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I'm happy that you don't need to keep an eye on your costs. I've
always watched my costs as a part of managing whatever business I've been in.
Percentage wise, this appears to be a significant price increase. That has
nothing to do with whether it's affordable or is significant to the bottom line.
Somehow, the CBOT has been able to handle electronic bonds for 2/3 of what the
CME has been charging for emini. Considering the huge trading volume of the
emini, this has the appearance of monopoly price gouging.
Earl
----- Original Message -----
Sent: Tuesday, October 25, 2005 8:30
AM
Subject: Re: [RT] IB Communique - new US
commission schedule
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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