OPTIONS TRADING
Per Contract — $0.50** Starting Rate
Exchange Fees — Index Options $0.60 Per Contract
DAS LEVEL 1 — ACTIVE
WAIVED WITH GENERATION OF $199 IN COMMISSIONS PER MONTH
SOFTWARE PACKAGE (ALL IN) ** $60.00
Add ons:
PINK SHEET LEVEL 1 — $15.00
NEWS — $20.00
NEWSBODY — $30.00
*ALL IN INCLUDES MARKET INDICES, NASDAQ LEVEL 1, NYSE TAPE A, AND NYSE TAPE B
*ADD ON DATA FEE AS A DIRECT PASS-THROUGH, WAIVER FEE NOT ELIGIBLE
DAS LEVEL 2 — GUARDIAN TRADER
GUARDIAN TRADER SOFTWARE PACKAGE (ALL IN) WAIVED WITH GENERATION OF $599 IN COMMISSIONS PER MONTH
SOFTWARE PACKAGE (ALL IN) ** $150.00
$100 IN ADDITIONAL ADD ON’S WAIVED **
PINK SHEET LEVEL 1 — $15.00
PINK SHEET LEVEL 2 — $50.00
NYSE ARCA BOOK — $15.00
NASDAQ TOTAL VIEW — $20.00
OPTIONS LEVEL 2 — $50.00
NEWS — $20.00
NEWSBODY — $30.00
TSX LEVEL — $60.00
API — $100.00
REPLAY L1 — $25.00
TRADE SIGNAL — $35.00
FUNDAMENTALS — $15.00
IEX BOOK — $15.00
*ALL IN INCLUDES MARKET INDICES, NASDAQ LEVEL 1, NYSE TAPE A, NASDAQ TAPE B, AND NASDAQ REGIONAL QUOTES
*ADD ON DATA FEE IS A DIRECT PASS-THROUGH, FEE WAIVER NOT ELIGIBLE
DAS LEVEL 2 — GUARDIAN PROFESSIONAL TRADER
GUARDIAN PRO SOFTWARE PACKAGE (ALL IN) WAIVED WITH GENERATION OF $899 IN COMMISSIONS PER MONTH
SOFTWARE PACKAGE (ALL IN) ** $200.00
ADDITIONAL ADD ON’S WAIVED **
PINK SHEET LEVEL 1 — $30.00
PINK SHEET LEVEL 2 — $75.00
NYSE ARCA BOOK — $60.00
NASDAQ TOTAL VIEW — $100.00
OPTIONS LEVEL 2 — $75.00
NEWS — $20.00
NEWSBODY — $30.00
*ALL IN INCLUDES MARKET INDICES, NASDAQ LEVEL 1, NYSE TAPE A, NASDAQ TAPE B, AND NASDAQ REGIONAL QUOTES
** DATA FEES ARE WAIVED WITH GENERATION OF $899 IN COMMISSIONS PER MONTH
STERLING TRADER — GUARDIAN TRADING
GUARDIAN TRADING SOFTWARE PACKAGE WAIVED WITH GENERATION OF $799 IN COMMISSIONS PER MONTH
SOFTWARE PACKAGE ** $275
INCLUDES NASDAQ TOTAL VIEW
THE FOLLOWING IS A LIST OF DATA FEES THAT ARE PASS THROUGH TO CLIENTS
PINK SHEET LEVEL 2 — $79.00
NYSE LEVEL 1 — $2.00
AMEX LEVEL 1 — $2.00
NASDAQ LEVEL 1 — $26.00
NYSE ARCA BOOK OTC — $2.00
CBOE MDX INDICES — $4.25
DOW JONES INDICES — $26.00
BATS BOOK — $44.00
DIRECT EDGE A — $12.00
DIRECT EDGE X — $44.00
OPTIONS LEVEL 2 — $100.00
*ADD ON DATA FEE IS A DIRECT PASS-THROUGH CHARGE, FEE WAIVER NOT ELIGIBLE
INSTITUTIONAL/PROFESSIONAL SUBSCRIBER RATE
NO SOFTWARE PACKAGE AND ALL DATA IS PASS THROUGH TO CLIENT
SOFTWARE ONLY $125.00
DATA FEES
PINK SHEET LEVEL 1– $30.00
PINK SHEET LEVEL 2 — $75.00
NYSE ARCA BOOK — $60.00
REGIONAL — $50.00
NASDAQ TOTALVIEW — $100.00
OPTIONS LEVEL 2– $75.00
NEWS — $20.00
NEWSBODY — $30.00
AMEX LEVEL 1– $32.50
NASDAQ LEVEL 1 — $50.00
Aggressive Routers
| Time | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
|---|---|---|---|---|---|
| 4:00am to 8:00pm | Guardian Smart* | 0.0019 | -0.0023 | 0.0019 | Default Routing for Market, Limit, STOP Routes. Utilizes Velocity-managed destinations to maximize cost-effective routing for all market sessions. STOP orders will not trigger outside market hours |
