Nasdaq Cuts Trading Fees On SelectNet
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WASHINGTON--The Nasdaq Stock Market has restructured the pricing on SelectNet, its automated stock trading system, which will result in lowered fees. The new fee structure has been approved by the NASD board of governors and went into effect on October 1.
The Nasdaq will replace its current rate of $1 per SelectNet Trade with a triple-tiered monthly pricing system. It will charge members $1 per trade for the first 50,000 orders. Members will pay 70 cents for the next 50,000 orders and 30 cents
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