Fee jump could dampen US trading tactics, volume

I'm full of shit? 300k day of sell vol on the spy is $24 mil of dollar amount. In extra sec fees thats $480 a day,$9600 a month, $115,200 a year. Thats huge and its own transaction fee.Many people on this board trade 1-3 mil shares a day so do the math.Now somebody trading 50-100k of a $40 stock its $25-$30 a day or $600 a month. Thats a $7k a year tax. Ask them how they feel about that. It doesn't seem like much till you add it up over a year. As far as doing futures i've never liked them. But i'd like to know why future fees don't rise with this?It seems unfair

 

Because futures are not regulated by the crackpot team at the SEC. CFTC regulate futures.

 

I would seriously look at trading the ES if I was you.

 

Not everybody is feeling comfortable with contracts.

 

What do you mean?

 

Futures are contracts and therefore they are not as convenient for some people as stocks which are not the contracts. Stocks are more flexible in terms of scaling your position.

 

This makes no sense, at least to me.

Have you ever attempted to trade, the ES for instance? Its bid/offer just like a stock and you certainly CAN scale in and out.

 

How can you scale in and out if your minimum contract size for ES is about $40,000?

 

i agree for the small trader, but i was referring to jnorty he said he is trading 600k shs of SPY. 1 contract is equal to 500 shs of SPY's. I'm sure if he scales in or out he wouldn't have an issue.

 

I've read about guys who are associate members or members of the cme paying 55 cents rountrip for 2000 contracts a day. Obviously paying the usual $3 r/t for 2000 contracts retail most would go broke. I'm not talking the corp 106 membership but being some type of member. What type of member on the cme would pay 55 cent all in fees and what would it cost a month for the membership?I guess as far as trading the spy versus the es its basically the same. But i just don't trade the spy plus my comfort level in stocks is greater.Also to do futures leverage correctly one needs 300-500k in an account to equate to 10-20k spy's. I don't feel comfortable having that type of money in a non sipc insured futures account.