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Non-Tech : MB TRADING
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To: Tanner who wrote (991)9/4/1998 4:21:00 PM
From: gbh  Read Replies (2) of 7382
 
Actually they don't just charge a flat rate for ISLD orders. If your order adds liquidity to the ISLD
book, then they charge a $0.001 per share($1.00 per thousand)ISLD ECN fee. However, your order
removes liquidity from the ISLD book, then they charge you $0.0025 per share ($2.50 per thousand)
ISLD ECN Fee. The $0.015 per share charge ($15 per thousand) is if you access ISLD via
SelectNet by preferencing the ISLD MarketMaker.

Tanner, I still don't understand this. Are you saying that if you buy on ISLD the fee is $1/thousand and that if you sell on ISLD, the fee is $2.50/thousand? What route would these orders take if not SelectNet? And why does Cyberbroker refer to this as DATK? DATK is a marketmaker, and has nothing to do with the ISLD ECN (as explained to me by Datek Online brokerage).

Also, where do they come up with the $15/thousand for SelectNet preferernce of ISLD marketmaker? ISLD is an ECN,not a marketmaker? I'm more confused than before. Sorry.

gary
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