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CME Fee changes 2014, significant impact
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CME Fee changes 2014, significant impact

  #141 (permalink)
Elite Member
Luxembourg
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: IB / Kinetick
Favorite Futures: ZN
 
Fadi's Avatar
 
Posts: 482 since Apr 2012
Thanks: 650 given, 625 received

First communication from Kinetick - received the email just now.
It looks like I will have a $5 increase on my basic package starting Jan 1st, 2014.
So from 50$ per month to 55$ per month. And the CME waiver program is still active, so I would still receive the GLOBEX, CBOT, NYMEX and COMEX for free.



Quoting 
Dear Valued Kinetick Subscriber,

Due to data subscription changes directly from our many supported exchanges and enhancements made within the Kinetick infrastructure, exchange fees and the Kinetick Base subscription fee will change effective January 1st, 2014.

Real-time exchange costs for some less commonly traded exchanges, and from the CME Group (CME, CBOT, Nymex and Comex) will be increased. These costs are reflected on the Kinetick Purchase Page at: https://www.kinetick.com/purchase click on “Subscribe” to see new exchange fees.

*Please note that if you are a current participant in the CME Fee Waiver Program these changes will not affect your validation of that program at this time. Any updates will be communicated when available.*

In addition to the billing changes that are necessary from these exchanges, the Kinetick team has also been hard at work to enhance the products and services we offer. These changes will result in an increase of the Basic Kinetick Subscription from $50 to $55 per month effective January 1st, 2014.

Enhancements Include:

· Increased our tick data storage by 50% to 180 calendar days
· Hardware upgrades to improve processing and functionality for historical and real-time data

As each Kinetick user subscribes to different combinations of our many products, each user will be impacted differently based on their unique subscription packages. Please contact us if you have any questions by sending an email to support@kinetick.com

We appreciate your business and your continued support, which has helped make Kinetick the best and most affordable market data vendor available for NinjaTrader. We anticipate a great 2014 and we are excited to continue serving you in the New Year.

Happy Holidays,
The Kinetick Team


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  #142 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,128 since Feb 2012
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Market Profile license fee increase

For everyone using Market Profile in the chart program the fee
increases as well as from Jan 1 2014 as CME is the company
owning all the Market Profile rights.

Read the eMail I got from Linnsoft concerning Market Profile:

"Effective January 1, 2014, the CME has elected to increase the monthly
fee for access to CME Market Profile charting. The CME owns the
copyright and trademark for Market Profile and the graphic format used
to render CME Market Profile Charts. Under our agreement with the CME,
Linn Software collects this fee as part of your monthly software
subscription and remits the per-subscriber fee to the CME. The
increased CME fee of $10/mo. is reflected in Investor/RT Market
Profile pricing effective with the January 1, 2014 billing cycle:

Investor/RT Market Profile Standard Edition - $65/mo.

Investor/RT Market Profile Profession Edition - $85/mo.

Note that Investor/RT Professional monthly licenses continue to be
available for $70/mo. While this edition of Investor/RT does not offer
CME Market Profile charting, there are substantial price and volume
profiling capabilities in this edition by way of the Volume Breakdown
Indicator and the Profile Indicator. Effective January 1, 2014, the
Professional edition of Investor/RT will provide access to the TPO
Indicator as well. Many of our clients have found that the market
profiling capabilities of the Investor/RT Professional edition are
sufficient for their profile analysis work and have taken advantage of
its lower monthly pricing. If you wish to revise your subscription, go
to File > License... and click the Revise License button. License
revisions go into effect immediately. License revisions should be
made on or before December 30, 2013 so that we can revise your monthly
billing rate accordingly. If you have questions or need assistance
please open a support ticket at http://support.linnsoft.com."

GFIs1

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  #143 (permalink)
 Vendor: tradingcode.net 
The Netherlands
 
Futures Experience: None
Platform: MultiCharts, TradingView
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Robert Carrillo View Post
(...)
My thinking is that if one is now getting Globex data and doesn't have waivers, it might make sense to get waivers prior to Mar 2014 cutoff. It may mean opening a minimally funded account with a different broker who participates in the program and supports your software. If you are using a software you can't trade through, like Ensign for example, It may mean having an additional (trade-capable & supported by your participating broker) software running in the background and being fed by same data feed so you can get waivers.
(....)

Just thinking along for people who might want to do that: the free MultiCharts .NET starter edition can receive real-time data and let's the user submit trades. Just saying since I'm not sure if a free platform like NinjaTrader that does not allow trades to be placed is what CME considers a platform suitable for waivers.

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  #144 (permalink)
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columbus OH/USA
 
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GFIs1 View Post
For everyone using Market Profile in the chart program the fee
increases as well as from Jan 1 2014 as CME is the company
owning all the Market Profile rights.
......
GFIs1

Thanks GFIs1! I wasn't aware of this copyright, but they are claiming it: http://www.cmegroup.com/market-data/distributor/files/schedule-6-cme-mlda.pdf
MARKET PROFILE FEES.
Distributor must pay to CME the following Market Profile Fees: $7.00 per month per Customer per terminal.

How can someone copyright was is essentially an histogram of volume is beyond me....
Hopefully, volume profile is copyright free...

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  #145 (permalink)
 Vendor: www.iqfeed.net 
Omaha NE
 
Futures Experience: Intermediate
Platform: IQFeed compatible
Favorite Futures: ES
 
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Jura View Post
Just thinking along for people who might want to do that: the free MultiCharts .NET starter edition can receive real-time data and let's the user submit trades. Just saying since I'm not sure if a free platform like NinjaTrader that does not allow trades to be placed is what CME considers a platform suitable for waivers.

Thanks Jura, I wasn't aware that the free edition of MC allows live trades (up to two symbols it says). That's good to know.

Robert

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  #146 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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CME Rate Change!
I have asked myself “What has led the CME to go down this path? Why now and did they really overlook something that brokers and FCMs are opening their eyes to? I attempt to answer it here.

I am not a spokesperson for the CME; and I am not defending their positions, rather I try to be an objective voice in these not so great circumstances that are about to be imposed on us. This is purely my opinion.
CME has very strong analytical team who has considered the implications of the cost increase and the impact on trading, and they must have come to the conclusion that the fee increase will not affect their business.

Reasons for increase in clearing Rate.
Increase in regulatory cost as a result of the collapse of large firms like MF Global.
Nowadays, exchanges need to build better safe guards along with contingency plans in case another institutional meltdown will occur. The NFA has also increased their cost from 2 to 4 cents a few years back as their cost of supervising and monitoring has increased substantially both in terms of manpower and in terms of technology.
Additionally, technology cost has gone up tremendously as algos and HFTs require solid infrastructure. CME is not only a clearer of Futures, but of SWAPS, clearport, etc building a bigger and better infrastructure has its cost.

Reasons for increase data fees.
Besides the revenue side of clearing, there is revenue as a result of distribution of data. The number of users for data goes up while their revenue for data distribution goes down. Why? In one simple term: Many users that “consume” data, don’t trade. Whether demo or real accounts that don’t trade, they (CME) incurs a cost of data distribution. Bandwidth has its limits.
Every business (sadly) needs to factor many circumstances that have nothing to do with its customers. CME is no different.

The rates increase as I understood it so far. Please conduct your own due diligence to verify all facts on your own. This is merely here as informational and not factual. CME may or may not change certain fees.

$15 increase in user/device feed per exchange ($85 per exchange), for those who don’t fall under the trading waiver .

2014 Will be grandfathered for those under the trading waiver. If you are currently an active trader, you considered to have a waiver. If you are a new trader who has opened an account after March 1, 2014 you will be paying $85 per exchange. If you opened it before March 1, 2014 you will continue to be waived until 2015, however will pay half the cost until the end of 2015 ($42.5).

