frequent cancels

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Imported from previous forum

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[ original email was from Asim Kaleem - asimletters@yahoo.com ]
hi,

just wondering if most of the fix sell sides charge a fees on freuent cancels and replaces, any one knows?

thanks.

3

[ original email was from Kevin Young - kyoung@youngfe.com ]
Sell-side firms want to make money providing execution services (and maybe clearing services), so it is rare that a sell-side shop would charge fees for frequently cancel/replacing orders. Some sell-side Networks (Bloomberg B-Trade, NYFIX Network, Reuters ROR, SunGard STN, etc.) may charge a message charge but I think even that is rare or non-existent; Networks want to make money on connections and volume (of trades).

hi,

just wondering if most of the fix sell sides charge a fees on freuent
cancels and replaces, any one knows?

thanks.

4

[ original email was from Jeremy Sutton - jezza.sutton@patsystems.com ]
Some derivatives exchanges will penalise too many amends-to-fills ratio, since they make their money on filled trades and many cancel replaces just load up their matching engines.