Routes and Fees
Review our routes and fees for DAS Trader.
Start | Close | Category | Route | Adding Liquidity | Taking Liquidity | Description |
---|---|---|---|---|---|---|
7:30 AM | 5:00 PM | Market Maker | LIMIT | -0.002 | -0.002 | DAS auto programmed route to hit route CPGO as a limit order |
7:30 AM | 5:00 PM | Market Maker | MARKET | -0.002 | -0.002 | DAS auto programmed route to hit route CPGO as a market order |
4:00 AM | 8:00 PM | Smart Router | ARCS | 0.002 | -0.0032 | Smart router. Posts on ARCA. No rebate for stocks <$1.00 |
4:00 AM | 8:00 PM | Smart Router | NSDS | 0.002 | -0.0032 | Smart router. Posts on Nasdaq. No rebate for stocks <$1.00 |
7:00 AM | 7:00 PM | Smart Router | BARC | 0.001 | -0.0039 | Barclays Smart router that posts on ARCA |
7:00 AM | 7:00 PM | Smart Router | BNSQ | 0.001 | -0.0039 | Barclays Smart router that posts on NSDQ |
7:00 AM | 7:00 PM | Smart Router | BSMT | 0.001 | -0.0039 | Barclays Smart router that sweeps and posts on various venues |
9:30 AM | 4:00 PM | Smart Router | EDGA | -0.0032 | -0.0032 | EDGA Smart router |
9:30 AM | 4:00 PM | Smart Router | EDGX | 0.002 | -0.0032 | EDGX Smart router |
4:00 AM | 8:00 PM | Smart Router | FAN | 0.002 | -0.0032 | Virtu Smart router. Aggressively seeks execution when taking liquidity |
9:30 AM | 4:00 PM | Smart Router | MARKT | -0.0032 | -0.0032 | Smart router used for market orders |
9:30 AM | 4:00 PM | Smart Router | NITEP | -0.0025 | -0.0025 | Virtu passive algo smart router |
4:00 AM | 8:00 PM | Smart Router | XALL | -0.0032 | -0.0032 | Aggressive Smart router sweeps dark and lit destinations, execution over cost |
7:00 AM | 5:00 PM | Smart Router | CFAN | -0.002 | -0.0028 | Aggressive Smart order router. Aggressively seeks execution when taking liquidity |
7:30 AM | 5:00 PM | Market Maker | CPGO | -0.002 | -0.002 | Market Maker Route. Best for <500 share lots |
9:30 AM | 4:00 PM | Market Maker | CPMM | -0.0015 | -0.0015 | Market maker wheel route |
9:30 AM | 4:00 PM | Market Maker | XDRK | -0.002 | -0.002 | Market maker wheel route |
9:30 AM | 4:00 PM | Market Maker | HEAT | -0.002 | -0.002 | Market maker wheel route |
9:30 AM | 4:00 PM | Specialized | PMID | -0.0025 | -0.0025 | Mid-point route |
9:30 AM | 4:00 PM | Specialized | PIOC | -0.001 | -0.001 | Immediate or cancel route. Best for marketable orders of very liquid stocks |
9:30 AM | 4:00 PM | Specialized | PDRK | -0.0025 | -0.0025 | Dark pool route. Seeks alternative liquidity other than lit venues |
9:30 AM | 4:00 PM | Specialized | PSMT | -0.0024 | -0.0024 | Aggressive route. Good for taking liquidity at lower rate |
9:30 AM | 4:00 PM | Specialized | XDAG | -0.0025 | -0.0025 | Most aggressive dark aggregator route. Sweeps major dark pool destinations |
9:30 AM | 4:00 PM | Specialized | XMID | -0.0025 | -0.0025 | Dark aggregator that sweeps major dark destinations executing at mid-pt. or better |
9:30 AM | 4:00 PM | Specialized | ALGO | -0.0025 | -0.0025 | Algo Suite Order Entry |
9:30 AM | 4:00 PM | Specialized | TWAP | -0.0025 | -0.0025 | TWAP route, will work the order from time of entry to 4:00 PM EST |
9:30 AM | 4:00 PM | Specialized | DKAP | -0.004 | -0.004 | Dark pool TWAP route, will work the order from time of entry to 4:00 PM EST |
9:30 AM | 4:00 PM | OTCBB | ARCAE <$1 | -0.0035 | -0.0035 | ARCA Smart router for OTCBB's under $1 |
9:30 AM | 4:00 PM | OTCBB | ARCAE | -0.004 | -0.004 | ARCA Smart router for OTCBB's over $1 |
9:30 AM | 4:00 PM | OTCBB | SPDRM | -0.002 | -0.002 | Market maker wheel route for OTCBB's |
9:30 AM | 4:00 PM | OTCBB | DBOT | -0.001 | -0.0045 | DBOT Smart router |
9:30 AM | 4:00 PM | OTCBB | CLST | -0.002 | -0.002 | Market maker route for OTCBB's |
9:30 AM | 4:00 PM | OTCBB | OTCX** | -0.001 | -0.0045 | OTCX router |
9:30 AM | 4:00 PM | OTCBB | PUMA | -0.002 | -0.002 | Market maker route for OTCBB's |
Start | Close | Category | Route | Adding Liquidity | Taking Liquidity | Description |
---|---|---|---|---|---|---|
6:00 AM | 5:00 PM | Smart Router | ARCASMRT | 0.002 | -0.0032 | Smart router. Posts on ARCA. No rebate for stocks <$1.00 |
