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Commission Structure
- Thread starter CoolTrader
- Start date
Craigross,
I looked it up on CME website. Here is the link:
http://www.cme.com/risk_management/clearing_house/fees.cfm
What are you talking about? We trade 1,000 to 10,000 contracts a day, if those are your fees send me a PM and we can talk. If you lease a seat you can get into the numbers you are saying, otherwise what are you talking about.
I looked it up on CME website. Here is the link:
http://www.cme.com/risk_management/clearing_house/fees.cfm
What are you talking about? We trade 1,000 to 10,000 contracts a day, if those are your fees send me a PM and we can talk. If you lease a seat you can get into the numbers you are saying, otherwise what are you talking about.
Craigross:
Do the dance to:
http://www.cme.com/risk_management/clearing_house/fees.cfm
and see that round turn customer fees for emini trades are $2.28. Clearing fees ($.39) are only a small part of the total Globex round turn. metooxx is right on the money. If a broker (ApexFutures.com) can't get the fees right, what else can't they get right?
Thanks for playing!
Do the dance to:
http://www.cme.com/risk_management/clearing_house/fees.cfm
and see that round turn customer fees for emini trades are $2.28. Clearing fees ($.39) are only a small part of the total Globex round turn. metooxx is right on the money. If a broker (ApexFutures.com) can't get the fees right, what else can't they get right?
Thanks for playing!
Quoted from my post long time ago,
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Have a look at this link:
http://www.cme.com/risk_management/..._house/fees.cfm
and this:
http://www.cme.com/risk_management/...learingfees.cfm
Note that the $0.65/round-turn is only when an equity member has executed an order for his/her own account or another equity member's account, or for proprietary accounts etc. under certain conditions. For us (sorry, for me) it's $2.28/round-turn. And there are other fees, and development/maintenance/operating costs, etc. And of course an atractive profit factor.
I think IB's $4.8/round-turn all inclusive is competitive and reasonable. With scale of economics, auto offset policy, cost down via least human intervention, and sound management (I think so, but I don't testify it), IB will achieve a handsome profit with such a low fees.
Of course room is there for IB to further cut its rate for e-mini's to $3.9/rt ($1.95 per side) while still profitable. [and so 300RT/mo save us eSignal, 600RT/mo for a basic CQG/NET). Any lower rates for general customer accounts without high threshold is unbelievable, and insignificant to trading profitability. In fact for rates below $5/rt all-inclusive, other elements such as stability, efficiency and financial solidness dominate our considerations to choose a broker/platform.
I think it's the exchange to cut down the clearing & execution fees to at least 35% off, and market data fees to nominal for non-pro, that will most benefit the whole industry.
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The original thread is http://www.elitetrader.com/vb/showthread.php?s=&threadid=3721&highlight=SciTrader
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Have a look at this link:
http://www.cme.com/risk_management/..._house/fees.cfm
and this:
http://www.cme.com/risk_management/...learingfees.cfm
Note that the $0.65/round-turn is only when an equity member has executed an order for his/her own account or another equity member's account, or for proprietary accounts etc. under certain conditions. For us (sorry, for me) it's $2.28/round-turn. And there are other fees, and development/maintenance/operating costs, etc. And of course an atractive profit factor.
I think IB's $4.8/round-turn all inclusive is competitive and reasonable. With scale of economics, auto offset policy, cost down via least human intervention, and sound management (I think so, but I don't testify it), IB will achieve a handsome profit with such a low fees.
Of course room is there for IB to further cut its rate for e-mini's to $3.9/rt ($1.95 per side) while still profitable. [and so 300RT/mo save us eSignal, 600RT/mo for a basic CQG/NET). Any lower rates for general customer accounts without high threshold is unbelievable, and insignificant to trading profitability. In fact for rates below $5/rt all-inclusive, other elements such as stability, efficiency and financial solidness dominate our considerations to choose a broker/platform.
I think it's the exchange to cut down the clearing & execution fees to at least 35% off, and market data fees to nominal for non-pro, that will most benefit the whole industry.
-----------------------------------------------------------------------------------
The original thread is http://www.elitetrader.com/vb/showthread.php?s=&threadid=3721&highlight=SciTrader
Originally posted by metooxx
Craigross,
I looked it up on CME website. Here is the link:
http://www.cme.com/risk_management/clearing_house/fees.cfm
What are you talking about? We trade 1,000 to 10,000 contracts a day, if those are your fees send me a PM and we can talk. If you lease a seat you can get into the numbers you are saying, otherwise what are you talking about.
metooxx,
I see from that previous thread that you pay $2.64 r/t.
Do you actually have to become an employee/ owner of the clearing firm to get this rate? or are you leasing a seat? if so is the leasing fee built in to $2.64? What kind of mimum numbers justify that kind of setup in your opinion?
Thanks.
Originally posted by Cdntrader
metooxx,
I see from that previous thread that you pay $2.64 r/t.
Do you actually have to become an employee/ owner of the clearing firm to get this rate? or are you leasing a seat? if so is the leasing fee built in to $2.64? What kind of minimum numbers justify that kind of setup in your opinion?
Thanks.
No, you don't need to be an employee or owner of a clearing firm, just a lot of volume.
We are not leasing a seat, if we were, we would be paying $1.40 less a RT. We reconsider leasing a seat on a monthly basis, the $4,000 a month or so lease payment would be offset in a day or so for us, however, it would force us into "professional status", which would be detrimental to our trading in other markets. As soon as they change some of the regulations we obviously will be doing that.
If you want to talk specifically about who or where, send me your phone number and we can talk.
Originally posted by metooxx
No, you don't need to be an employee or owner of a clearing firm, just a lot of volume.
We are not leasing a seat, if we were, we would be paying $1.40 less a RT. We reconsider leasing a seat on a monthly basis, the $4,000 a month or so lease payment would be offset in a day or so for us, however, it would force us into "professional status", which would be detrimental to our trading in other markets. As soon as they change some of the regulations we obviously will be doing that.
If you want to talk specifically about who or where, send me your phone number and we can talk.
Oh ok you must be using someone like Gelber or GNI. I have seen those .20/side + fees for large vols. I was confused because I saw you reference something to do with being a professional trader which made me think of the typical "prop" firms like Bright .
Originally posted by metooxx
Neither of them, but you got the right idea. We are a private trading company.
Metoox:
Are you a 106H or J firm?
Do you lease a globex terminal?
If so what are the particulars with that?
are you discentionary or systematic traders, if systematic how do you automate your trades?
thanks
Net