Trade Cost Estimator
The fee table says 0.03%; the fill says otherwise. For a real order size, this instrument reads the tape — how much of the day’s volume you are, what the spread likely takes, and when the right move is a phone call, not a market order.
Volume & price are primary data · spread is a liquidity-band model, stated as an estimate
$9Mtypical dollars traded per day
11.1%your order vs the daily tape
~15bpspread band · ≈$750 on this order
work the orderthe desk’s read
BTAL · $1,000,000 orderThis order IS the market for stretches of the day. Work it in slices, or use the fund's liquidity provider.
AGF US MARKET NEUTRAL ANTI-BETA FUND · LAST $13.31 · AVG VOLUME 679K SHARES · ETF LIQUIDITY IS DEEPER THAN THE SCREEN — AUTHORIZED PARTICIPANTS CAN CREATE SHARES AGAINST THE UNDERLYING BOOK, WHICH IS WHY THE ISSUER’S CAPITAL-MARKETS DESK EXISTS