| 9:30am to 4:00pm | VTRD* | 0.0017 | -0.0023 | 0.0017 | High Liquidity Router, Accesses Off-Exchange Liquidity providers as well as ECNs to provide a high Fill rate and high rebate simultaneously. |
| 9:30am to 4:00pm | VFAN | 0.0032 | -0.002 | 0.0032 | Pings Major Exchanges and Dark Pools simultaneously to maximize Liquidity access. Utilizes IOC order types to minimize market impact and supports max floor settings to keep shares hidden. |
| 4:00am to 8:00pm | ANGO* | 0.0019 | -0.0022 | 0.0019 | Velocity destination offering high fill rates and liquidity rebates based on market conditions. Accesses off-exchange liquidity to reduce costs to the trader. |
| 4:00am to 8:00pm | JOVV* | 0.0019 | -0.0023 | 0.002 | Aggressive Route that utilizes off-exchange liquidity for cost-effective fills. Also posts to ECN on your behalf passing thru High rebates for passive orders |
| 4:00am to 8:00pm | LSTSP | 0.00375 | -0.002 | 0.00375 | Sweeps Major Exchanges during all Market Sessions assisting in finding Liquidity outside of Market hours. |
| 4:00am to 8:00pm | TLML* | 0.0019 | -0.0022 | 0.0019 | Velocity destination that accesses Displayed and Non-Displayed Liquidity to allow aggressive and passive trading simultaneously. |
| 9:30am to 4:00pm | SPDRX | 0.002 | -0.0015 | 0.002 | High Liquidity Router for NMS securities |
| 9:30am to 4:00pm | HEAT | 0.0015 | 0.0015 | 0.0015 | High Liquidity router hits both DARK and Lit Markets |
ECN & Exchange Access
| Time | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
|---|---|---|---|---|---|
| 4:00am to 8:00pm | ARCA | 0.003 | -0.0022 | 0.0035 | Direct route to ARCA enabling higher rebates offered |
| 7:00am to 8:00pm | BYX | -0.0005 | 0.003 | 0.003 | Direct to Bats BYX Exchange |
| 7:00am to 8:00pm | BZX | 0.003 | -0.002 | 0.003 | Direct to BATS BZX Exchange |
| 7:00am to 8:00pm | EDGX | 0.003 | -0.001 | 0.0035 | EDGX Exchange |
| 7:00am to 8:00pm | EDGA | -0.001 | 0.003 | 0.0035 | EDGA Exchange |
| 8:00am to 5:00pm | IEXV | 0.0015 | 0.001 | 0.0038 | IEX “Investors Exchange”. IEX Exchange delivers the ECN trading experience at a lower cost. Take advantage of IEX’s increasing midpoint liquidity to expand your trading. |
| 4:00am to 8:00pm | NQBX | -0.001 | 0.003 | 0.0035 | Direct to Nasdaq BX exchange |
| 4:00am to 8:00pm | NSDQ | 0.003 | -0.0022 | 0.0035 | Direct to Nasdaq Exchange |
| 9:30am to 4:00pm | OTCX | 0.004 | 0.004 | 0.004 | Direct To OTCX Exchange $.0001 for fills priced below $1 |
Dark Liquidity Aggregators
| Time | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
|---|---|---|---|---|---|
| 9:30am to 4:00pm | DARK | 0.0017 | 0.0017 | 0.0017 | Dark Pool Access offering High Liquidity Access |
| 9:30am to 4:00pm | GDMX | 0.002 | 0.002 | 0.002 | Dark Pool Aggregator designed for High Fill Rates |
