CME Fee changes 2014, significant impact - futures io
futures io futures trading



CME Fee changes 2014, significant impact


Discussion in Brokers

Updated by mattz
      Top Posters
    1. looks_one Big Mike with 47 posts (181 thanks)
    2. looks_two Robert Carrillo with 10 posts (25 thanks)
    3. looks_3 Itchymoku with 9 posts (3 thanks)
    4. looks_4 mattz with 8 posts (13 thanks)
      Best Posters
    1. looks_one Deucalion with 9.0 thanks per post
    2. looks_two Big Mike with 3.9 thanks per post
    3. looks_3 bob7123 with 3.6 thanks per post
    4. looks_4 Robert Carrillo with 2.5 thanks per post
    1. trending_up 78,214 views
    2. thumb_up 399 thanks given
    3. group 81 followers
    1. forum 221 replies
    2. attach_file 5 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

CME Fee changes 2014, significant impact

(login for full post details)
  #41 (permalink)
Calgary Alberta
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Futures
 
Posts: 514 since Oct 2012
Thanks: 184 given, 194 received


emini2000 View Post
Could someone explain this? What is meant by per platform, per broker? I'm an individual trader, so what does this mean to me?

Just throwing it out there. Maybe this would be a great opportunity for IQFeed to do a webinar once all the new fees are set in stone later on in the new year. For instance explain and provide examples on how much it cost (dollar wise) to different parties (eg. the average retail investor, LLC etc.) and on various instruments. (E-mini, CL, etc.)

Reply With Quote
The following 2 users say Thank You to djoyce854 for this post:

Can you help answer these questions
from other members on futures io?
Degiro Negative Balance Advice
Traders Hideout
Spoofing,Bluff Orders, Manipulation?
Emini and Emicro Index
3x Fangdango
Traders Hideout
Contract-adjusted volume composite in Sierra
Sierra Chart
Trade Summary Error
MultiCharts
 
Best Threads (Most Thanked)
in the last 7 days on futures io
VWAP for stock index futures trading?
48 thanks
VWAP oscillator for NT8
15 thanks
Coronavirus COVID-19
13 thanks
Battlestations: Show us your trading desks!
12 thanks
Bitten by FOMC
8 thanks
 
(login for full post details)
  #42 (permalink)
The Netherlands
 
Experience: None
Platform: MultiCharts, TradingView
Trading: ...
 
Jura's Avatar
 
Posts: 774 since Apr 2010
Thanks: 2,347 given, 686 received


Big Mike View Post
If I read it right, they are discontinuing the CME fee waiver program as well.

Maybe @Robert Carrillo can confirm if I've interpreted that right.


Big Mike View Post
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?


Robert Carrillo View Post
We haven't been told by CME that anyone trading out of a Corp/LLC, or even just using a business name, will be considered a Pro. That doesn't mean it's not true, just that we are waiting for clarification from CME on the Pro/Non-Pro rules.

Suggest any interested parties contact CME and/or CFTC directly with comments, as they may not be following futures.io (formerly BMT).

@Robert Carrillo, can you share the logic behind your comment here? As I understand this thread, trading from a Corp/LLC is only a subset of the fee increase.

Since you did not address Mike's other questions, can I read that as you are waiting for confirmation from CME and/or do not think retail traders will see different fees?

----

Btw, I'm wondering why I, as an IQFeed customer, had to read this on futures.io (formerly BMT) and not receive an e-mail communication from IQFeed regarding new fees. Is there perhaps an internet page to register for such an e-mail communication? (Yes, I checked my spam folder ).

----

Furthermore, I see that IQFeed raises the CME fees with the +/- 15 dollar per exchange per 1 January for both professional and non-professional:




Source.

(So as Mike said, that would be $15 additional fees per exchange, per platform, per data feed, per month.)

But the CME waiver fee page has not changed, so the waiver fee is still continued?

And, is this fee increase related to CME's fee increase or not? I'm asking since, again, I was not informed by IQFeed about these new fees, so for all I know these new fees per 1 January might have been posted on that page before CME communicated the new fees.

Thanks in advance for clearing these things up.

Reply With Quote
The following 5 users say Thank You to Jura for this post:
 
(login for full post details)
  #43 (permalink)
Norway
 
Experience: Advanced
Platform: MultiCharts, CQG, NinjaTrader
Broker: CQG, DTN IQFeed
Trading: EURO
 
Laurus12's Avatar
 
Posts: 376 since Nov 2010
Thanks: 561 given, 354 received



decarleytrading View Post
Sorry, I missed this earlier but it sounds like you have it correct in a later reply.

Be sure to send your opinions to marketdata@cmegroup.com and info@cmegroup.com. Hopefully the CME will come to their senses and look at the big picture.


Did a simple e-mail to the CME with the listed e-mail addresses:


Quoting 
Subject: Regarding the 2014 Fee Changes Summary

Dear Sirs or Madams,

No offense intended, but based on the principle "more customers equals more profits" I believe without a doubt that CME Group Inc is going to loose a lot of traders by going forward doing this. I think this will be a "shoot your self in the foot" act.


Best regards,
.....


