New CME fees on multiple platforms? - Traders Hideout | futures io social day trading
futures io futures trading


New CME fees on multiple platforms?
Updated: Views / Replies:3,952 / 38
Created: by SophieM4 Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

New CME fees on multiple platforms?

  #21 (permalink)
Banned: trolling
NYC + NY / USA
 
Futures Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Favorite Futures: EMD, 6J, ZB
 
kronie's Avatar
 
Posts: 798 since Oct 2009
Thanks: 216 given, 498 received


Seahn View Post
If a $15 monthly fee is materially affecting ones profitability then one should rethink trading futures. Just saying....

tick bytes, smaller than mosquito bytes is what they are...

what is disturbing, as so eloquently outlined above, are the pattern and what it portends...

there are already a number of rooms, where traders are matching with so much less stress (both computerized system stress as well as emotional stress), trading actively in their options accounts, and putting to shame, the Emini futures traders...

simply put, when one factors into that equation, that reality, then what I have outlined above takes on a significant competitive quotient, whereas, someone correctly stated earlier, that the CME is doing these "fee adverse actions", because they don't feel they have any competition....

CBOE used to be the latest and greatest, and trumped Equity trading, until the CME downsized their full contracts into mini-sized futures and then further went from pit to electronic based, and they rose. Guess what, perhaps the CBOE and others have learned and are beginning to address this very same "expense equation" and target those same sophissticated trading public with their substantially lower cost-to-carry products..

the game is afoot...

Reply With Quote
 
  #22 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,782 received
Forum Reputation: Legendary


tflanner View Post
I have been a member of. CBOt for 20 plus yrs...

Then you know what a long way we have come in technology, execution, and service.
When I started as a commodity broker in the 90's most could not afford internet,
let alone a quote machine . Today, you have streaming machines with quotes, low latency execution, and the ability to
collocate near the exchange.

The cost of the net went down, and with that you have consistent new interest of traders who may sit on the infrastructure for years before placing one trade if at all. So the CME says, choose your battles (Platform and broker) and don't be all over the place. After all, you can just choose one exchange and one platform pay only $5.

BTW, I am more affected by anyone on this because we will be considered as professional.
Our rates will be X5 as much per exchange, per platform, etc
$85 per exchange as far as I know.

I am not a CME advocate, shareholder or in anyway shape of form get any of the fees they charge.
The key for traders is to focus now, and see how to restructure in lieu of these changes and not
go on and on how unfair. This is the approach I decided to take.

I wish you all a good weekend.

matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
Reply With Quote
The following 3 users say Thank You to mattz for this post:
 
  #23 (permalink)
Banned: trolling
NYC + NY / USA
 
Futures Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Favorite Futures: EMD, 6J, ZB
 
kronie's Avatar
 
Posts: 798 since Oct 2009
Thanks: 216 given, 498 received


sometimes making a point and giving aire to the opposite view is a time consuming but worthwhile effort,

these forums are the place for such enlighten discussions, and hopefully will become part of the response to places like those decision influencers (not decision makers) of these committees, whom feel out of touch and not likely to be reached in committee....


obviously to a trader, whether profitable or not, if complaint over $15 monthly fees are the sole decision making factor, then perhap a larger discussion is in order....

some of us have become ECN members of the CME and/or other exchanges based on the advantages that those membership levels provide....

some of us sophisticated retail traders still have platinum dreams on pauper salaries or how did Lifestyles of the Rich and Famous announcer used to say: "champagne dreams....", simply put, we never forget out meager beginnings, irrespective of where we are at presently....

Reply With Quote
The following 2 users say Thank You to kronie for this post:
 
  #24 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: Advanced
Platform: Ninja
Broker/Data: Ninja
Favorite Futures: ES, Ym, NQ, VTI, SPY, VXUS
 
Posts: 172 since Jan 2013
Thanks: 797 given, 301 received


mattz View Post
Then you know what a long way we have come in technology, execution, and service.
When I started as a commodity broker in the 90's most could not afford internet,
let alone a quote machine . Today, you have streaming machines with quotes, low latency execution, and the ability to
collocate near the exchange.

The cost of the net went down, and with that you have consistent new interest of traders who may sit on the infrastructure for years before placing one trade if at all. So the CME says, choose your battles (Platform and broker) and don't be all over the place. After all, you can just choose one exchange and one platform pay only $5.

