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

  #161 (permalink)
Trading Apprentice
Fort Worth, Texas
 
Futures Experience: Advanced
Platform: CTS T4
Broker/Data: Stage5
Favorite Futures: ES
 
Eric B's Avatar
 
Posts: 49 since Jun 2013
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I was under the impression the purpose the 'little guy' served in the futures market was to, in great mass, transfer funds from their accounts to the professional traders' accounts. No wonder no one's looking out for him!

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  #162 (permalink)
Trading for Profit
Atlanta GA USA
 
Futures Experience: Advanced
Platform: thinkorswim/Ninja Trader
Favorite Futures: stock options; ES, TF, 6E, 6J
 
Posts: 208 since Aug 2013
Thanks: 49 given, 199 received

So how did this end up playing out for you that were thinking it could add several thousand dollars to your trading every year?

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  #163 (permalink)
 Vendor: www.cannontrading.com 
Los Angeles, CA /USA
 
Futures Experience: Master
Platform: Sierra, CQG, TransactAT
Favorite Futures: Crude Oil
 
Ilanlm's Avatar
 
Posts: 74 since Mar 2013
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CME Market Data Fee Changes
Effective March 1, 2014

The CME Group has announced significant changes to its existing Market Data Policy and Fees. These changes will be phased in through 2016; with the first phase to be effective on March 1, 2014, as outlined below. The information below focuses on the immediate changes and further information will be distributed on the other changes in the coming months. A copy of the CME's FAQ document on these changes is attached.

After March 1, 2014, NEW CME-market-data subscribers will begin paying monthly fees for CME data, according to the following fee schedule:

“Non-Professional Traders”
$5 per Exchange or $15 monthly bundle for all four (CME, CBOT, NYMEX and COMEX)

“Professional Traders”
$85 per Exchange or $340 monthly for all four Exchanges (NO bundled pricing offered)

In order to qualify for “Non-Professional status”, a Subscriber must, at a minimum, meet the following criteria:
a. the Subscriber must have an active and funded futures trading account;
b. the Subscriber must not be an Exchange Member (or hold or lease any type of Exchange Membership):
c. the Subscriber does not have a primary business purpose that involves trading;
d. the Subscriber must not be registered or qualified as a professional trader or investment adviser with any stock, commodities or futures exchange, or with any regulatory authority, professional association or recognized professional body;
e. the Subscriber must not be affiliated with any entity that is or may be considered a Professional User;

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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  #164 (permalink)
Trading Apprentice
Toronto, Canada
 
Futures Experience: Beginner
Platform: CTS T4
Favorite Futures: TF,YM
 
Posts: 19 since Sep 2011
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i got confirm from Dorman. The fee is really coming. It sucks.

After March 1, 2014, NEW CME-market-data subscribers will begin paying monthly fees for CME data, according to the following fee schedule:



“Non-Professional Traders”

$5 per Exchange or $15 monthly bundle for all four (CME, CBOT, NYMEX and COMEX)



“Professional Traders”

$85 per Exchange or $340 monthly for all four Exchanges (NO bundled pricing offered)

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  #165 (permalink)
Trading Apprentice
Sherman Oaks, CA / USA
 
Futures Experience: Intermediate
Platform: Rithmic / OEC
Broker/Data: Cannon Trading Company / Ninja Trader/Rithmic, E-Futures trading platform
Favorite Futures: Gold and Crude Oil
 
kpab702's Avatar
 
Posts: 46 since Dec 2013
Thanks: 17 given, 10 received

This seems like a significant impact to all new traders who decide to open accounts after March 1, 2014. I believe all existing traders will not have to pay this fee but who knows, things could always change. I read more about this and it looks like the fees could increase through the years. It's going to be interesting to see what happens.


MXTrader View Post
i got confirm from Dorman. The fee is really coming. It sucks.

After March 1, 2014, NEW CME-market-data subscribers will begin paying monthly fees for CME data, according to the following fee schedule:



“Non-Professional Traders”

$5 per Exchange or $15 monthly bundle for all four (CME, CBOT, NYMEX and COMEX)



“Professional Traders”

$85 per Exchange or $340 monthly for all four Exchanges (NO bundled pricing offered)


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  #166 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
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kpab702 View Post
This seems like a significant impact to all new traders who decide to open accounts after March 1, 2014. I believe all existing traders will not have to pay this fee but who knows, things could always change. I read more about this and it looks like the fees could increase through the years. It's going to be interesting to see what happens.

Just heard today from Global Futures that the grandfathering is only until 2015. At that point all traders will pay the fee.

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  #167 (permalink)
Trading Apprentice
Toronto, Canada
 
Futures Experience: Beginner
Platform: CTS T4
Favorite Futures: TF,YM
 
Posts: 19 since Sep 2011
Thanks: 3 given, 5 received

i will consider trade less CME products when they charge me data access fee in 2015. I don't like this CME monopoly attitude. TF in ICE is a good alternative.

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  #168 (permalink)
Trading Apprentice
Sherman Oaks, CA / USA
 
Futures Experience: Intermediate
Platform: Rithmic / OEC
Broker/Data: Cannon Trading Company / Ninja Trader/Rithmic, E-Futures trading platform
Favorite Futures: Gold and Crude Oil
 
kpab702's Avatar
 
Posts: 46 since Dec 2013
Thanks: 17 given, 10 received

Who know's, it could only be a matter of time till ICE jumps on these fees as well and starts charging clients for there market data. But you're right, I feel that the CME charging fees for their market data will really hurt the industry.


MXTrader View Post
i will consider trade less CME products when they charge me data access fee in 2015. I don't like this CME monopoly attitude. TF in ICE is a good alternative.


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  #169 (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

FAQ for 2014 Policy Changes - CME Group

Good news from CME Group regarding individuals (Non-Pros) trading as LLC:

For clarification on LLC and Non-Pro see Page 2, question 2 and

Page 4: I am an individual but have incorporated for tax purposes, am I a professional/non-professional?

http://www.cmegroup.com/market-data/distributor/files/market-data-policy-changes-faq-2014.pdf

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  #170 (permalink)
Elite Member
Amsterdam, The Netherlands
 
Futures Experience: Intermediate
Platform: Sierra, IRT, ToS, Ninja
Broker/Data: Stage 5
Favorite Futures: NQ
 
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Robert Carrillo View Post
Good news from CME Group regarding individuals (Non-Pros) trading as LLC:

For clarification on LLC and Non-Pro see Page 2, question 2 and

Page 4: I am an individual but have incorporated for tax purposes, am I a professional/non-professional?

http://www.cmegroup.com/market-data/distributor/files/market-data-policy-changes-faq-2014.pdf

I hesitate to use the term, but that's pretty much been the holy grail of this whole discussion.

Great news!!

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