“If you wish to see the truth, then hold no opinions for or against anything.” - Hsin Hsin Ming
Reply With Quote
The following user says Thank You to Laurus12 for this post:
 
(login for full post details)
  #44 (permalink)
Europe
 
Experience: Advanced
Platform: Multicharts, Jigsaw
Broker: Stage5, OEC
Trading: Treasuries
 
arnie's Avatar
 
Posts: 821 since May 2010
Thanks: 722 given, 1,020 received

The only thing that confuses me is the "per platform" cost. What is this? What platform? Is this related to brokers only?

@Jura, for what I understood by the documents @Big Mike posted, the waiver program will continue to actual clients till the end of 2014. The question is if those $15 per exchange will me charged outside the waiver program.

If I become half a percent smarter each year, I'll be a genius by the time I die
Reply With Quote
The following user says Thank You to arnie for this post:
 
(login for full post details)
  #45 (permalink)
Germany
 
Experience: Advanced
Platform: NinjaTrader
Broker: NTB / Continuum
Trading: FDAX and CL
 
Balanar's Avatar
 
Posts: 396 since Jan 2013
Thanks: 510 given, 1,627 received

I think most of the futures.io (formerly BMT) members are retail traders, right?

Do I understand you correctly that these traders have to pay 15$ per exchange(CL, ES for example or all products from your datafeed?), 15$ per platform (NinjaTrader???), 15$ per month (for whatever) and 15$ for datafeed (in my case zen-fire)?

I am really confused.

Hope somebody can clarify this.


For FX Traders: I know that the EUREX wants to introduce in 2014 a new FX futures market.

https://www.eurexchange.com/blob/exchange-de/3986-146242/632326/4/data/presentation_fx_derivatives_at_eurex_exchange.pdf

https://www.eurexchange.com/blob/exchange-de/3986-146242/634086/4/data/factsheet_fx-futures-and-options-at-eurex-exchange.pdf

Reply With Quote
The following 3 users say Thank You to Balanar for this post:
 
(login for full post details)
  #46 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,057 since Jun 2009
Thanks: 31,658 given, 95,054 received


emini2000 View Post
Could someone explain this? What is meant by per platform, per broker? I'm an individual trader, so what does this mean to me?

Current understanding means that if you use two trading platforms, say Sierra Chart and NinjaTrader, and you trade on two exchanges (say CME and CBOT) and say you have two brokerage accounts you actively used, then:

$15/per platform = $30
$15/per exchange = $30

$60 per broker, 2 brokers = $120/mo

So cost of $120 a month more in January. It's nothing compared to the cost of a professional, that is the major change.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #47 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,057 since Jun 2009
Thanks: 31,658 given, 95,054 received


Jura View Post
Btw, I'm wondering why I, as an IQFeed customer, had to read this on futures.io (formerly BMT) and not receive an e-mail communication from IQFeed regarding new fees. Is there perhaps an internet page to register for such an e-mail communication? (Yes, I checked my spam folder ).

BTW, I did not hear about it from any of my brokers. In fact, I heard about it from a broker on futures.io (formerly BMT) through casual email, where I don't even have an account.

I think this is largely in part to the way CME (purposely?) executed this, there are a lot of unanswered questions and such a huge negative response I think a lot of the brokers simply thought they would see changes that so far the CME is unresponsive to.

My understanding is that this impacts every broker, they will have to start collecting these fees in January.

I also think platform companies like NinjaTrader should be on top of this, because I think there is going to be a lot of confusion as to why people are paying for "platform fees" when they already lease or own the actual trading platform separately/directly from that vendor. The wording needs some improvement, but my understanding as of this email is the "platform fee" is better described as a "data fee" that is simply collected on a per-platform basis.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #48 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,057 since Jun 2009
Thanks: 31,658 given, 95,054 received


arnie View Post
The only thing that confuses me is the "per platform" cost. What is this? What platform? Is this related to brokers only?

Not 100% clear to me either. I just got into this yesterday, so hoping for clarity to come soon through proper channels.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #49 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 49,057 since Jun 2009
Thanks: 31,658 given, 95,054 received



Would you start a separate thread in Brokers section for this, it deserves its own topic.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #50 (permalink)
The Netherlands
 
Experience: None
Platform: MultiCharts, TradingView
Trading: ...
 
Jura's Avatar
 
Posts: 774 since Apr 2010
Thanks: 2,347 given, 686 received



Big Mike View Post
BTW, I did not hear about it from any of my brokers. In fact, I heard about it from a broker on futures.io (formerly BMT) through casual email, where I don't even have an account.

I think this is largely in part to the way CME (purposely?) executed this, there are a lot of unanswered questions and such a huge negative response I think a lot of the brokers simply thought they would see changes that so far the CME is unresponsive to.

I think that's very customer unfriendly. While I can understand that the CME does not care much about smaller traders (since they have little contribution to CME's bottom line), I do not understand that companies that cater to retail traders (whether this being brokers or data providers) did not send an e-mail to their customers.

That's just good customer service, in my view (and actually, often required by the terms and conditions). Then we can also make adjustments, if needed. (This does, however, makes me quite grateful that you (Mike) in the futures.io (formerly BMT) e-mail newsletter, otherwise I would still have not know. Glad to see you're watching out for us. )

Reply With Quote


futures io Trading Community Trading Reviews and Vendors Brokers > CME Fee changes 2014, significant impact


April 13, 2015


Upcoming Webinars and Events
 

An Afternoon With futures io member TropicalTrader

Elite only
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts