I've paid over $60,000 in commission the last few weeks and im done

[balckagroop]

You'll probably want to compare what kind of markets you're in to the seat price. You'll get better execution and rates with a seat but the cost is what's important.

Wait, could you tell me how you get better execution buying a seat? I thought this was only for lowering exchange fees?

 

[balckagroop]

If you're paying 60K in commies, call the CME directly. Lease a seat there. Then you do not have to worry about brokers.

So they are going to do my order execution, lower my commission outside of exchange fees? Are these two things not completely separate? I think you are wrong but I clearly dont know much

 

[p0box4]

So they are going to do my order execution, lower my commission outside of exchange fees? Are these two things not completely separate? I think you are wrong but I clearly dont know much

You still need a broker and a seat has nothing to do with execution as mentioned above.

 

[Overnight]

So they are going to do my order execution, lower my commission outside of exchange fees? Are these two things not completely separate? I think you are wrong but I clearly dont know much

I do not either. I thought that if you held a seat at an exchange, you traded through the exchange directly, and so did not need the broker middleman. *shrugs*

 

[gaussian]

I do not either. I thought that if you held a seat at an exchange, you traded through the exchange directly, and so did not need the broker middleman. *shrugs*

Same. CME even sells the seats as providing better execution on their website. Maybe it's because you can choose your broker?

 

[They]

TLDR: I want to buy an IOM seat and join JPM Securities or similar (private brokerage if thats the right term) but idk if this is even worth it and what the benefits are vs good retail brokers.

Click a link and call a contact number, try starting with Gelber Group or RJ. O'Brien. All of your questions will be answered by Monday morning.

https://www.cmegroup.com/clearing/f...urveillance/clearing-firms.html#clearingFirms

 

[balckagroop]

Same. CME even sells the seats as providing better execution on their website. Maybe it's because you can choose your broker?

That's weird. Can anyone clarify how CME offers better execution.

 

[balckagroop]

Click a link and call a contact number, try starting with Gelber Group or RJ. O'Brien. All of your questions will be answered by Monday morning.

https://www.cmegroup.com/clearing/f...urveillance/clearing-firms.html#clearingFirms

Any reason I should start with those two? Thanks for your help, and all the people I have not reached out to.

 

[p0box4]

That's weird. Can anyone clarify how CME offers better execution.

There is no better execution ..

 

[balckagroop]

Yea, seat offers lower exchange fees. That seems to be about it. Not lower commission outside of that, not better execution, no platform, no charting software, etc.