BTW, I am more affected by anyone on this because we will be considered as professional.
Our rates will be X5 as much per exchange, per platform, etc
$85 per exchange as far as I know.

I am not a CME advocate, shareholder or in anyway shape of form get any of the fees they charge.
The key for traders is to focus now, and see how to restructure in lieu of these changes and not
go on and on how unfair. This is the approach I decided to take.

I wish you all a good weekend.

matt

Matt-

I worked for JPM on the floor and been trading electronically since 2001. I don't need a history lesson. Just want to see the CME treat retail traders fairly. They have turned into a bunch of Fat Cats....

I made my money in this business...I just know that there are a lot of people they are affecting that are struggling to make it in this business. I don't like to see the little guy squeezed. I was raised in a big family and the wrong side of the tracks....I have a little empathy..... The CME makes plenty of enough money off of retail traders already.

Have a good weekend and please realize that I know that this discussion was a complete waste of my time.

The Market is Smarter than You Are
Reply With Quote
The following 3 users say Thank You to tflanner for this post:
 
  #25 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Ninjatrader / Optimus Futures / AmpFutures
Favorite Futures: ES / 6E / 6B / CL
 
DavidHP's Avatar
 
Posts: 1,002 since Aug 2009
Thanks: 802 given, 1,367 received


mattz View Post
BTW, I am more affected by anyone on this because we will be considered as professional.
Our rates will be X5 as much per exchange, per platform, etc
$85 per exchange as far as I know.

matt

Does this mean that as a professional and you use Ninjatrader with a Rithmic data feed and also use R/Trader as a trading interface you will be charged for 2 professional data fees?
(i.e. $85 for the Ninjatrader login and $85 for the Rithmic login <one exchange pro fee>)

That could get very expensive for the you with multiple exchanges and multiple platforms connecting to the data providers.

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Reply With Quote
 
  #26 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Ninjatrader / Optimus Futures / AmpFutures
Favorite Futures: ES / 6E / 6B / CL
 
DavidHP's Avatar
 
Posts: 1,002 since Aug 2009
Thanks: 802 given, 1,367 received

I trade multiple accounts for friends and family.

I have recently been told that anyone trading multiple accounts via a POA (power of attorney) will be classified as a professional by the CME even though they are a non-pro.

One way I think I can avoid that classification is to trade multiple accounts without the broker POA and broker based block account.

The problem is, to do that I will need to use either R/Trader, CQG Trader, or Ninjatraders Group Account function.
The NT Group accounts have some serious draw backs.
(manually managed stops and targets for each account).

If the CME is going to charge data fees for each login, then that automatically doubles the cost even to if you have a non-pro status and non-pro data fees if I use anything other than NT Account Groups.

If I understand correctly NT8 will have very few (if any) changes to the Account Groups.
(Perhaps it is time for someone to create a C# interface to increase the functionality of the NT Account Groups.)

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Reply With Quote
 
  #27 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,782 received
Forum Reputation: Legendary


DavidHP View Post
Does this mean that as a professional and you use Ninjatrader with a Rithmic data feed and also use R/Trader as a trading interface you will be charged for 2 professional data fees?
(i.e. $85 for the Ninjatrader login and $85 for the Rithmic login <one exchange pro fee>)

That could get very expensive for the you with multiple exchanges and multiple platforms connecting to the data providers.

Since you are not a member, firm-memeber of work for a member FCM or IB, I do believe that you will be charged for 2 screens. Find out via your FCM/IB (where you trade the block account) your full cost.
Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.

Last edited by mattz; October 5th, 2014 at 11:48 AM.
Reply With Quote
 
  #28 (permalink)
Banned: trolling
NYC + NY / USA
 
Futures Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Favorite Futures: EMD, 6J, ZB
 
kronie's Avatar
 
Posts: 798 since Oct 2009
Thanks: 216 given, 498 received


tflanner View Post
Matt-

I worked for JPM on the floor and been trading electronically since 2001. I don't need a history lesson. Just want to see the CME treat retail traders fairly. They have turned into a bunch of Fat Cats....

I made my money in this business...I just know that there are a lot of people they are affecting that are struggling to make it in this business. I don't like to see the little guy squeezed. I was raised in a big family and the wrong side of the tracks....I have a little empathy..... The CME makes plenty of enough money off of retail traders already.

