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> CEC: $88
> LME: $75
> IPE: $55
> NYMEX: $55
> COMEX: $55
> CBOT $30
Aw, c'mon Jim. Add all of those together, multiply by 2 (for 2 data
feeds) and you're starting to talk real money to get live data for the
futures. $700+/month for maybe, what, 100 or 200 symbols?
> True, the NYSE only charges a buck.
Yep, as well as Amex and Nasdaq. Realtime quotes on about 10,000 issues
on 2 data feeds for about $6/month.
> But consider how much the exchange
> charges companies to list shares thereon and guess who pays,
> ultimately at least.
Not the traders. Sure you pay your share of exchange fees if you trade a
lot but that's a reasonable variable cost if you're doing size. The
people at the stock exchanges have enough sense not to impose a big
fixed cost on the new guys that are just getting started. Every
businessman knows the fixed costs are what kill you. The attitude at the
stock exchanges is "y'all come on in" not "get the hell out of my
private club."
> Same thing goes for the NASDAQ except it charges
> $10 for Level II and the subscription fee (either charged separately
> or incorporated in a data package) is an additional $50.
Not a fair comparison. You have to pay a minimum of $400 a month for a
globex terminal to get anything close to Level II and then it's only
good for the minis. Hell, for most pit traded contracts, you can't even
get the bid, ask or size. All you get is very late *estimates* of the
last price.
> My intention here is not to touch off a flame war or pissing match;
> just to put this issue into perspective.
No personal flame intended but this fee thing is just another example of
the inbred attitude of the good old boys in the pits. To them, we are
just paper and the best use of paper is toilet tissue. They may be fine
traders but they don't have the first damn clue about how to run a
successful business.
--
Dennis
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