You mention SNET broadcast a couple of times, but it wasn't used in Cyber's example fee calculation. The ECN's would've been hit via Selectnet preference. Anyway, the example was Cyber's. Maybe they didn't have REDI direct and ATTN direct when they created the example.
Stepping out of these picayune details -- I recently decided to go with MBT rather than CyberX because I thought I might do a little better on commissions given my current and planned activity pattern. It's close enough that I could be wrong, however. I believe both offer responsive customer service. The third firm in my evaluation is Interactive Brokers -- one cent a share ($1.00/trade minimum), no other costs. They offer direct to five ECNs, Selectnet broadcast, and, for seclected stocks, direct to a market maker, MASH. However their software interface is, um, eccentric; there's no Selectnet preference; and parts of their system seem to be in what I'd call a beta test stage, 'though the firm and its parent, Timber Hill, have solid experience in electronic trading. |
