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PROFESSIONAL or NON-PROFESSIONAL
Started: by bobic Views / Replies:2,033 / 25
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PROFESSIONAL or NON-PROFESSIONAL

  #21 (permalink)
Market Wizard
Boca Raton
 
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xplorer View Post
I am just exploring with you the possibility of giving the wording of the CME rules a different interpretation.

I am sorry, this is not my goal. In other words, I am not looking to be "creative".
The procedure I followed in my due diligence was one I would follow if I encountered someone who manages capital for compensation. I would consult with the FCM and the data provider. In this case, both told me that you a pro.
These are people who deal and dealt directly with the CME.

As I suggested, you can consult with your FCM/Broker/Data provider to see if you receive a different info.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #22 (permalink)
Market Wizard
London UK
 
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mattz View Post
I am sorry, this is not my goal. In other words, I am not looking to be "creative".
The procedure I followed in my due diligence was one I would follow if I encountered someone who manages capital for compensation. I would consult with the FCM and the data provider. In this case, both told me that you a pro.
These are people who deal and dealt directly with the CME.

As I suggested, you can consult with your FCM/Broker/Data provider to see if you receive a different info.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Thx for the reply.

As for the suggestion to go to my FCM/IB, I tend to go to them when I have a question on a topic that affects me personally, so in this occasion I'm going to pass.

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  #23 (permalink)
Elite Member
Luxembourg, Luxembourg
 
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It should be noted that all of the exemptions for being "Non-pro" are worded in a way that relates to the individual, i.e. the word "subscriber" is used rather than "account".

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  #24 (permalink)
Market Wizard
Sarasota FL
 
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grausch View Post
It should be noted that all of the exemptions for being "Non-pro" are worded in a way that relates to the individual, i.e. the word "subscriber" is used rather than "account".

I think, as a practical matter, this is probably how it would play out in the real world: if a pro in one situation, you would be treated as a pro in all.

I also think that's the point of the CME policy: I see it as revenue-oriented, or at least as cost-recovery oriented -- they want to get paid for providing the data, and they are looking to hit the ones who need it most (it's their living), and who potentially can pay it the easiest (just a cost of doing business.) "Non-pro" traders may actually make a good living from trading, and actually be "professional" in that sense, but it's not so straightforward to identify them.

I said I was done with this question, but now I think I really am.

Thanks, Matt, and everybody else, too, for helping with it all.

Bob.

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  #25 (permalink)
Trading Apprentice
Melbourne Australia
 
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Futures Edge on FIO

Which products do you trade?

 
Just wanted to double check im reading the CME documentation correctly, if you hold a CME membership they'd consider you Pro for data?

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  #26 (permalink)
Market Wizard
Houston TX
 
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yes

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