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This is 10 cents per contract? How the heck can that mean anything? Thats 1
dollar on a 10 lot..... if your swing trading for say 8 points that is 4
thousand dollars.
----- Original Message -----
From: "Timothy Morge" <timothymorge@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, October 25, 2005 9:38 AM
Subject: Re: [RT] IB Communique - new US commission schedule
Earl:
Looking over them quickly, I believe you are correct. But I'll double check
your exchange costs with Aaron here to see if I am also missing the boat.
Tim
At 08:06 AM 10/25/2005, you wrote:
>I have an IB Communiqué announcing a new pricing structure:
>
>In keeping with our mission of providing low cost trade execution and
>clearing services to professional traders and investors worldwide, IB is
>pleased to announce the following new US commissions schedule to take
>effect Tuesday, November 1, 2005.
>
>Stocks*: $0.005/Share (all-in)
>Options*: $0.75/Contract (all-in)
>Futures: $0.25 to $1.20/Contract (plus exchange costs)
>Forex**: 1 to 2 PIP wide EUR/USD spreads
>
>I'm trying to figure out what the new charges are going to be for futures.
>As nearly as I can tell, IB is moving everyone to unbundled rates
><http://www.interactivebrokers.com/en/accounts/fees/commissionFutures-FOPs.
php?ib_entity=llc>http://www.interactivebrokers.com/en/accounts/fees/commiss
ionFutures-FOPs.php?ib_entity=llc
>effective Nov 1. As a rough calculation on the emini using the lowest
>number of contracts monthly in each table:
>Execution fee <300 0.90
>Clearing fee 0.30
>CME Tier 1 - Equity: 1.14
>Regulatory USD .02
> ------
>Total of $2.36 is close to the $2.40 bundled rate with opportunity for
>lower costs on more monthly volume. So far, no impact ... but then there
>is a BIG kicker - Overnight carrying fee per day @ $0.10
>
>This looks like a huge cost increase for those of us who carry swing
>trades overnight. Do my figures look right?
>
>Earl
>
>
>
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