Advanced Broker Relations

Description

Proficiency at negotiating the brokerage cost of relisting a market order at a new price. Each level of this skill adds 6 percentage points to the standard Relist Discount of 50%.

SCC regulations aimed at reducing market volatility mandate a cost for relisting a market order based on the Broker Fee rate applicable to a given market order at the time of the price change.

The total brokerage costs for relisting are calculated in two steps:
- The full Broker Fee rate is applied to the increment by which the price has changed if the new price is an increase to determine the brokerage cost of raising the asking price. If the new price is a decrease this component of the brokerage cost for relisting is zero.
- A Relist Discount is then applied to the Broker Fee rate and the discounted rate then applied to the total new price. The resulting amount is added to the increment charge calculated in the first step.
The total calculated in these two steps is the brokerage cost that will be charged for relisting the market order at its new price.

The standard Relist Discount on the total price brokerage fee has been set by the SCC at 50%. Advanced Broker Relations increases that discount by 6 percentage points per level, permitting a discount of 80% at level 5.