I am being charged $15 fee from the CME every month? | Reviews of Brokers and Data Feeds


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I am being charged $15 fee from the CME every month?

  #39 (permalink)

Market Wizard
Boca Raton
 
Trading Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,410 since Sep 2010
Thanks: 2,342 given, 3,561 received


traderwerks View Post
Totally agree. I think they could do something. A fee waiver if you did more than 10 RTs a month. Something.

If it wasn't for the data waiver we had for years, I probably would not be trading futures at all.

I think like @paps also said, they need to consider the amount of brokerages you have ( if administratively possible).
So if you have 2 brokers, and you use all exchanges, your rates are 15 X2 because you will pay for 2 users credentials.

I think that first they implement a policy, and maybe did not realize the amount of non-traders that have access to market data. Pros assume that if you have an account you trade. Most volume on the exchanges comes from professionals and institutions, so they make certain assumptions in their thinking. Maybe over time more brokers and pros will explain the same to them as I have recently.

To the credit of the CME, because I do have to be fair, they do offer CME memberships for pros like me for the purpose of cost reduction for market data. It's for the purpose of "netting" for brokers like me.
This would still impose a cost way above most retail traders would pay for data.
The team that I have been working with at the CME was really good in helping me achieve that.

So essentially, the CME is not the "enemy" because there is a rising cost of technology.
Never the less, we should not stop the communication with them to help them realize the impact of their policies.

Again, I am sorry for the data error as far as the retail. You are a pretty forgiving bunch....but luckily I have enough contacts to correct errors fast.

Matt
Optimus Futures

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