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Commissions for ES are killing me!
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Commissions for ES are killing me!

  #11 (permalink)
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Jugador View Post
Any suggestions for cutting my commission costs? ($4.75 rt) Maybe a different market, lease a seat? Any suggestions appreciated.

Jugador, I pay 3.50 for es; where do you trade?

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  #12 (permalink)
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shodson View Post
I have a friend that scalps ES for about 2-3 ticks and is profitable. He lays down so many contracts (50-100) at a time that he gets volume discounts from his broker on commissions. Plus, if you trade, on average, more than 500 cars a month (per side, so 250 cars round-trip) you can qualify for discounted exchange fees as well from the CME that they can pass through your broker. Check with your broker on how to make that happen if you think you can bring the volume.

See pages 3 and 4 of this PDF.

http://www.cmegroup.com/company/files/Q32009-Fee-Change.pdf

This is how the true HFT guys get their exchange fees down to 10% of what we pay. Or, you can just buy a seat on the CME for about $1M, though I'm not sure what advantages that gets you.

Membership Pricing

Very interesting, so that's how my contact get such a low fees without having a seat.

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  #13 (permalink)
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MetalTrade View Post
Very interesting, so that's how my contact get such a low fees without having a seat.


shodson View Post
I have a friend that scalps ES for about 2-3 ticks and is profitable. He lays down so many contracts (50-100) at a time that he gets volume discounts from his broker on commissions. Plus, if you trade, on average, more than 500 cars a month (per side, so 250 cars round-trip) you can qualify for discounted exchange fees as well from the CME that they can pass through your broker. Check with your broker on how to make that happen if you think you can bring the volume.

See pages 3 and 4 of this PDF.

http://www.cmegroup.com/company/files/Q32009-Fee-Change.pdf

This is how the true HFT guys get their exchange fees down to 10% of what we pay. Or, you can just buy a seat on the CME for about $1M, though I'm not sure what advantages that gets you.

Membership Pricing

Is this still available/effective ? Anybody got this with IB as an individual ?
With which broker can you set this up easily ?

right now exchange fees for Es futures (CME Globex) on IB is at 1.14USD per contract and is not tiered (unless you get on an incentive program for hedge funds and prop firm).
This is way less and would be great for my purposes.

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  #14 (permalink)
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qewcool View Post
Is this still available/effective ? Anybody got this with IB as an individual ?
With which broker can you set this up easily ?

right now exchange fees for Es futures (CME Globex) on IB is at 1.14USD per contract and is not tiered (unless you get on an incentive program for hedge funds and prop firm).
This is way less and would be great for my purposes.

Interactive Brokers ES commissions now (Non-Members Tier I)
Fixed
1.14 CME Fee + 0.85 Cost Plus Fixed + 0.02 Regulatory Fees = $2.01 x contract

You can change the Cost Plus Fixed (0.85) part if you trade more than 1,000 contracts/month with Tiered:
1,001-10,000 Contracts = 0.65 = $1.81 x contract
10,001-20,000 Contract = 0.45 = $1.61 x contract
>20,000 Contract = 0.25 = $1.41 x contract

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  #15 (permalink)
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BCNTrader View Post
Interactive Brokers ES commissions now (Non-Members Tier I)
Fixed
1.14 CME Fee + 0.85 Cost Plus Fixed + 0.02 Regulatory Fees = $2.01 x contract

You can change the Cost Plus Fixed (0.85) part if you trade more than 1,000 contracts/month with Tiered:
1,001-10,000 Contracts = 0.65 = $1.81 x contract
10,001-20,000 Contract = 0.45 = $1.61 x contract
>20,000 Contract = 0.25 = $1.41 x contract

Thanks. Yes I was aware of the IB fee structure and the tiered options on the broker side. But wanted to know how easy as an individual it is to lower the commission further on the exchange (CME) side with the above CME fee reduction and if anyone is on it right now.

IB dont mention this anywhere. Maybe other brokers are more forthcoming in helping you get such reduction.

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  #16 (permalink)
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Ops, sorry I misunderstand it.

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  #17 (permalink)
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Looking at this, it's not clear to me from the IB website if the $2.01 is per RT or per side... Anyone know?

forker

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  #18 (permalink)
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forker View Post
Looking at this, it's not clear to me from the IB website if the $2.01 is per RT or per side... Anyone know?

forker

Its per side.

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  #19 (permalink)
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I pay $3.50 a rt, regardless of volume. When I'm trading more heavily (more than 200/day) I know I can get a rate elsewhere for about $3.40 or less, but when I trade less I'd be paying a lot more. At IB according to their tiered system I'd have to trade about 10,000 sides/mo to average $3.50.

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  #20 (permalink)
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VMtrader View Post
I pay $3.50 a rt, regardless of volume. When I'm trading more heavily (more than 200/day) I know I can get a rate elsewhere for about $3.40 or less, but when I trade less I'd be paying a lot more. At IB according to their tiered system I'd have to trade about 10,000 sides/mo to average $3.50.

Why don't you have a seat at the exchange, and save yourself a few thousand a month?

Mike

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