nymex seat lease for cheapest round turns

[londonkid]

Can the experienced help me out on how to get cheap round turns in CL futures. Trading oil spreads with 2, 4, 6, 8 legs.

so far offered $1.50 all in round trip via UK prop firm. £25k min account. £500pm software fee, £350pm remote connection fee

interactive brokers. 50c round trip commission > 20k volume per month. Nymex seat lease $700pm clearing $1.10 round trip (day only $1.40 overnight). No software fee.

Surely some traders must be getting lower round trip costs? The ES contract has large % volume discounts applied hence some have like 50c round trip cost all in. This % volume discount doesn't seem to be available for nymex products.

Is it really the case that nobody is getting sub $1 round trips in oil futures. I find that hard to believe.

Thanks

 

[trendmomentum]

It's all in the volume. Check this. http://www.dailymail.co.uk/news/art...-firm-Belize-City-watchdog-says-buy-rest.html

 

[londonkid]

doesn't make sense to me, if you lease a seat for ES futures you get 26c a side clearing fees and huge volume discount (see attached). Do 151+ round turns per day average and you get a discount off that of 18.5c so thats 15c per round trip clearing fees for not a lot of volume. Compare that with the 50c clearing per side for NYMEX with no volume discounts.

maybe i need to phone the nymex volume discount department.

 

[just21]

You can get member discount with interactive brokers. Contact the exchange, buy/lease seat, email memberpricing [at] interactivebrokers.com to get the member discount applied to your account. Sign up for tiered pricing https://www.interactivebrokers.com/en/index.php?f=commission&p=futures2
You do not have to use IB tws either.

http://www.deepdiscounttrading.com/ $1.26 or less for exchange members.

 

[londonkid]

Thanks for the replies and for the pm's. As I suspected round trip costs go much lower.

 

[HockeyPlayer]

> Is it really the case that nobody is getting sub $1 round trips in oil futures. I find that hard to believe.

Member day rate is $.55/side, so you are looking at $1.10 round trip before you pay for clearing. And that requires a full NYMEX membership.

 

[bone]

Hey, the CME has an accelerated ROI schedule on that Nymex purchase....

Most guys in your situation lease a seat for Member rates in Nymex.

 

[londonkid]

A belated thanks to the member who helped me out and confirmed that some traders out there are paying way less than a $1 all in round trip. I knew it has to be the case given the strategies I see being worked. The member asked for anonymity and to not post details in public.

 

[kody b]

londonkid, what was your conclusion, what was the lowest all in round trip that you found for crude? need to lease seat at nymex to accomplish?

 

[Robert Morse]

kody b,

The CME makes it very easy to see what you options are and what they cost. Just go to their website and view the lease prices and fee differences.

Bob