CME with full dept of market data fee(6E, 6B,...) with discount as non-professional? - futures io
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CME with full dept of market data fee(6E, 6B,...) with discount as non-professional?


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CME with full dept of market data fee(6E, 6B,...) with discount as non-professional?

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  #1 (permalink)
Blonde
Luxembourg, LU
 
 
Posts: 116 since May 2020
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Hiya,



I use Interactive brokers and I have questions below:

1- I'm looking for best of the best possible solution to get the CME with full dept of market data fee(6E, 6B,...) with a discount as non-professional? May please advise me if I can get the data from CME directly, or through companies like Rithmic, DXfeed or Bookmap if it's better to get this data?

2- How much is the discounted data fee as non-professional for Futures Currencies from CME(6E,
6B, 6A, 6N, 6J, 6S, 6C)?

3- I have few platforms and I may be required to connect one of them to the CME futures currencies data at a time as based on what I heard, the data feed providers does not allow to connect multiple platforms even from one single PC/Laptop to the single data feeds?
I have platforms of NT8, Motivewave Ultimate, Multicharts 14 and considering maybe purchasing Bookmap Global and Jigsaw independent soon. It would be nice if I can connect all of them to the data feeds for Futures currencies data, but I may be needed to connect them one at a time if I purchase data feeds from data providers that putting restrictions on data connectivity limits to a single platform only. Is there any solution for this, please?


Tnx and best of luck

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 matthew28 
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The currencies are all on one exchange, the CME, so around $11 a month for full depth as a non-professional. You can't sign up directly with the CME. as a retail trader you go to one of the brokers or data feed companies that has a business relationship with the CME.
Cheapest way is open an account with a broker that has no non-activity fee, deposit the minimum balance, then pay your data fee and you have the charts.
I think as a non-professional you are allowed to make a maximum of three connections so one use the Ninjatrader brokerage account to run the Ninjatrader platform, and then those log in details could also be used in Bookmap and Jigsaw (I think as I have done that before with a Ninjatrader login on Rithmic data).

Or you sign up to DTN IQFeed for example which downloads the CME data to a program on your computer and then you could connect run Bookmap, Jigsaw or any of the other programs that DTN will work with to that without a limit on numbers. That will work out at about $150 a month maybe a touch less.

Of the platforms you have mentioned I am only familiar with Ninjatrader, Bookmap and Jigsaw as I have used each of them at some point. I don't know the others. Using so many platforms seems like overkill though. Bookmap for instance is good if you want a good heatmap chart, Jigsaw is better if you want a good DOM. Just my opinion though if you find value in them all.

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Blonde
Luxembourg, LU
 
 
Posts: 116 since May 2020
Thanks: 94 given, 13 received



matthew28 View Post
The currencies are all on one exchange, the CME, so around $11 a month for full depth as a non-professional. You can't sign up directly with the CME. as a retail trader you go to one of the brokers or data feed companies that has a business relationship with the CME.
Cheapest way is open an account with a broker that has no non-activity fee, deposit the minimum balance, then pay your data fee and you have the charts.
I think as a non-professional you are allowed to make a maximum of three connections so one use the Ninjatrader brokerage account to run the Ninjatrader platform, and then those log in details could also be used in Bookmap and Jigsaw (I think as I have done that before with a Ninjatrader login on Rithmic data).

Or you sign up to DTN IQFeed for example which downloads the CME data to a program on your computer and then you could connect run Bookmap, Jigsaw or any of the other programs that DTN will work with to that without a limit on numbers. That will work out at about $150 a month maybe a touch less.

Of the platforms you have mentioned I am only familiar with Ninjatrader, Bookmap and Jigsaw as I have used each of them at some point. I don't know the others. Using so many platforms seems like overkill though. Bookmap for instance is good if you want a good heatmap chart, Jigsaw is better if you want a good DOM. Just my opinion though if you find value in them all.



Hiya @matthew28



Thanks. 1- I think there is a 49.99USD Rithmic initial basic monthly fee that sums up with 11USD for CME and 2USD for the top of book data, overall 62.99USD total. Also, I'm not sure if this price is final or maybe an official discount can be applicable for some users based on something I heard but I don't remember exactly how it applied to this discount scheme.

2- Regarding 'Cheapest way is open an account with a broker that has no non-activity fee, deposit the minimum balance, then pay your data fee and you have the charts.'> Will these brokers that offering CME futures data, does have the full depth of market or top of the book or both access options as well?