Have a good weekend and please realize that I know that this discussion was a complete waste of my time.

@SophieM4 ....
@tflanner...

Instead of just clicking on the "thank you button", I thought to both tank you(s) in written form, and encourage you to contribute more, and never feel such is not worth our time....

we all benefit, and your comment, proved my point, although it took a few moves on the chess board to accomplish...

the publically traded exchanges have the ability to launch bonds easier than before going publically traded, so any budgetary or long term financing issues would be addressed. I remember learning how IBM taught that lesson to the business community by launching 100 year bonds at some of the most attractive interest rates imagineable. The exchanges not only generate tons of positive cash flow, they also sell services (co-location and other priority services), as well as training sessions, books and exclusive access to their facilities (whether on tours, books or multi-media formats). They create money well beyond their core products, such that they could offer rebates to active customer accounts as a way of encouraging growth amongst those sophisticated retail trading public, instead of finding a way to chase away both active and inactive account holders and consumers of their live data feeds...

just a thought....


Last edited by kronie; October 5th, 2014 at 02:04 PM.
Reply With Quote
The following 2 users say Thank You to kronie for this post:
 
  #29 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,059 since Sep 2010
Thanks: 1,933 given, 2,782 received
Forum Reputation: Legendary


DavidHP View Post
One way I think I can avoid that classification is to trade multiple accounts without the broker POA and broker based block account.

I would discourage you from engaging in activity that is not truthful. If you trade other people's account the responsibility is both on you and the party being traded to report it as such.
I would encourage you possibly to discuss this with the FCM, CME, etc how some of this cost could be absorbed by those who's account is being traded. I am not sure it is possible, however, it is worth while finding out.

Matt

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
Reply With Quote
The following user says Thank You to mattz for this post:
 
  #30 (permalink)
Market Wizard
New Orleans, La (Mardi Gras City)
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Ninjatrader / Optimus Futures / AmpFutures
Favorite Futures: ES / 6E / 6B / CL
 
DavidHP's Avatar
 
Posts: 1,002 since Aug 2009
Thanks: 802 given, 1,367 received



mattz View Post
I would discourage you from engaging in activity that is not truthful. If you trade other people's account the responsibility is both on you and the party being traded to report it as such.
I would encourage you possibly to discuss this with the FCM, CME, etc how some of this cost could be absorbed by those who's account is being traded. I am not sure it is possible, however, it is worth while finding out.

Matt

Thanks for the reply.
However, this is not being untruthful.
Unless something has changed, the regulations allow non-professional traders to trade up to 15 'friends and family' accounts without being classified as a professional.

According to all of the SEC and Commodities Futures Trading Commission regulations I have read, I do not meet the requirements of a Securities Professional. It seems as if the Exchange is attempting to create a rate structure that is not supported by the regulating commissions requirements.

I am not suggesting doing anything illegal.
What seems to be happening is the CME is using the brokers to implement the fee on their clients.
Each login is considered another data charge.
If using RTrader and Ninjatrader together created a significant change in a single users data usage I could understand the need to charge a fee. But we all know the difference in data usage for one account or two into the same broker is almost not measurable.

If I have mis-read this information, I'm sure you will set the record straight, but you ARE a professional.

BTW thanks for the great support you have given me as an Optimus client

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Reply With Quote
The following user says Thank You to DavidHP for this post:

Reply



futures io > > > New CME fees on multiple platforms?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
CME Group Launches CME Direct Technology for Online Trading of Exchange Listed and OT kbit News and Current Events 4 December 26th, 2014 03:51 AM
Suggestions on using multiple monitors when trading multiple instruments Rad4633 Tech Support 46 November 9th, 2014 07:08 PM
CME Group updates market data fees kbit News and Current Events 1 February 19th, 2014 11:56 PM
CME Group Adds Ethanol to Expanded CBOT Grain and Oilseed Trading Hours on CME Globex kbit News and Current Events 0 May 3rd, 2012 07:17 PM
Header:Platforms, Tools and Indicators Big Mike Trading Wiki Header 0 June 27th, 2010 12:54 PM


All times are GMT -4. The time now is 11:44 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.18 seconds with 39 queries on phoenix via your IP 54.234.255.29