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FroggerMan
 

Registered: Aug 2010
Posts: 140

 

07-09-12 12:18 AM

How do you figure your math on the exchange fees?
http://www.cmegroup.com/company/fil...ee_Schedule.pdf

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FroggerMan
 

Registered: Aug 2010
Posts: 140

 

07-09-12 12:26 AM

never mind per side...

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londonkid
 

Registered: Jun 2011
Posts: 150

 

07-09-12 12:32 AM


Quote from FroggerMan:

How do you figure your math on the exchange fees?
http://www.cmegroup.com/company/fil...ee_Schedule.pdf



row2 in 1st 2 tables lessees. 21c + 25c = 46c

note 9 on page 2 - 18.5c volume discount for 151-1500 average daily volume.

(10,000 per month is roughly 500 average daily volume)

46c - 18.5c = 27.5c

if you do more than 1500 average daily volume you qualify for 22.5c discount hence total RT would be 8c less = 78c TOTAL all in.

scalping for a tick here and there becomes very doable with sub $1 RT's.

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gmst
 

Registered: Jul 2011
Posts: 3745

 

07-09-12 08:08 AM


Quote from londonkid:

Hi

I scalp US stocks looking for 0 to 3c's and would love to trade the ES doing the same looking for a couple of ticks here and there however I need a rock bottom commission.

I really need $1 all in per Round Turn, cheapest I have come across is around $1.90 all in and that is for exchange members. I really need it lower for my strategies as I like to buy at the bid and sell at the offer and I scratch A LOT.



Conrats for digging through to get a good comm. rate. However, unlike stocks, you won't be able to buy bid and sell offer on ES. Its took thick and works on FIFO, so you will get filled only when price crosses through. Hope it helps.

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gmst
 

Registered: Jul 2011
Posts: 3745

 

07-09-12 10:57 AM


Quote from londonkid:

thanks I will contact him. I wont bother contacting Mirus - looks retail to me.



If you have lifetime license of Ninjatrader/Multicharts, platform fees per month with Mirus appear to be zero.

So, if Mirus is willing to match DeepDiscount's quote of 0.15 cents per side, then you save on software costs by going with Mirus.

My 2 cents.

Btw, Thanks for excellent research here.

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NetTecture
 

Registered: Mar 2009
Posts: 1020

 

07-09-12 11:02 AM


Quote from gmst:

If you have lifetime license of Ninjatrader/Multicharts, platform fees per month with Mirus appear to be zero.

So, if Mirus is willing to match DeepDiscount's quote of 0.15 cents per side, then you save on software costs by going with Mirus.

My 2 cents.

Btw, Thanks for excellent research here.



Sadly, not true.

The main problem is: Mirus uses Zen-Fire, Rithmic costs. Normally they roll it into the fee, but if Rithmic matches 15 cents, they are left with pretty much zero even at that volume. Wont's happen.

Rithmic is one of the more expensive offers (not blaming them - they have a lot of use cases) and Zen-Fire is repackaged and higher priced Rithmic - makes is extremely unlikely to be willing to match 15 cents with the costs included. I dare to say it would be stupid from them - from what I know of Rithmic pricing, they would be left with only some cents left.

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