6:00 AM | 5:00 PM | Smart Router | NSDQSMRT | 0.002 | -0.0032 | Smart router. Posts on Nasdaq. No rebate for stocks <$1.00 |
7:00 AM | 7:00 PM | Smart Router | BACARCA | 0.001 | -0.0039 | Barclays Smart router that posts on ARCA |
7:00 AM | 7:00 PM | Smart Router | BACNSDQ | 0.001 | -0.0039 | Barclays Smart router that posts on NSDQ |
7:00 AM | 7:00 PM | Smart Router | BACSMT | 0.001 | -0.0039 | Barclays Smart router that sweeps and posts on various venues |
6:00 AM | 5:00 PM | Smart Router | EDGA | -0.0032 | -0.0032 | EDGA Smart router |
6:00 AM | 5:00 PM | Smart Router | EDGX | 0.002 | -0.0032 | EDGX Smart router |
4:00 AM | 8:00 PM | Smart Router | NITEFAN | 0.002 | -0.0032 | Virtu Smart router. Aggressively seeks execution when taking liquidity |
9:30 AM | 4:00 PM | Smart Router | NITEPASS | -0.0025 | -0.0025 | Virtu passive algo smart router |
4:00 AM | 8:00 PM | Smart Router | XALL | -0.0032 | -0.0032 | Aggressive Smart router sweeps dark and lit destinations, execution over cost |
7:00 AM | 5:00 PM | Smart Router | CFAN | -0.002 | -0.0028 | Aggressive Smart order router. Aggressively seeks execution when taking liquidity |
9:30 AM | 4:00 PM | Market Maker | CSFBDESK | -0.002 | -0.002 | Market maker route |
9:30 AM | 4:00 PM | Market Maker | HEAT | -0.002 | -0.002 | Market maker wheel route |
9:30 AM | 4:00 PM | Market Maker | CPMM | -0.0015 | -0.0015 | Market maker wheel route |
9:30 AM | 4:00 PM | Market Maker | XDRK | -0.002 | -0.002 | Market maker wheel route IOC |
9:30 AM | 4:00 PM | Specialized | CPMID | -0.0025 | -0.0025 | Mid-point route |
9:30 AM | 4:00 PM | Specialized | CPIOC | -0.001 | -0.001 | Immediate or cancel route. Best for marketable orders of very liquid stocks |
9:30 AM | 4:00 PM | Specialized | CPDARK | -0.0025 | -0.0025 | Dark pool route. Seeks alternative liquidity other than lit venues |
9:30 AM | 4:00 PM | Specialized | CPSMRT | -0.0024 | -0.0024 | Aggressive route. Good for taking liquidity at lower rate |
9:30 AM | 4:00 PM | Specialized | XDAG | -0.0025 | -0.0025 | Most aggressive dark aggregator route. Sweeps major dark pool destinations |
9:30 AM | 4:00 PM | Specialized | XMID | -0.0025 | -0.0025 | Dark aggregator that sweeps major dark destinations executing at mid-pt. or better |
9:30 AM | 4:00 PM | Specialized | NITETWAP | -0.0025 | -0.0025 | TWAP route, will work the order from time of entry to 4:00 PM EST |
9:30 AM | 4:00 PM | Specialized | NITEVWAP | -0.0025 | -0.0025 | Dark pool TWAP route, will work the order from time of entry to 4:00 PM EST |
9:30 AM | 4:00 PM | OTCBB | ARCAEDGE <$1 | -0.0035 | -0.0035 | ARCA Smart router for OTCBB's under $1 |
9:30 AM | 4:00 PM | OTCBB | ARCAEDGE | -0.004 | -0.004 | ARCA Smart router for OTCBB's over $1 |
9:30 AM | 4:00 PM | OTCBB | SPDRPNK1 | -0.002 | -0.002 | Market maker wheel route for OTCBB's |
9:30 AM | 4:00 PM | OTCBB | SPDRDBOT | -0.001 | -0.0045 | DBOT Smart router |
9:30 AM | 4:00 PM | OTCBB | CLST | -0.002 | -0.002 | Market maker route for OTCBB's |
9:30 AM | 4:00 PM | OTCBB | PUMA | -0.002 | -0.002 | Market maker route for OTCBB's |
Rates are subject to change at any time. Please call the support desk for most up to date pricing (1-844-811-0118).
Adding liquidity for stocks <$1.00 will incur a charge of 0.0005
Route times are Eastern Standard Time
On DAS, all routes above will end in ‘L’ or ‘M.’ Use ‘L’ for Limit orders and ‘M’ for Market orders
Regulatory Fees:
SEC: 0.0000221 (Multiply this amount by the principal amount sold)
FINRA TAF: 0.000119/share $5.95 max. Covers sales of exchange registered securities. Multiply by # of shares sold.
NSCC, DTC Fees: 0.00004/share (Maximum 0.5% of trade value)
Disclosure:
All routes are directed to other broker dealers for execution. The descriptions listed above are based on information provided to us by these brokers. The smart routers, and logic programmed into the routers that determines order destination, is under full control of the brokers that receive the orders.
**Any stock under $1/share will incur a $0.0045/share routing fee when using the OTCX route.