[R-SIG-Finance] API based Trading Lowest Commission

[Arthur Kreitman]

The actual cost on Interactive is .0035/share minus the liquidity discount, which is .0023/share on ARCA.  So, your effective cost is .0012/share.  
The two lowest cost brokerages I know of are Interactive and Lightspeed.  Interactive is .0035/share minus any liqudity rebate.  Lightspeed is a about the same. 

-----Original Message-----
From: r-sig-finance-bounces at stat.math.ethz.ch [mailto:r-sig-finance-bounces at stat.math.ethz.ch] On Behalf Of zubin
Sent: Saturday, December 19, 2009 1:40 PM
To: r-sig-finance at stat.math.ethz.ch
Subject: [R-SIG-Finance] API based Trading Lowest Commission

Hello List,

Looking for recommendations for the lowest cost brokerage, that has an
API we can utilize for automated trading.  

Trading US listed ETFs. 

IBrokers, for about 700 shares a trade, 50$ a share, is about $8.00.  
Each trade will be in the $35K range, 500-700 shares. 

Does anyone recommend alternative brokers (with an API) that are less
expensive, i was erroneously assuming $2 to $3 per trade?

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