InterContinental Exchange and New York Board of Trade Subscription Dear Trader, Effective January 1, 2012, the InterContinental Exchange (ICE) will be instituting a new market data policy whereby they will charge a substantial fee for "View Only" subscribers, but provide a rebate for actual traders. In anticipation of this new policy, we will be discontinuing your current InterContinental Exchange and New York Board of Trade feed and implementing two new feeds: InterContinental US / New York Board of Trade 75 USD InterContinental Europe 75 USD The 75 USD fee is reduced to 1 USD should you execute a minimum one lot trade during calendar month of subscription. If you still wish to receive the market data at the new tariff, please subscribe on or after January 1 through Account Management / Trading Permissions / Market Data Subscriptions. A full listing of market data subscriptions is on our website under Fees / Market Data & News. If you have any questions regarding these changes, please create a ticket via the Message System also within Account Management. Interactive Brokers Customer Service I was looking to trade some Nybot options but I am not paying $75 a month while I learn the market. I will stick to CME.
Just read the e-mail, it's definately a substantial increase. I suppose it would be best to least open & close 1 lot in a liquid market once a month (if no other ICE trades were executed). That way your monthly fees for having real-time ICE data would be something like $10 ($1 fee + commissions + bid/ask spread)
I read it and am irate myself. I'm really hoping that this isn't analogous to what the airlines do, where one airline (or exchange) tries to pass on a fee and hope that the other airlines (exchanges) join in. I really hope the other exchanges don't join in on this. I already pay more than enough $$ in subscriptions and data fees, and can't imagine paying scads extra for duplicate fees across multiple accounts, and will be taking cotton and sugar of my list of markets to trade.
I don't mind making ONE trade a month to get the discounted rate for data used to trade /TF. Better than $75 bucks! However, I do have a problem being forced to make multiple trades per month just to get fees waived to use a certain trading platform.
What's the deal with brokers that distribute free ICE data via their generic platforms i.e. open ecry, global futures zen trader, RJO Vantage, etc... are they really shelling out $75/month for each user that doesn't trade those markets? What I'm getting at is whether this fee is really levied on an individual account level, or the FCM as a whole? --- Two questions specifically for IB - 1) ICE trade or pay has been in effect since 2011 (see below), why is it being enforced all of a sudden in 2012? You were eating $65/month per dormant account? https://www.theice.com/publicdocs/futures_us/exchange_notices/ExNot120210DataFees.pdf 2) If I have a second username (same account) how does the trade accounting work to avoid the $75 fee across both usernames? If my account is dormant for a month do I get dinged $300 if I subscribe to both ICE US & Europe?
Trade-or-Pay is a new thing to me ..... I need to contact TS, because I've been forking out $65/mo for ICE data to trade the /TF since July when I switched over to TS as my platform.