posted.
Being routed through refers to when an ECN or exchange is not able to execute your order within their book, but instead routes the order to another market center for best price execution.
|
| SEC (sales only) |
SEC |
0.00000560 (multiplied by the total sales proceeds) |
| Trade Activity Fee (sales only) |
TAF |
Equities = $0.075 per 1,000 shares, $3.75 max |
| Executing Broker |
Route |
Order Route Fees |
| {ExecutingBroker} |
{Route} |
{OrderRouteFees} |
| Index Option pass through |
Exchange |
Exchange Fees |
|
CBO |
$0.40 per contract (index options only) |
|
PHS |
$0.40 per contract (index options only) |
|
ASE |
$0.15 per contract (index options only) |
Option Cancellation fees:
ASE: $1.00 (If the total number of order cancels is higher than the total number of orders executed per day, per account, a $1 fee is assessed on the number of orders cancelled that exceeds those executed).
PHS: $1.10 (If the total number of order cancels is higher than the total number of orders executed per day, per account, a $1.10 fee is assessed on the number of orders cancelled that exceeds those executed).
CBO, ISE: $1.50 (If the total number of order cancels is higher than the total number of orders executed per day, per account, a $1.50 fee is assessed on the number of orders cancelled that exceeds those executed. All options orders executed in the same series on the same side of the market at the same price within a 30 second period will be aggregated and counted as one executed order for the purpose of this fee.)
BOX, NYS: No cancellation fee.
|
| Trade Activity Fee (sales only) |
TAF |
Options = $0.002/contract |
| Please Note: |
| NFA fees (every contract) |
$0.02 per normal sized contract, per side
$0.02 per mini sized contract, per side |
| Product |
Exchange |
Exchange Route Fees |
| {Product} |
{Exchange} |
{ExchangeRouteFees} |
|
