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ECN Access Fees Are Investigated

Traders Magazine, April 2003

Gregory Bresiger

The Securities and Exchange, after years of lobbying by the Security Traders Association, is probing ECN access fees, one of the biggest gripes of STA members. "We're certainly looking at the issue, but we have yet to make a decision on it," said an SEC spokesman. A recent SEC ruling permits ECN access fees to be charged at least until early July. It also reduced the maximum ECN access fee from $0.015 to $0.009 per share. Nevertheless, market makers have consistently complained that they are assessed these fees, but they have no right to assess them.

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