Routing Fees
| Venue | Add Liquidity | Take Liquidity | Outbound Shares |
| LSPT Route* | ($0.0015) | ($0.0015) | N/A |
| LSPD Dark Assault | ($0.0019) | ($0.0019) | N/A |
| ARCA | $0.002 | ($0.0030) | ($0.0035) |
| ARCA (OTCBB) | $0.0025 | ($0.0030)* | ($0.0030)* |
| Barclays LX | ($0.002) | ($0.002) | N/A |
| BATS Y | ($0.0018) | $0.0010 | ($0.0033) |
| BATS Z | $0.0020 | ($0.0030) | ($0.0029) |
| BOSX | ($0.0025) | $0 | N/A |
| CROSS+ | ($0.0025) | ($0.0025) | ($0.0025) |
| CROSSFINDER | ($0.0015) | ($0.0015) | N/A |
| EDGX | $0.002 | ($0.0029) | ($0.0029) |
| EDGA | ($0.0005) | ($0.0030) | ($0.0030) |
| IEX | $0 | $0 | ($0.0035) |
| Instinet Smart | ($0.002) | ($0.002) | ($0.002) |
| ITG AlterNet | ($0.0015) | ($0.0015) | N/A |
| ITG Posit | ($0.0017) | ($0.0017) | N/A |
| ITG VWAP TWAP | ($0.0015) | ($0.0015) | ($0.0015) |
| KNIGHT FAN | $0.0022 | ($0.0029) | ($0.0029) |
| KNIGHT COVERT | N/A | ($0.002) | N/A |
| NASDAQ | $0.0020 | ($0.0030) | ($0.0030) |
| NASDAQ Hidden | $0.0005 | ($0.0030) | ($0.0030) |
| NASDAQ PSX | $0.0018 | ($0.0035) | ($0.0035) |
| NYSE | $0.0013 | ($0.0031) | ($0.0031) |
| PDQ ATS | N/A | ($0.0019) | N/A |
*The LSPT route is available from 9:30am to 4:00pm EST.
EXAMPLE OF HOW MARKET CENTER FEES IMPACT YOUR TOTAL TRANSACTION COSTS!
EXAMPLE 1
If you want to send an order to buy 500 shares of AAPL. Your commission will have two components: 1) The $.0045 per share charged by PHDTT 2) The market center fee charged to you or the rebate paid to you.
If you send this 500 share order as a market or marketable limit (take liquidity) order to NASDAQ which charges a $.003 per share fee, your total commission will be $3.75. This charge is made up of the $2.25 commission paid to PHDTT plus the $1.50 market center fee charged by NASDAQ for taking liquidity.
However, If you send this 500 share order as a limit (adding liquidity) order to NASDAQ which pays a $.002 per share rebate, your total commission will only be $1.25. This charge is made up of the $2.25 commission paid to PHDTT minus the $1.00 rebate passed on to you from NASDAQ for adding liquidity.
You can choose to route your orders to exchanges which have lower market center fees or in some cases no market center fees at all. We offer LSPT and LSPD routes which have significantly lower routing costs when compared to the major exchanges and ECNs.
The term “Outbound” refers to an order which is routed from its original destination to another venue.
EXAMPLE 2
You send an order to ARCA to buy XYZ at $20.05 while NSDQ is displaying an offer to sell at $20.04. ARCA will route your order to NSDQ for execution at the better price. This order routing is referred to as outbound.
As you can see, PHDTT gives you full control over your order routing and the associated execution costs. Keep up to date with current routing fees charged by the exchanges to help you make the best decision about where to send your orders. Minimizing your execution costs = Keeping more of your profits.
Regulatory Fees
| Fee | Rate | Additional Details |
| SEC: | ($0.0000218) | Multiply this amount by the principal amount sold |
| FINRA TAF: | ($0.000119) | Covers sales of exchange registered securities whenever executed. Multiply this amount by the number of shares sold |
*For share prices less than $1.00, 30 basis points times the total trade value will be charged.
Pre and post market orders will have an additional charge of 0.003 per share.
The venues above represent the most commonly used routes. PHDTT offers additional routes not listed below. Stocks priced under $1.00 are subject to different routing charges and are not rebate eligible. Rebates are subject to forfeiture in the event an ECN or exchange does not remit the rebate to PHDTT. Routing charges are subject to change without prior notice. Call 281.809.6961 for more details and pricing.