After 2015 all traders now will pay for market data. New Traders will pay $85 per exchange per month per platform. No comment on 2016.

Those who require black box connectivity for automation of trades /$670 per month per exchange. This does not include automated strategy on Ninja or Multi, etc this for a non-display algos.

Brokers (considered professional) will pay $85 per exchange used.

Corporate, LLC accounts, etc will be charged $85 per exchange and $85 per platform/Per Month. Broker clients could potentially qualify as non pro accounts. CME Group lists this criterion below.
For your convenience here are additional tools:
Notice: http://www.cmegroup.com/market-data/distributor/files/market-data-policy-changes-2014.pdf
FAQ Link: http://www.cmegroup.com/market-data/distributor/files/market-data-policy-changes-faq-2014.pdf

I understand the rate increase in lieu of technology, regulation and data feed. However, here is the absurd of it all: Those who trade will incur the cost as a result of those who don’t trade. Those who don’t trade don’t care. Those who trade, suffer.
For example, inactivity fees/data fees should be imposed from the exchanges on those who don’t trade, not on those who provide liquidity. This will avoid the “quote junkies” running from broker to another asking for a demo.

Why should active customers absorb the cost of the CME, while those who sit there and chart “spaghetti fights” have zero cost? That is the unfair part! Maybe there is a regulatory issue that prevents the CME from doing so, but I don’t know. We shall see how this saga evolves.

Thank you,
Matt
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  #147 (permalink)
 Vendor: www.iqfeed.net 
Omaha NE
 
Futures Experience: Intermediate
Platform: IQFeed compatible
Favorite Futures: ES
 
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Posts: 271 since Jun 2012
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Jura View Post
...I'm not sure if a free platform like NinjaTrader that does not allow trades to be placed is what CME considers a platform suitable for waivers.

Jura,

I didn't reply to your comment/question. The answer is no, it is not suitable. You need to be able to make live trades.

BTW, thanks again for mentioning the free MC Starter Edition which does allow live trades. A customer starting his IQFeed trial yesterday is using Ensign and has an IB account. I directed him to the free MC, we set it up with IQFeed and IB, and have it running in the background to Ensign. He now has waivers.

Robert

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  #148 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
Favorite Futures: ES
 
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Robert Carrillo View Post
Jura,

I didn't reply to your comment/question. The answer is no, it is not suitable. You need to be able to make live trades.

BTW, thanks again for mentioning the free MC Starter Edition which does allow live trades. A customer starting his IQFeed trial yesterday is using Ensign and has an IB account. I directed him to the free MC, we set it up with IQFeed and IB, and have it running in the background to Ensign. He now has waivers.

Robert

I would like to clarify this. NinjaTrader has a free live trading version available through CQG, Zen-Fire and BigTick.

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  #149 (permalink)
 Vendor: www.iqfeed.net 
Omaha NE
 
Futures Experience: Intermediate
Platform: IQFeed compatible
Favorite Futures: ES
 
Robert Carrillo's Avatar
 
Posts: 271 since Jun 2012
Thanks: 234 given, 374 received


NinjaTrader View Post
I would like to clarify this. NinjaTrader has a free live trading version available through CQG, Zen-Fire and BigTick.

Thank you for clarifying, Ray. I didn't mean to imply that free NT doesn't qualify, only that a software that can't make live trades doesn't qualify.

Robert

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  #150 (permalink)
Elite Member
Frankfurt, Germany
 
Futures Experience: Advanced
Platform: TT
Broker/Data: Advantage Futures
Favorite Futures: Futures
 
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mattz View Post
$15 increase in user/device feed per exchange ($85 per exchange), for those who don’t fall under the trading waiver .

15$ is the bundled package not per exchange:
http://www.cmegroup.com/market-data/distributor/files/market-data-policy-changes-2014.pdf

"Non-Professional subscribers may elect either option on a
per-exchange basis or, as a bundled package, which would include all four of CME Group’s exchanges"

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