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CME Fee changes 2014, significant impact


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CME Fee changes 2014, significant impact

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  #11 (permalink)
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  #12 (permalink)
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So get ready to pay an additional $15 per platform, per broker, per month in CME fees if you have a funded account.

But worse by a long shot is if you are a professional, or trade thru a corporation/LLC which is classified as a professional...., far worse due to the higher per-exchange fees (CBOT, CME, COMEX, NYMEX etc). $85 per platform, per broker, per exchange, per month!

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  #13 (permalink)
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Big Mike View Post
So get ready to pay an additional $15 per platform, per broker, per month in CME fees if you have a funded account.

But worse by a long shot is if you are a professional, or trade thru a corporation/LLC which is classified as a professional...., far worse due to the higher per-exchange fees (CBOT, CME, COMEX, NYMEX etc). $85 per platform, per broker, per exchange, per month!

Mike

Wait, am I reading this right? Is the individual paying $15 per platform per broker per month? Or are they paying $15 per platform, per broker, per EXCHANGE, per month, just like the professional?

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  #14 (permalink)
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Wait, am I reading this right? Is the individual paying $15 per platform per broker per month? Or are they paying $15 per platform, per broker, per EXCHANGE, per month, just like the professional?

Mike

Hoping one of the brokers can clarify, maybe @decarleytrading is around, or one of the others?

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  #15 (permalink)
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If these costs are as being described here, the costs are huge for most.

personally I will move to other markets, such Forex or even to leveraged ETF's.

CME will shoot themselves in the foot here.

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  #16 (permalink)
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dnof View Post
If these costs are as being described here, the costs are huge for most.

personally I will move to other markets, such Forex or even to leveraged ETF's.

CME will shoot themselves in the foot here.

Trading out of an LLC is going to cost me around $27,540 a year.

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  #17 (permalink)
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Mike...what defines a professional?

Thnx
S

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  #18 (permalink)
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paps View Post
Mike...what defines a professional?

Thnx
S

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See post 6 and 10. My understanding is the classification has been expanded to anyone trading out of a Corp/LLC. I am waiting to get more details on this.

Prior to 2014:

NONPROFESSIONAL SUBSCRIBER - "A Non-professional Subscriber" is any natural person* whom a market data vendor has determined qualifies as a "Nonprofessional Subscriber" and who is not:
(a) registered or qualified with: the Securities and Exchange Commission, the Commodities Futures Trading Commission, any state securities agency, any securities exchange or association, or any commodities or futures contract market or association, nor
(b) engaged as an "investment advisor" as that term is defined in Section 201(11) of the Investment Advisor's Act of 1940 (whether or not registered or qualified under that Act), nor
(c) employed by a bank or another organization that is exempt from registration under Federal and/or state securities laws to perform functions that would require him or her to be so registered or qualified if he or she were to perform such functions for an organization not so exempt.
Any person who does meet the above criteria (a,b, & c) is considered a Professional Subscriber.


After 2014, professional is expanded to be anyone trading out of Corp/LLC.

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  #19 (permalink)
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Big Mike View Post
Trading out of an LLC is going to cost me around $27,540 a year.

Mike

Yip - about the same for me also

Still can't believe that this holds and gets implemented, but if so we should also be proactively managing our indiviual trading and business plans.

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  #20 (permalink)
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great, it will drive more people to uncharted frontier... Forex.

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