What are you ER2 fellows doing...

Discussion in 'Index Futures' started by Shraga18, Aug 4, 2008.

What are you doing about ER2?

  1. ER2 forever! I'm going ICEskating

    28 vote(s)
    33.7%
  2. ER2 RIP. Other minis here I come!

    47 vote(s)
    56.6%
  3. It's over. I'm going into real estate...

    8 vote(s)
    9.6%
  1. <i>"IB is charging customers 1 pound a month for data."</i>

    In other words, +/- two dollars USD per month? That's about six Marlboro cigerattes... three smoke breaks for the average floor trader.
     
    #41     Aug 8, 2008
  2. MarkB

    MarkB

    Yeah it's no big deal at all - I just wanted to point out the discrepancy if they're telling Ray that they're giving it to us as part of the "free" package.

    Mark
     
    #42     Aug 8, 2008
  3. olias

    olias

    Werd to ya mutha
     
    #43     Aug 8, 2008
  4. Mark,

    I believe that you are confused on how our subscriptions are set up.

    You are most likely subscribed to the US Commodities Bundle which does not include ICE data. If you review our market data offerings on our website or through your account management you will see there is a specific subscription available for ICE (and legacy NYBOT) data.

    Our website shows an administrative fee of 1 GBP but this is not actually charged to your account if you are qualified to trade futures on the ICE.

    http://institutions.interactivebrokers.com/en/accounts/fees/marketData.php?ib_entity=inst

    You are also more than welcome to email marketdata@interactivebrokers.com should you ever have any questions regarding our market data offerings.

    Thanks,
    Jeanette
     
    #44     Aug 8, 2008
  5. Vice President at ICE

    Executive Director at Morgan Stanley
    Director, CRM Electronic Trading at Chicago Mercantile Exchange
    Managing Partner at Cambridge Technology Partners
    Owner at Zero Hour Records
    Managing Director at Morgan Stanley
    FX Trader at J. Aron/Goldman


    Education New York University
    DePaul University
    elk grove high school

    Ray also plays lead guitar/back up vocals. In high school played in a band called the Forest

    You can see Ray on

    Thursday, Aug. 21
    11:30 to 1:30

    CB Richard Ellis
    Quaker Plaza
    555 West Monroe
    Rooftop Deck
     
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    #45     Aug 8, 2008
  6. olias

    olias

    I'm hoping for a smooth transition to ICE. As long as the volume is there....the exchange fees are going to be lower...why not transition over?

    Competition is good.

    I'm routing for you Ray.
     
    #46     Aug 8, 2008
  7. MarkB

    MarkB

    JPasciolla,

    Thank you for the clarification. Since my only source of info on this was indeed the subscription page, I had no way of coming to the conclusion that people wouldn't be charged a fee which is clearly stated on your site. Not quite "confusion" on my part, but lack of presented information.

    Mark
     
    #47     Aug 8, 2008
  8. I certainly am confused. What does "qualified to trade futures on the ICE" mean?

    I trade ES, does that make me "qualified to trade futures on the ICE".

    My understanding of IB market data subscriptions is that you have to pay the stated fee for each subscription. If there is some other policy then please clearly state it on the IB website.
     
    #48     Aug 8, 2008
  9. I will have the administrative fee removed to reduce confusion.

    In order to be qualified your IB account must be permissioned to trade ICE futures which means you must select the US futures trading permissions in account management.

    Since you currently trade the ES futures on GLOBEX it is the case that you already have ICE Future US access as we group all US futures into the US futures selection in the trading permissions page.

    If you did not have a qualified account for futures trading you would not be able to receive the market data as you would not be able to effect a trade on the exchange. We do not provide market data in this case if you can not acutally trade based on the data you are viewing. We do not offer a view only subscription.
     
    #49     Aug 8, 2008
  10. MarkB

    MarkB

    Wow,

    So a fee is listed, but you're not charged the fee if you're qualified to trade futures. And you can't get the data if you're not qualified.

    That's pretty circular. Given those criteria there would be no situation where you'd actually charge the fee! So then why list it in the first place?

    I think I saw an old Star Trek where Captain Kirk destroyed a robot by forcing it to think that problem through.

    Not a bad idea to just remove the listing for the fee then, to avoid confusion indeed.

    Again it's not the matter of the couple of bucks, it's just misinformation.

    Mark
     
    #50     Aug 8, 2008