Hi, I want to understand if an active trader who trades for a living but trades only with his own money (and not with money of any other people) will be considered "professional customer" under the market data provisions and therefore will be required to pay the higher professional fees? All the market data fees issue seems to me pretty arcane as an issue that was relevant mainly to the times when such information was really exclusive and unique. However, with all the various sources of data that exist today (many of them are free and provide delayed and even real time data) why should someone be forced to pay that hefty fee to the exchange for a market data that he can get from other sources more cheaply? Why are the brokers not giving the choice just to have delayed data and therefore not to force the customers to pay these fees (I assume the exchanges do not charge for delayed data but only for real time data, since otherwise I should be charged a fee everytime I check a quote on google or bloomberg). Also, I don't understand why does someone who trade for his own account and does it through a company in which he is the sole shareholder (because of tax considerations, for example) have to pay yearly fees of about 3k just because of this "professional" definition. What's the difference if he operates as an individual or through a wholly owned entity and doing substantially the same trading operation? I asked these questions also in another forum but I still did not get a clear answer so I also post it here. Thanks.