Trading Fees on the Rise
Traders Magazine, October 2004
Do as much trading now as possible. A major cost is a bargain now, but it will just get more expensive in a few months or so. That's the view some traders could take as the Securities and Exchange Commission announced its fee rate schedule for the fiscal year, which began on October 1. The Section 31 fee rate will rise from $23.40 per million to $32.90 per million. But there's one loophole. The higher rate doesn't go into effect until Congress approves the SEC's regular annual appropriation. And Congress, as Traders Magazine went to press, was not in session. It was not expected to return until sometime in November at the earliest. Meanwhile, the lower Section 31 rate remains in effect.
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