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CME data fee waiver program + NT + IB
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CME data fee waiver program + NT + IB

  #21 (permalink)
 Vendor: www.iqfeed.net 
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Big Mike View Post
But TWS is trade capable, so if was going the IQFeed route NT live license would still not be required. I think.

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Since IQFeed isn't compatible with TWS, it is necessary to go through a 3rd party IQFeed-compatible software like NT, et al. that can place trades with IB.

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  #22 (permalink)
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Robert Carrillo View Post
Since IQFeed isn't compatible with TWS, it is necessary to go through a 3rd party IQFeed-compatible software like NT, et al. that can place trades with IB.

Interesting. I thought the CME only cared that the trader could place trades to give the waiver. I had no idea it was more complicated, imagine that

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  #23 (permalink)
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CME Waiver Clarifications


Jumping onto this thread, as I have a couple of related questions which are still not super clear to me.

Background: I'm using IB + NinjaTrader, and am working on an ATS (which is not yet ready for prime time). I have had my IB account for years and it is funded (and had been trading there manually, just not for several months).

1. For the CME waiver, would I have that already, and have been automatically grandfathered in?
2. If 'no' to '1 above', what specific procedure do I follow to get the waiver? (call IB, or CME, or send a form somewhere? IB's knowledge base did not answer my question, or at least I did not find the answer)
3. Once my ATS is ready, will I have an extra $370/mo (or some other large/ridiculous fee), to trade via ATS vs manually?
4. If it's all as bad as expected, do we have any more reasonable trading venues? (I've seen Forex mentioned on another thread, but I have gotten used to the 'feel' of futures now.)

Thanks!

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  #24 (permalink)
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banf42 View Post
Jumping onto this thread, as I have a couple of related questions which are still not super clear to me.

Background: I'm using IB + NinjaTrader, and am working on an ATS (which is not yet ready for prime time). I have had my IB account for years and it is funded (and had been trading there manually, just not for several months).

1. For the CME waiver, would I have that already, and have been automatically grandfathered in?
2. If 'no' to '1 above', what specific procedure do I follow to get the waiver? (call IB, or CME, or send a form somewhere? IB's knowledge base did not answer my question, or at least I did not find the answer)
3. Once my ATS is ready, will I have an extra $370/mo (or some other large/ridiculous fee), to trade via ATS vs manually?
4. If it's all as bad as expected, do we have any more reasonable trading venues? (I've seen Forex mentioned on another thread, but I have gotten used to the 'feel' of futures now.)

Thanks!

1. Yes you are already grandfathered in. The new fees are already in effect as of Jan 1, 2014.

3. Why would you think you will be paying $370/mo ?

Be Patient and Trade Smart
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  #25 (permalink)
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CME data fees


trendwaves View Post
1. Yes you are already grandfathered in. The new fees are already in effect as of Jan 1, 2014.

3. Why would you think you will be paying $370/mo ?

I had seen the snippet from CME Group updates market data fees, as follows:

Quoting 
User Non-Display License –We will be introducing a reduced rate to a Distributor that is a single user (for avoidance of doubt, this does not include a single user at a firm, but rather a single user subscriber) of non-display market data for purposes of automated trading when market data is received directly from CME Group or through an uncontrolled feed through a third party. The existing Sub-Vendor Access fee and new Category A: Automated Trading System License fee have been combined at a rate of $375 monthly/exchange. The user is required to complete a Market Data License with CME Group and remit license fees to CME directly.
Managed User Non-Display – We will be introducing a reduced rate to a subscriber that is a single user (for avoidance of doubt, this does not include a single user at a firm, but rather a single user subscriber) of non-display market data for purposes of automated trading when they receive market data controlled through a third party provider. The provider of market data is required to have the single user complete a subscriber agreement, report Managed User Non-Display to CME, bill user reduced rate of $170/monthly/exchange and remit back to CME.

To further clarify Category A: Automated Trading System end users who have access to real time information and to functionality provided by the Distributor via their software to use data for automated trading (such as an autospreader) or where the user is provided tools to create their own automated strategy, are liable for real time Subscriber fees only. Access to the display of Information and to the tools for automated trading must be controlled by the data provider, at a user/device ID level.

From the first block of text seems to say someone (not clear to me whether that's IB, or me) would be paying $375/mo/exchange. I would assume if it were IB paying, they would just pass that through to us. On the other hand, the 2nd block seems to say that (using IB TWS or Ninja, or any trade-capable software) the Subscriber only pays the 'regular' fees (slightly increased from what they formerly were, but not in the hundreds per month.

So you (everyone trading via an ATS) is assured that:
- They are already grandfathered in, without needing to explicitly request a fee waiver? (and)
- The above quotes from CME do not indicate we'll be paying extra hundreds of dollars per month?

I normally assume when dealing with either the government, or a for profit entity, things will usually be as bad (or worse) than I can envision them.

Thanks.

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  #26 (permalink)
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banf42 View Post
Jumping onto this thread, as I have a couple of related questions which are still not super clear to me.

Background: I'm using IB + NinjaTrader, and am working on an ATS (which is not yet ready for prime time). I have had my IB account for years and it is funded (and had been trading there manually, just not for several months).

1. For the CME waiver, would I have that already, and have been automatically grandfathered in?
2. If 'no' to '1 above', what specific procedure do I follow to get the waiver? (call IB, or CME, or send a form somewhere? IB's knowledge base did not answer my question, or at least I did not find the answer)
3. Once my ATS is ready, will I have an extra $370/mo (or some other large/ridiculous fee), to trade via ATS vs manually?
4. If it's all as bad as expected, do we have any more reasonable trading venues? (I've seen Forex mentioned on another thread, but I have gotten used to the 'feel' of futures now.)

Thanks!


banf42 View Post
I had seen the snippet from CME Group updates market data fees, as follows:


From the first block of text seems to say someone (not clear to me whether that's IB, or me) would be paying $375/mo/exchange. I would assume if it were IB paying, they would just pass that through to us. On the other hand, the 2nd block seems to say that (using IB TWS or Ninja, or any trade-capable software) the Subscriber only pays the 'regular' fees (slightly increased from what they formerly were, but not in the hundreds per month.

So you (everyone trading via an ATS) is assured that:
- They are already grandfathered in, without needing to explicitly request a fee waiver? (and)
- The above quotes from CME do not indicate we'll be paying extra hundreds of dollars per month?

I normally assume when dealing with either the government, or a for profit entity, things will usually be as bad (or worse) than I can envision them.

Thanks.

Ok I think i see where your concern centers on.

The ATS you are developing runs in NinjaTrader , correct ?

The block quote from CME does not apply to anyone running a Ninja 'strategy' inside the Ninja Trader platform, but applies to an entirely different class of subscriber. The 'non-display automated trading' subscribers they are referring to are custom API trading programs that typically run native proprietary code on servers inside the Aurora Data Center. These are custom solutions that do not use any trading platform (such as Tradestation or NinjaTrader).

Be Patient and Trade Smart
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