CyBerBroker has reviewed and adjusted its Fee schedule based on customer feedback plus comments and input on this thread. I appreciate the time and thought that all of the contributors made on this topic.
Commissions Fees:
Effective July 1st, the Ticket Charges shall start at $19.95, not $23.95 as previously proposed. This rate will apply to all tickets up to 499 per month and shall decline to $14.95 based on volume.
Data Service Fees:
The $300 per month data service fee shall apply to all traders doing up to 99 tickets per month and shall reduce to $200 per month for those traders doing between 100 - 199 tickets per month. Thereafter, data service fees shall be waived.
ECN fees
There were errors in the Fees shown on the CyBerBroker WEB site. In addition, there are changes that should also be noted, based on fee changes made by the ECNs themselves which had not yet been reflected on the fees schedule on CyBerBroker's WEB site
The per share ECN fees for orders entered via SelectNet are:
Attain (ATTN)..........................$0.015 per share *
B-Trade (BTRD)......................$0.015 per share **
Instinet (INCA).........................$0.015 per share
Terra Nova (TNTO).................$0.005 per share
Island (ISLD)............................$0.015 per share
Spear Leeds (REDI).................$0.015 per share
Notes
* This reflects orders directed via SelectNet, which shall be reduced upon the start of direct order routing to Attain by CyBerBroker.
**Once the lower BTRD fees, at $0.005 per share have been notified to CyBerBroker and take effect, these shall be passed on to CyBerBroker clients
Island Direct (DATK)
Earlier this month Island announced a change in their fee policy. Where an order adds liquidity, $0.001 is rebated by Island. We are passing the benefit of this on directly to CyBerBroker clients. In the event that the order removes liquidity, the Island fee shall be $0.0025
Split Fills:
CyBerBroker's policy remains that where there is a split fill within five minutes that the transactions are bundled and treated as one ticket, plus the associated third party costs.
Per share versus per ticket charges:
CyBerBroker has an open mind on this topic and shall revert to its current customers to determine which of the two mechanisms would work best. The outcome has to be one or the other, not both, and either would work for CyBerBroker.
Please note that CyBerBroker is currently in the process of updating the Fee pages. We are passing the benefit of this on directly to CyberBroker clients on the CyBerBroker WEB site to reflect these changes, updates and corrections, and these should be complete and posted on the site by end of play today.
CyBerBroker's web site can be accessed at cyber-brokerage.com
PRB
CEO
CyBerCorp Inc
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