Sierrachart annoyed with data fees and intend to rock the boat

[cole_]

Say you make $8000 a month...$400 a month in (unnecessary?) fees is 5% of your gross.

Put it another way, would you be happy if there were additional monthly taxes on trading profits and losses of 5%?

amp charges 15 dollars for all cme markets

 

[cole_]

how the hell is there a price surge milli-seconds before a major news release timing.

because people bought or sold?

 

[Visaria]

amp charges 15 dollars for all cme markets

IB charges $10. I was quoting the guy who said $400 a month.

 

[truetype]

https://www.sierrachart.com/SupportBoard.php?ThreadID=22707

LOL -- sounds like ET -- "We had another case of a potential user from China, who probably sent in a total of 30 messages by email and on this Support Board wanting Real-time CME futures data cheaply."

 

[Metamega]

amp charges 15 dollars for all cme markets

Brokerage data fees and data vendor fees are a complete different. Sierra chart is just software that you can plug your brokerage into which would give you the brokerages data feed( perhaps with limitations).

http://www.iqfeed.net/index.cfm?displayaction=data&section=fees

That’s a good reference for exchange fees for just data.

They don’t mark these up, these are straight from exchanges.

You want ICE, CME, perhaps COMEX or EUREX, maybe some CBOT, it quickly adds up to 400$.


Non-display fees is another outrageous gimmick as well.

 

[Handle123]

you will be making and losing thousands of dollars a month if you trade futures

I can't see what difference a $100 -$400 fee makes tbh

I don't see the difference between Walmart and Exchanges, they both selling prices, but when was the last time you went to Walmart and had to pay to see the price of anything. Exchanges has contracts we buy and sell, Walmart has cash products to buy immediately, we take them home and use, if we don't like them, we sell them back to Walmart and if you don't have a receipt, it possible to sell back at a loss.

All companies have rules, and if you are a trader or want to be a trader, better just bend over and get use to it. This has nothing to do with costs and most do not know back in the 1980's you pay over $1000 a month for data through satellite dishes, more along the lines of principles. But any time you have the backing of the U.S. government, you can expect you be bending over.

 

[cole_]

would it be illegal to run it like a pseudo bucketshop in the same vein as a forex brokerage? that would be a great way to get liquidity

it could be cash settled contracts based on the CME futures price

 

[Metamega]

would it be illegal to run it like a pseudo bucketshop in the same vein as a forex brokerage? that would be a great way to get liquidity

it could be cash settled contracts based on the CME futures price

Isn’t that similar to CFD’s? Never trades either but from what I understand it sounds like what your describing.

 

[ajacobson]

It's not a cartel - it's a monopoly. A pure and simple monopoly with pricing power.

 

[themickey]

It's not a cartel - it's a monopoly. A pure and simple monopoly with pricing power.

Yes, thankyou, a monopoly with control of our data which traders have generated.
I believe these are issues recently raised regarding large companies like Facebook and Google who control data to make themselves uber wealthy at the expense of exclusion of others.
Who should have rightful ownership of the data? The people or the corporations?