IB market data subcription question

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

  1. Gost

    Gost

    Hello

    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)

    and

    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,
    Gost
     
  2. def

    def Interactive Brokers

    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 It is an outdated fee.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

    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 Interactive Brokers

    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

    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

    Gost

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