Data/ECN Fees

Order Fees

ECN's (Electronic Communication Networks) - Routes that internally match buy and sell orders electronically. Orders are generally quicker to execute, but will incur either a charge for removing liquidity or credit your account with a rebate for adding liquidity.

Market Makers - Market makers may make money by trading for clients and their own accounts. These routes are generally slower to execute than ECN's, but typically are free to route to.

ECN Fees

	Add Liquidity - Rebate	Remove Liquidity - Charge
ARCA	$0.002 per share	$0.004 per share
ARCA - PMKT (RealTick only)	$1.00 per ticket +/- normal ARCA charges	$1.00 per ticket +/- ARCA charges
NASD	$0.002 per share	$0.003 per share
EDGE	$0.0022 per share	$0.003 per share

Market Makers

MNGD/PFSI	Free	Free
VFIN (Pinks/OTCBB)	Free	Free
VNDM	Free	Free

Exchange Routes

NYSE	.	$0.003 per share
AMEX	.	$0.005 per share

Options Routes

MLO	Standard option rates of $5.00 + $0.95 per contract
BEL	Standard option rates of $5.00 + $0.95 per contract

Data Fees

Dow Jones News	$100.00 per month
CME Mini Quotes	$25.00 per month
CME Full Futures Quotes	$60.00 per month
CBT Quotes	$60.00 per month
NYMEX Quotes	$60.00 per month

Trading Platforms
CobraIQ
RealTick
Sterling
Venom Trader

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