Any advice on what is considered a good rate RT in the eminis for about 50 turns a day? Is 4.35 considered expensive, average, or cheap for this? Thanks,
well if you lease a seat, you only need a clearingfirm I believe so no broker. The CME website has the fees so if you do enough volume and have enough monthly profits, it may be worth leasing a seat.
No, not looking to lease seat, etc,.. just looking at the retail level to try out some ideas. Regards
http://www.elitetrader.com/vb/showthread.php?s=&threadid=84691&perpage=6&pagenumber=1 Most brokers will negotiate on fees if you are doing 50 rt/day. I know Infinity will, but I think their lowest rate at any volume is $3.95. Check TransAct's website. I have heard of some people getting fairly low commissions with Mirus on volume.
Marex Financial in London were doing pro clearing at $0.68c a side for the electronic CME markets when I last checked in with them 0.34c exchange fee (european incentive) 0.10c globex fee 0.02c NFA fee 0.22c clearer fee =0.68c a side this was for volume upto 5000 a month, if you did more volume then the clearing fee went down to I think 0.08c for around 100k a month. No seat lease required.
Contact: ProActive Futures Mirus Futures Open ECry All are competitive on retail commissions and good people behind the operation.
Transact is $3.42 R/T. There is a $400/mo. platform fee, but if you do 364 or more R/T per month the fee is waived. Otherwise, the $400 is pro-rata based upon the number of R/T.