EDI challenges new CME fees as anti-competitive and illegal
- Thread starter ajacobson
- Start date
"...Jonathan Bloch, founder and CEO of EDI, said: "Exchanges appear hell-bent on developing monopolistic practices and they have to be stopped. A couple of exchanges have recently been challenged on the legitimacy of their new fee strategies and, although they won, it is very likely that their practices will be looked at by the DoJ, so I'm sure they're rueing the day they stepped into the courtroom. We would like to see the DoJ review the CME's new plans. Starting in 2021, the CME intends to charge redistributors like EDI $30,000 a year for each of its markets (CME, CBOT, Nymex, and Comex), i.e. a total of $120,000 per year, exerting unnecessary financial pressure on companies already squeezed by the economic downturn caused by the COVID-19 pandemic. We see this as part of a disturbing trend, as exchanges have been introducing new types of fees nearly every year..."
Oh wah wah wah. Jonathan Bloch, if you don't like it, start your own damn exchange. Then you will not have to worry about it, yeah? Otherwise, STFU and write off the extra charge as a business expense. You'll still make your millions selling your, whatever it was you were reselling (order flow?), and will still have that yacht-life.
Whining bitches. Why can't they be happy with their millions? WTF is wrong with them?
Johnny boy needs loons. It will calm down his sweaty palms at the thought of being able to make only 100 million this year, instead of 130 million.
Oh wah wah wah. Jonathan Bloch, if you don't like it, start your own damn exchange. Then you will not have to worry about it, yeah? Otherwise, STFU and write off the extra charge as a business expense. You'll still make your millions selling your, whatever it was you were reselling (order flow?), and will still have that yacht-life.
Whining bitches. Why can't they be happy with their millions? WTF is wrong with them?
Johnny boy needs loons. It will calm down his sweaty palms at the thought of being able to make only 100 million this year, instead of 130 million.
Maybe they are so busy writing code they don’t have time to read!
Now i understand why their support is the way it is. I stopped using them for a while now
anyone who trades should be worried about every penny extra you pay. it needs to ne stopped the problem is you have cme big shareholders also owners of hft and hft is suffering a little due to lots of other companies catching up in speed.
if speed is no longer your edge then you can make higher fees your edge! and this what they will do because cme has a rebate system.
the nfa is also charging a ridiculous tax of 2 cents a side on micro contracts that is almost a nickel a side. when you are an active trader then all of these fees along with bad que position will ensure that you will never successfully make money at short term trading.
the cme is corrupt as hell and anyone whobsays otherwise is clueless and has never dealt with me in any personal capacity as far as trades are concerned.
if speed is no longer your edge then you can make higher fees your edge! and this what they will do because cme has a rebate system.
the nfa is also charging a ridiculous tax of 2 cents a side on micro contracts that is almost a nickel a side. when you are an active trader then all of these fees along with bad que position will ensure that you will never successfully make money at short term trading.
the cme is corrupt as hell and anyone whobsays otherwise is clueless and has never dealt with me in any personal capacity as far as trades are concerned.
the data we are paying for is the data we are creating! thats why its such bullshit also..everyone calling for more fragmented futures markets must not realize that cme volume is real and not hidden unlike stocks.
there are games played with volume..wash trades for sure but for the most part this volume is about as real as it gets.
with multiple exchanges trading say es500 you will be lucky to get a good volume picture.
the hft the cme have been in bed since forever. it is not new news and the whole thing is that well if the cme makes more and hft make the same but everyone else pays the cme more then it is a win win for hft and cme!
forget trading volumes..its about personal profits and the hft is obviously even with all the advances and advantages from a fee and speed point starting to notice some profits being redistributed to the lower majority.
this is the only reason. with memory and switches and trade engines getting cheaper the cme should actually be in a fee deflation period by reducing fees not increasing them but thats why exchanges should never be allowed to go public for profit!! look into the owners of cme stock and also hft firms if u can get that info it will be a sickening wake up
again any trader who is always ok with more fees in any aspect of the mkts needs to be questioned as to if they actually trade and if they do trade then why would they be ok with higher fees period.
it used to be fees changed mYbe once every 10 or 15 years!! not now with record volumes and profits..
hoping for new exchanges is a bad also..the cme needs to be sued in a huge class action by a large law firm with the ability to make a huge chunk of the payouts..
if u really understood what really goes on at the cme you would pull your money immediately. self regulating my ass
there are games played with volume..wash trades for sure but for the most part this volume is about as real as it gets.
with multiple exchanges trading say es500 you will be lucky to get a good volume picture.
the hft the cme have been in bed since forever. it is not new news and the whole thing is that well if the cme makes more and hft make the same but everyone else pays the cme more then it is a win win for hft and cme!
forget trading volumes..its about personal profits and the hft is obviously even with all the advances and advantages from a fee and speed point starting to notice some profits being redistributed to the lower majority.
this is the only reason. with memory and switches and trade engines getting cheaper the cme should actually be in a fee deflation period by reducing fees not increasing them but thats why exchanges should never be allowed to go public for profit!! look into the owners of cme stock and also hft firms if u can get that info it will be a sickening wake up
again any trader who is always ok with more fees in any aspect of the mkts needs to be questioned as to if they actually trade and if they do trade then why would they be ok with higher fees period.
it used to be fees changed mYbe once every 10 or 15 years!! not now with record volumes and profits..
hoping for new exchanges is a bad also..the cme needs to be sued in a huge class action by a large law firm with the ability to make a huge chunk of the payouts..
if u really understood what really goes on at the cme you would pull your money immediately. self regulating my ass