Enormous charges for data coming?

RaAt2 said:
Tradovate, a vendor here, also offers zero commissions and free data. How do they make money?.
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They sell your order to a market maker who only fills you when they can make a tick on your order.
 
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just21 said:
They sell your order to a market maker who only fills you when they can make a tick on your order.
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In futures?. That's illegal, I believe. All trades must execute on the exchange servers.
 
Zzzz1 said:
Exactly, at least for now. And a few FCMs pee their panties and almost get a heart attack while others push back and clearly tell the NYSE "listen guys, get your house in order, with this crap you will eventually lose all our business to other exchanges". Voila, all of a sudden the pressure is gone, the company is not pressured anymore, at least for the time being. That is exactly how I imagine this to go down.
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I agree. If an exchange really tried to impose higher fees for data, it will have a negative impact on liquidity (how much of an effect...not sure), but if costs of trading increase, liquidity will go elsewhere and the exchange will eventually die unless they can offer something that the other exchanges cannot.

I don't understand this...trading volumes are lower than they were in 2008 / 2008 (http://www.marketwatch.com/story/why-trading-volume-is-tumbling-explained-in-5-charts-2014-07-07) and technology / storage have continued advancing over that time period. So therefore, the cost of providing data should be less today than a decade ago. I don't understand the justification other than that they think they can get away with it. Maybe retail is such a small part of their business that they think they can squeeze them without much impact.
 
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Zzzz1 said:
I just think how NYSE tried to fleece everyone was incredible cheap and disingenuous. The CEO should get fired over this after all is said and done. A horrible way to do business and damaging to all stakeholders.
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NYSE are owned by ICE.

A year or two ago ICE upped their Futures data fees.

I went from paying not much to paying $240 a month ($120 each for Russell 2K and FTSE 100 futures real time data).

ICE does not distinguish between retail and professional when selling real time data for futures.
Everyone has to pay the pro rate. And they do not offer level 1, you have to buy level 2/market depth as its the only option.

I remember some idiot posters on ET, saying 'well if you cant afford a few hundred a month you cant afford to trade'.

But I knew the greedy ICE cunts are after as much as they can get. And they will eventually try and get even more, thousands a month if they can get away with it. And this non display attack seems to be an attempt at that.

I stopped trading the ICE FTSE 100 futures and moved to the DAX on eurex.

And the Russell 2K is moving back to the CME in a few months.

Soon the cunts at ICE are going to get $zero a month from me.
 
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I saw that too. I agree with you. Though let's be honest, one who makes a bundle trading certain instruments might be agitated but still swallow those cost you mentioned. But definitely the barriers to entry for retail are raised. I side with you in saying that a data feed for a few exchange traded products is too high when it costs the same than access to an institutional grade Dow Jones news feed which gives me content from hundreds/thousands of journalists and other sources. Just relatively speaking. Heck, many banks are cracking down on WSJ subscriptions by directors and up, who charge it to banks.

southall said:
NYSE are owned by ICE.

A year or two ago ICE upped their Futures data fees.

I went from paying not much to paying $240 a month ($120 each for Russell 2K and FTSE 100 futures).

ICE does not distinguish between retail and professional when selling real time data for futures.
Everyone has to pay the pro rate.

I remember some idiot posters on ET, saying 'well if you cant afford a few hundred a month you cant afford to trade'. But I knew the greedy ICE cunts were after as much as they could get. And they will eventually try and get as much as possible, thousands a month if they can get away with it.

I stopped trading the ICE FTSE 100 futures and moved to the DAX on eurex.

And the Russell is moving to the CME in a few months.

Soon the cunts at ICE are going to get $zero a month from me.
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