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Looks like
the squeaky wheel got some grease.
:)
Andrew
Thank you, Kate.
Poster "IB Soft Interactive Brokers"
posted the following late in the thread:
It seems the CME/GLOBEX is
reconsidering some aspects of their new proposal to charge for
orders/cancellations. Based on our communications with GLOBEX, it seems
likely that they will postpone the implementation of the new fee scheme
until at least August 1.
Accordingly, as IB considers the imposition
of cancellation fees as essentially a pass through of exchange charges, we
will postpone charging for excessive order submission/cancellation for
GLOBEX orders until the GLOBEX finalizes the details of their
plan.
It remains clear to me that CME is
targeting the non-member market makers who provide some additional liquidity.
It also seems clear to me that IB needs to give their customers some latitude
on this by implementing something along the lines of 5 free cancels per day so
customers are not hit for routine adjustment of limit and stop/limit orders on
position trades.
Earl
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