Firm58 Manages Fees for all 23 Equity and Options Exchanges to Address Growing Complexity & Competition
As more trading venues enter the market, many exchanges are adjusting their fee structures to remain competitive. Keeping track of these additions and fluctuating rates can be a dizzying prospect for broker dealers operating off of spreadsheets, and it can be tempting to just let fee monitoring slide off the agenda altogether.
But especially for brokerage firms occupying the middle market (where profitability hinges on slim margins), being able to strategically react to exchange fees is more important than ever.
To ease broker dealers’ burden, Firm58 now offers fee management support for all 11 equity and 12 options exchanges, including non-exchange trading venues. We monitor fee structures across all of these different exchanges by analyzing volumes of trade criteria amassing over 5,000 unique lines of logic and 7,000+ distinct rules covering execution costs and pricing models, then documenting each adjustment in a consolidated rate library. Broker dealers receive alerts whenever a new change is documented. These real-time advisory notices and monthly reports give brokerage firms the time and breathing room to route trades in the most cost-effective manner possible in order to maximize profit, even in a shifting market landscape.
Read the full press release on the announcement here.