Sterling
Financial Systems, Inc.
225 West Washington Street, Suite 1014
Chicago, Illinois 60606
(312) 346-9600
BATS ECN New
Fees Announcement
September 4, 2007
ANNOUNCEMENT –
TO ALL STERLING CLIENTS
Please be
advised that effective Saturday, September 1st,
2007, BATS ECN is changing its fee schedule
for all subscribers. Consequently, Sterling System will
start computing ECN fees for BATS executed trades with
accordance to the new fee schedule effective Tuesday,
September 4th, 2007. The complete list of the
current BATS ECN fees can be accessed through BATS website
at: http://www.batstrading.com/subscriber_resources/BATS_Fee_Schedule_20070901.pdf.
Be advised that Sterling system will
not compute fees for Directed ISO trades, since Sterling
Trader front-end does not support this type of orders.
Also, the special charge of $0.0003 for non-ETF orders
routed out to NYSE will be computed using the standard
BATS routing fee of $0.0026 instead.
If you need more information about the
BATS ECN fee computation on the Sterling System or any
related issue, please feel free to contact our Sterling
Help Desk at (312) 346-9600 extension 290.
Important Note:
Please be advised that Sterling has
made every effort to compute ECN fees as accurately
as possible. However, due to many reasons, such as insufficient
or incomplete data provided to Sterling, 100% accuracy
is not achievable when computing the fees. Therefore,
the Sterling ECN fees computations should be understood
as a “best effort” estimate. Clients may
use the Sterling computations for their own purposes,
but Sterling may not be and will not be financially
liable for their use.
Sterling Financial Systems, Inc.
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