IB market data subcription question

Discussion in 'Data Sets and Feeds' started by Gost, Nov 13, 2002.

  1. Gost



    Sorry if this question was already discusses, but I wasn't able to find proper answer using forum search option.

    I am opening a corporate account (as non-US resident) at IB.
    Basically only data I need currently is basic nasdaq e-mini data (no 2nd level needed).

    At market data subscription page by default checked

    1. Non-professional US Securities and Commodities Exchanges USD 10.00 (Waived if monthly commissions > USD 30.00)


    2. Professional US Commodities Exchanges USD 10.00 (Waived if monthly commissions > USD 30.00)

    That seems to me quite confusing. I wasn't able to find answers on IB page, as well on forum to this questions:

    - What differences between this two packages? My account goes under professional definition, dose it mean I can't subscribe non-professional data at all?
    - Phrase "Waived if monthly commissions > USD 30.00" seems to me saying quite opposit to what I have read on the forum. I understand it so, that if my trades generate more then 10$ then I get a bill form IB.

    Tnx in advance,
  2. def

    def Sponsor

    professionals must pay professional data fees. just so happens that the fees for globex are the same for prof/retail (the NYSE hits professionals hard).

    If you trade do more than $30 in commission per month, you will not be charged a fee.
  3. professional means you are nasd liscenced. Either way, you don't need anything but the cme globex subscription for e mini. Neither option 1 or 2 will get you e mini. You don't need them if you don't want them.

    The professional fees are charged to professionals who supposedly dispense the quote information to their clients. It is an outdated fee. I wouldn't subscribe as a professional.
  4. Gost


    Tnx for reply first of all.
    Well, opening a corporate account makes you automatically professional subscriber. Company can't be non-professional subscriber.

    IB dosn't have globex subscription amongst list of services. And if e-minis are not included into any of two above mentioned services (what I assumed) what name of the service includes them?
  5. Does someone could explain this:

    A private investement corporation seem to be not automaticaly assigned as a PRO if the trader is not a PRO (i.e. with his License from the SEC/Series 7).

    For IB this seem systematic a Corporation will bea ssigned as PRO fee, but for CyberTrader this will depend the status of the corporation, what is the rules in this area?
  6. I copied this from my ib account subscription page

    Globex USD 10.00 Waived if monthly commissions > USD 30.00
  7. def

    def Sponsor

    IB follows this definition, I don't know why other firms can get away with a different interpretation: "The U.S. exchanges define any organization as a "Professional" as these entities are not considered natural persons."
  8. Gost


    Seems you have something I dont at your subscription page.
    I try to attach a screen shot of my list on avaliable subscriptions.
  9. The Professional Commodities package should be the one you need.
    The e-mini is a Future, which is a Commodity. The Commodities package should include Globex.

    You shouldn't need to have the Non-Professional Securities package if you are only trading e-mini. Un-check that box, it will just cost you an extra $10 per month.
  10. Gost


    Thanks a lot,
    this is what I assumed from the beginning.
    #10     Nov 14, 2002