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

  #41 (permalink)
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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.)

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  #42 (permalink)
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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:

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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.

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  #43 (permalink)
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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,
.....


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  #44 (permalink)
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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.

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  #45 (permalink)
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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.

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

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


Last edited by Balanar; December 4th, 2013 at 04:41 AM.
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  #46 (permalink)
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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.

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Last edited by Big Mike; December 4th, 2013 at 07:08 AM. Reason: fixed math
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  #47 (permalink)
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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

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  #48 (permalink)
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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

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  #49 (permalink)
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Would you start a separate thread in Brokers section for this, it deserves its own topic.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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  #50 (permalink)
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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. )

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