looking for clearing firm to clear remote eurex trader

Can you email me so we can take this off line?

Thanks,
Rich

 

Yes and fees can be capped.

 

I'd also recommend taking a look at FfastTrade for a fast Eurex connect, good rates, and good customer service.

 

I clear thru Matrix Trading, a division of Fortis. For Eurex, I pay about .84 US cents a round trip. I trade from a remote location as well. GoldenbergHeymeyer also has pretty competitive rates--I traded remotely via goldenberg as well. Matrix is at the CBOT, as is GH. You may want to give Mac Futures a ring also.

 

Is Matrix owned by Fortis or just clear through them? thanks

 

They clear through Fortis,(division is probably not the right word)...For the sake of accuracy, my Bund, Bobl, Schatz rate per side is approximatley 36 euro cents.

Fortis is actually not in the business of clearing locals. In 2000, the TransMarket Group's clearing side was bought by Fortis. At the time i was a proprietary fixed income trader for TMG. Point being, b/c of Fortis' huge volume in Eurex, they are albe to offer Matrix a pretty great rate.

 

What kind of platform charges or other hidden fees in order to get that kind of rates?

 

Loosenup,
We don't have any hidden charges or hidden rates. If you trade more then 727 lots a month there is no platform fee. We charge .55 a lot plus exchange fees. This includes 4 exchanges. I am not sure of the rates of the other companies. Email me if you would like a demo.

 

None....that is if you don't use a charting service and an execution platform. I use CQG ($570/month...billed by CQG)...and Trading Technologies for execution ($650.month...billed by your clearer) you can go cheaper & use esignal, but to save $300/month makes no sense to me, b/c esignal is a truly inferior product.

Even if you clear thru GoldenbergHeymayer you are looking at 76 euro cents to start, then it drops 6 cents for every 50,000 contracts traded....reseting each year.

Also, i trade from home, so i have no offoce rent cost....previously, as a prop trader('97-'02)... in London and out of CBOT offices from '00 to '02 my office costs were insane. Today, with T1,cable & DSL available for home networking it makes no sense to trade from an office, unless there are multiple traders sharing expenses.

i'm assuming i answered you pretty clearly, but if i have not just ask again.

 

NazAttack,

I am confused...As far as I can tell, Matrix is not an FCM, but Fortis is. Why not go straight to Fortis?

nitro