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Stock and ETF Fixed vs. Tiered Pricing Comparison Examples

Examples Tiered Cost Fixed Cost
Sell 30,000,000 Island NASDAQ Shares @ $5 Add Liquidity IB First 300,000 Shares: $1,050 $150,000
IB Next 2,700,000 Shares: 5,400
IB Next 17,000,000 Shares: 25,500
IB Next 10,000,000 Shares: 10,000
Island NASDAQ Fee (variable rates): (63000)  
Clearing Fee: 6,000  
Transaction Fee (0.0000278 * Value of Sale): 4,170 4,170
FINRA Fee (0.00056 * Commission): 23.49  
NYSE Pass-Through Fee (0.000175 * Commission): 7.34  
FINRA Trading Activity Fee: 8.30 8.30
FINRA Consolidated Audit Trail Fee (0.000072 * Quantity) 2,160 2,160
Total Fees (Rebate): ($8,680.87) $156,338.30
Sell 30,000,000 Island NASDAQ Shares @ $5 Remove Liquidity IB First 300,000 Shares: $1,050 $150,000
IB Next 2,700,000 Shares: 5,400
IB Next 17,000,000 Shares: 25,500
IB Next 10,000,000 Shares: 10,000
Island NASDAQ Fee (variable rates): 90,000  
Clearing Fee: 6,000  
Transaction Fee (0.0000278 * Value of Sale): 4,170 4,170
FINRA Fee (0.00056 * Commission): 23.49  
NYSE Pass-Through Fee (0.000175 * Commission): 7.34  
FINRA Trading Activity Fee: 8.30 8.30
FINRA Consolidated Audit Trail Fee (0.000072 * Quantity) 2,160 2,160
Total Fees: $144,319.13 $156,338.30
Sell 30,000,000 NYSE Shares @ $5 Remove Liquidity IB First 300,000 Shares: $1,050 $150,000
IB Next 2,700,000 Shares: 5,400
IB Next 17,000,000 Shares: 25,500
IB Next 10,000,000 Shares: 10,000
NYSE Fee: 90,000  
Clearing Fee: 6,000  
Transaction Fee (0.0000278 * Value of Sale): 4,170 4,170
FINRA Fee (0.00056 * Commission): 23.49  
NYSE Pass-Through Fee (0.000175 * Commission): 7.34  
FINRA Trading Activity Fee: 8.30 8.30
FINRA Consolidated Audit Trail Fee (0.000072 * Quantity) 2,160 2,160
Total Fees: $144,319.13 $156,338.30
Sell 200,000 Island NASDAQ Shares @ $5 Remove Liquidity IB 200,000 Shares: $700 $1,000
Island NASDAQ Fee (variable rates): 600  
Clearing Fee: 40  
Transaction Fee (0.0000278 * Value of Sale): 27.80 27.80
FINRA Fee (0.00056 * Commission): 0.39  
NYSE Pass-Through Fee (0.000175 * Commission): 0.12  
FINRA Trading Activity Fee: 8.30 8.30
FINRA Consolidated Audit Trail Fee (0.000072 * Quantity) 14.40 14.40
Total Fees: $1,391.01 $1,050.50

Notes:

  • Volume tiers are applied based on monthly cumulative trade volume summed across all stock and ETF shares at the time of the trade. Only shares that are traded while under the Tiered pricing structure will count towards the monthly volume. Share volumes for advisor, institutions, and broker accounts are summed across all accounts for the purpose of determining volume breaks. These fees are applied on a marginal basis for a given calendar month.