Recently I received the below communication from IB regarding their NYBOT data feed, this was just a few weeks ago. Now they are telling me to disregard the message and cough up 'substantial' $75/month fees for NYBOT instead. So what's the deal here, do they have rebates for actual traders, or don't they? "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.''
I was learning some ice/nybot markets but did not subscribe when they introduced this. Nybot option markets are still on the floor which is another problem. Stick with the cme.
I need it for Sugar and Coffee. I've written to them asking what's going on. Will update when I hear back.
I looked back at the last two ICE/NYBOT fees I was charged: 12-09-12 paid $1.00; 01-04-12 paid $1.00. The info I received from IB said the $75.00 fee would be reduced to $1.00 if I made one trade per month through the ICE/NYBOT.
don't sound like you need anything but to get your head examined. Have you ever seen the Sugar Ring at the NYBOT? 75 bucks is like Ceasears saying, "No more free beer unless you at least buy in for one craps game." I'm curious, what is it you need so bad that it's not worth 75 bucks? otherwise, if you ever actually make a real trade it's just a dollar, try going to the grocery store with a dollar and see how much sugar and coffee you walk away with
Curiously IB edited out any mention of the rebate on the market data subscription page, it was clearly there as a footnote in early January when I signed up and agreed to it (along with the aforementioned emails sent on 12/16 and 12/19). I'm sure it's an oversight and IB will do the right thing and honor the $1 rate if you traded those markets.
The point I'm making Oldtime is that IB previously emailed me telling me it was 1 dollar if I trade minimum of 1 trade / month on NYBOT. Now they are telling me it's $75 and disregard the previous email they sent a few weeks ago. If I'm doing business with a company I expect clear, transparent pricing and agreements. What I want to know is whether there is a rebate or not. Based on their original email ICE has already agreed to this so I fail to understand why they are now telling me it is $75/ mth irrespective of trade activity.
I have not received a message or email notification of any reversal of the $75.00 minus the $74.00 credit equaling a $1.00 charge per month based on activity during the month. I will be a very unhappy IB client if IB charges my account $75.00 without sending me an advance notice of a reversal of the fee charge.
I guess we'll find out on Monday's statement, still hoping it's an oversight. I'll be a very unhappy former IB client if they try to retroactively charge me $150 over what they stated for ICE Europe & ICE NYBOT.