| 9:30am to 4:00 pm | DKSW | 0.0025 | 0.0025 | 0.0025 | Dark Pool Sweep Strategy, Utilizes Probe and Resting orders to attempt to minimize Market Impact |
Midpoint and Algo Specialty Routes
| Time | Route | Remove Liquidity | Add Liquidity | Route Away | Strategy Description |
|---|---|---|---|---|---|
| 9:30am to 4:00pm | VMID | 0.0015 | 0.001 | NA | Velocity Midpoint Route, designed to execute orders at the midpoint during market hours. |
| 9:30am to 4:00pm | GDMX | 0.002 | 0.002 | 0.002 | Accesses multiple MidPoint Destinations offering maximum liquidity |
| 4:00am to 8:00pm | VPOST | 0.002 | 0.002 | 0.002 | Velocity Route built for Pre Market and Post Market Access, also available during market hours. |
| 9:20am to 4:00pm | VWAP* | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at Volume Weighted Average Price |
| 9:20am to 4:00pm | TWAP* | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price corresponding to a user defined time period. |
| 9:20am to 4:00pm | TWAP5* | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price in 5 minute defined time period. Accepts orders at 9:20, only executes during market hours. |
| 9:20am to 4:00pm | TWAP10* | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price in 10 minute defined time period |
| 9:20am to 4:00pm | TWAP20* | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price in 20 minute defined time period |
| 9:20am to 4:00pm | TWAP30* | 0.0025 | 0.0025 | 0.0025 | Customizable router designed to Fill at an Average Price in 30 minute defined time period |
| 9:30am to 4:30pm | IEXD | 0.0015 | 0.0010 | NA | Utilizes Discretionary Peg (D-PEG) Order Type at IEX. Dark order type, Assists Trader in Optimizing Executions within the Spread. |
| 9:30am to 4:30pm | ALGO | 0.0025 | 0.0025 | 0.0025 | Guardian Trading ALGO Suite |
*Guardian SMART pricing reflects highest possible cost and lowest possible rebate during market hours. For Pre-Market and Post Market sessions please see pricing for ARCA, EDGX, NSDQ routes
“Rates above only apply to NMS symbols =>$1.00 executed during Core Market
hours, charges could exceed what is listed above for executions in stocks below $1.”
*Rebates on JOVV, VTRD, TLML, ANGO route apply to fills on ARCA and EDGX only
*TWAP and VWAP orders will be accepted starting at 9:20 to ensure opening auction participation if desired. Will not execute outside market hours.
ACCOUNT RELATED FEES
Incoming ACAT Transfer (Full / Partial) — Free
Outgoing ACAT Transfer (Full / Partial) — $75.00
DTC Transfer In/Out (Per Security) — Free/$50.00
DWAC Transfer In (Per Security) — $150.00
DWAC Rejection Fee — $125.00
Out going Wire (Domestic) — $25.00
Out going Wire (Foreign ) — $50.00
IRA Annual Fee — $25.00
IRA ACAT Out Fee– $75.00
IRA Termination Fee– $75.00
Corporate Actions Voluntary– $65.00
Corporate Action Mandatory– $40.00