Es - $1.90 Rt??

Discussion in 'Retail Brokers' started by zeptoon, Apr 4, 2005.

Full of sh*t?

  1. Yes

    9 vote(s)
  2. No

    5 vote(s)
  1. zeptoon



    I was talking to someone earlier today who said he was getting $1.90 RT (yes, RT, not per side) commissions on trading the ES. I'm not sure how he is doing that since he is a very low volume retail trader and moreover he is really a penny pincher (so if it's anything involving paying a large upfront fee, you can rule that out).

    He wasn't very forthcoming with the details but he said he was doing:
    - something direct with the Exchange, that would allow him to get the same deal at any broker
    - something that you need a company with a certain amount of cash/income in order to setup (he has a small company that conducts business in a field unrelated to trading, that he said he had to use in order to get the commissions)

    So if you have any theories about what he might be up to, please let me know. Otherwise if you think he's full of it, let me know as well. I'm really curious about this.
  2. FredBloggs

    FredBloggs Guest

    probably trading at a bucket shop not the exchange
  3. Xenia


  4. the exchange fees are $ 2.32 R/T or 0.88 106/ where is the swindle?

    Perhaps.... they joined yourself in one of these CME program?

    and you need to do tons of R/T per months?

  5. Xenia


  6. zeptoon


    Thanks for your responses. He definitely doesn't use eurex and only trades the ES at CME. Any other theories?
  7. he is probably just telling you the commission fee not the exchange and globex fees.

    $1.90 is not his all in rate unless he is a member
  8. Chicago


    He's talking about the electronic corporate membership at the CME. It greatly reduces the exchange fees for firms and doesn't cost anything to join (besides the company set up fee, but in this case he already had a corp.). You need to have either an corporation or LLC/LLP to be eligible. This has been around for awhile, but I'm pretty sure the promotion is ending relatively soon.

  9. It ends in OCT.
    #10     Apr 4, 2005