3- Regarding 'I think as a non-professional you are allowed to make a maximum of three connections so one use the Ninjatrader brokerage account to run the Ninjatrader platform, and then those log in details could also be used in Bookmap and Jigsaw (I think as I have done that before with a Ninjatrader login on Rithmic data).'> I'm confused if I use R-trader-pro plugin enabled option, will I be able to connect two other platforms from my five platforms of Ninjatrader 8, Multicharts 14, Motivewave Ultimate, Bookmap Global (Plus), Jigsaw Independent or just one of these platforms can be connected as a maximum while using the R-trader-pro plugin enabled option, please advise?

4- Regarding 'Or you sign up to DTN IQFeed for example which downloads the CME data to a program on your computer and then you could connect run Bookmap, Jigsaw or any of the other programs that DTN will work with to that without a limit on numbers. That will work out at about $150 a month maybe a touch less.'> I know the IQfeed have a decent data feed, and I believe I can connect all of my five platforms on a single data feeds, but their dept of market feed Is neither complete and nor full depth of market data feed if you know what I mean, please?


Tnx and best of luck

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 matthew28 
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1. As you say that $50 is a Rithmic fee for their data or platform. If you choose Rithmic then you will pay that. CME is either $2 for the top of book, so just the inside bid and offer (1 level of depth), as well as the transacted volume, or $11 for the full book. So you pay $2 or $11, not both.

2. The same CME book data is available to everybody, it is a central exchange. Rithmic choose to send out all the available data to their traders, other companies send out as much as they choose to do. I imagine most companies still send out ten levels of depth because that is what they have done for years and sending full depth must markedly increase the amount of data being sent and I presume that can add the likelihood of level2 data lagging in fast market conditions. As well as just the additional volume of data being sent through their servers. The two big brokerage data providers are Rithmic and CQG. Then some platform like X-Trader have their own feeds, same as CTS T4.
If you want full Rithmic depth you choose a broker that provides Rithmic data.

3. If it is two connections it is two platforms logged in and connected to their data at the same time, whatever the platforms are (or maybe it is three, I am not sure which but the broker would tell you).

4. DTN IQFeed have a very good reputation. It isn't the full book but I believe that is only available on a few instruments anyway such as the ES. Also in reality for most people it is not really relevant. The full book is only useful if using a heatmap chart like Bookmap and then with the chart zoomed out to show a big picture view you can see large orderbook interest a long way from current price and see if it remains there all day.

But in reality it doesn't matter if there is a large order a long way away, and nobody places large orders a long way off the market and then moves them around or cancels them trying to influence the market because it is too far away. Also you probably wouldn't be trading trying to fade a level on the first touch so what probably matters more is if price say comes down to a level, you see what is in the book there, price bounces up then comes back down and you see whether there is more in the book on the second visit of price, are: traders adding to the book, is there heavy absorption, or are orders being pulled so that price is likely to at least initially drop lower.

I am not up to date on all this but I know for instance Bookmap has some indicators related to MBO data? I think that is what it is called, which is available with the Rithmic data feed, which I believe is supposed to be important for seeing icebergs or stop runs. But other people would say they could see that on a DOM, or on a chart with a Cumulative Delta indicator, or using a footprint chart.

IMHO it is all 'horses for courses'. If you have done your research and think a certain data feature such as extended depth or MBO data (if that is the correct name), are actually important and will help, then you pay for that data/platform. If you don't think it will add anything for you then don't pay for it.

None of this is trading advice, I am not consistently profitable, but they say that new traders start off with lots of platforms and searching for the perfect indicator combination, then as they gain experience they reduce the amount of stuff they look at until they end up with a fairly simple layout.

It depends of course on whether you are daytrading one instrument or swing trading a number of products, or filtering through hundreds of stocks, but at the end of the day we are simply deciding whether we have more probability of making a profit at a point in time buy either pressing the buy or the sell button. That's it, the simpler and fewer the number of factors involved in that decision (number of indicators, different timeframes, platforms/charts/DOMS/Heatmaps), the more likely it seems to me one can quickly make a decision and accept the risk and accept that losses happen. Otherwise it all becomes a quest for more information to give the perfect answer in all scenarios and trying to eliminate losing trades which is unrealistic.

I have drifted off topic. Good luck anyway.

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