IB changing the Quote subscription

soulfire said:
Funny thing is I don't see Ameritrade, Scott Trade, Etrade, or other brokers/ data providers making any similar data price increase announcements.

It seems to me that IB is just using "regulations" as an excuse to hike rates and deflect the blame elsewhere. It's certainly not costing them anywhere close to $4.50/mo to stream NYSE,AMEX, and NASDAQ quotes, and neither is it costing them a "penny per snapshot".

Notice how this extra charge is also "non waiveable" based on commissions generated like the old data bundle package?

They just wanted to milk more money from folks, and the reg change gave them a good opportunity to do it.
More...
Oh please. :rolleyes:

Ameritrade etc. don't charge for the data because they cost $8.95 a trade! Go take a look at IB's commissions for comparison. IB doesn't even require you to buy the data if you don't want to. It's certainly not their fault that they're no longer allowed to offer their BATS feed.

WRT the regulations, they are just so...bizarrely paternalistic. I mean, they've always been a bit paternalistic (see for example the 25k day trading minimum), but this is just bizarre. It's weird enough that it makes me wonder who bribed the regulator. My pet theory is that some major exchange must have been furious at other exchanges like BATS selling their data for cheap, so they wanted to make it so their own data had to be purchased as well by regulation.
 
SoesWasBetter said:
The fees are NOT increasing, I was always paying the 4.50 to get rtq.
More...
I have been paying $4.50/month since 12/2014. I also had the U.S Securities & Futures Value Bundle for Non-Professionals, which I now suspect I may not have needed. I just sent a message to IB asking for clarification. The prompt reply said that I will get streaming quotes for all U.S. stocks, which is what I need. I still don't know whether I need the U.S. Securities Snapshot & Futures Value Bundle for Non-Professionals, but I will try first without it.
 
Zzzz1 said:
That is absolutely not true. Example Bloomberg: every employee flies business class no matter how junior. Every employee stays at top 5 star hotels in every major city on earth where they may fly to to conduct business. Every employee gets a very generous health care plan. Every employee gets ample vacation. They stock their pantries to the hilt with goodies, including fresh fruits (secret: must visit location is Bloomberg Tokyo just for its pantry). They certainly do not strive to drive down costs. At least not beyond certain limits. And Bloomberg is probably one of the best run business in the entire world. Brilliant business model, grave digger like product need, impossible to penetrate product range. Customers who really don't give a shit to pay up for BBG's products. Unparalleled customer service like nowhere else, quite literally.

Cost is only a small part of a thriving business. Most who drive cost down without limit are actually shitty businesses that operate on shaky practices with questionable long term prospects, mostly because their employees have lost all of their loyalty if they ever had any to begin with. Disloyal employees are unmotivated.
More...
Yes, having account with IB is not a right but a privilege.
 
Last edited:
Surgo said:
Oh please. :rolleyes:

Ameritrade etc. don't charge for the data because they cost $8.95 a trade! Go take a look at IB's commissions for comparison. IB doesn't even require you to buy the data if you don't want to. It's certainly not their fault that they're no longer allowed to offer their BATS feed.
More...
I guess trading without data is not a big deal for you.
Ameritrade is charging $6. OptionsHouse is charging $4.95.
 
Since I can't figure out what I need I'll just let the data get canceled and see what doesn't work. (Well, I do but I can't map it to a particular set of checkboxes)
Data subscription changes happen almost immediately anyway.
 
soulfire said:
Funny thing is I don't see Ameritrade, Scott Trade, Etrade, or other brokers/ data providers making any similar data price increase announcements.

It seems to me that IB is just using "regulations" as an excuse to hike rates and deflect the blame elsewhere. It's certainly not costing them anywhere close to $4.50/mo to stream NYSE,AMEX, and NASDAQ quotes, and neither is it costing them a "penny per snapshot".

Notice how this extra charge is also "non waiveable" based on commissions generated like the old data bundle package?

They just wanted to milk more money from folks, and the reg change gave them a good opportunity to do it.
More...

True. But then again they can just straight up charge a maintenance fee per quarter. Or they can raise interest rates. Or they can outright raise commission.
 
So what's the TL & DR instructions then?

What needs to be done to get it back to the old state as it were before? Buy the $4.5 package and now it's the same as before?

I'm not gonna subscribe until after they implement the change to see what changed.
 
gkishot said:
I guess trading without data is not a big deal for you.
Ameritrade is charging $6. OptionsHouse is charging $4.95.
More...
Maybe you're able to negotiate lower commissions or something, but TD Ameritrade on their website advertises $10/trade. OptionsHouse is indeed $4.95, which happens to be 4.95 times what I normally pay per trade on Interactive Brokers.
 
beefcaketrade said:
So what's the TL & DR instructions then?

What needs to be done to get it back to the old state as it were before? Buy the $4.5 package and now it's the same as before?

I'm not gonna subscribe until after they implement the change to see what changed.
More...
The "old state" was a BATS only data feed. You can't go back to that. It's not allowed by the regulators anymore.

If you buy the $4.50 feed (which consists of 3 packages -- NYSE listed quotes, NASDAQ listed quotes, and AMEX listed quotes), you'll get a NBBO from all exchanges. That's a superset of what you had before, which was an NBBO from BATS exchanges.
 
You must log in or register to reply here.
Back
Top