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Thursday, January 11, 2018 12:29:17 PM
ARCA is an ECN, not a MM. The per share fees for retail using ARCA on OTC stocks are .0025 for adding liquidity and .003 for removing liquidity.
So that 500k bid, being an order that adds liquidity, would cost a retail trader $1250 in trading fees.
MM's use ARCA for free. So it stands to reason that there are MM's building positions in $ASFX.
ARCA FEES: https://www.lightspeed.com/pricing/routing-fees/
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