Fees

The cost of trading

Michael McFarlin
January 31, 2014
Even if you do everything right in your first few trades and make money, you still have to pay the bills. Just like every business, trading has costs. Here are some to be aware of before you make your first trade.

Who's looking out for the little guy? Apparently not exchange or regulators in 2013

Steve Zwick
January 31, 2014
The advent of electronic trading brought an infatuation with for-profit exchanges, while Dodd-Frank brought hope of regulatory protection for the little guys. Neither delivered in 2013 — will 2014 be any different?

Bitcoin is an expensive way to pay for some stuff

Matt Levine, Bloomberg
January 3, 2014
A claim that is sometimes made about Bitcoin is that it is a way to send money without incurring transaction fees. This strikes me as mostly false, but in an interesting way, and I had a fun conversation about it on Twitter today; let me share it with you.

NIBA brings concerns over fees to CME Group

Press Release
December 17, 2013
The NIBA newsletter focuses on the CME Group market data fee increases. Not surprisingly, none of our members are happy about it. Some even say that added to the industry problems of the past two years, this could be the last straw for their business.

NIBA reports on fees meeting with CME Group

Daniel P. Collins
December 11, 2013
When NIBA saw the potential impact of CME Group data fee increases, it sought a meeting with the CME to discuss their concerns. NIBA met with the CME Group market data team on Dec. 2. Here is their report to members on that meeting.

CME data fee increase more onerous than originally thought

Daniel P. Collins
December 11, 2013
I ran into an old friend at the Chicago Board of Trade yesterday and he told me the following joke: “What does Obamacare and CME Group’s new data fees have in common? One is 28,000 pages the other is 18 pages and both were voted on without anyone reading them.”

Are CTAs broken?

Andrew Beer
August 16, 2013
Many explanations have been given why the Newedge CTA Index has returned a disappointing 0.82% per annum over the past five years, but none have taken into consideration the impact of Libor rates on returns. When we do, the results are striking.

LCH.Clearnet triples fee for LME before end of clearing deal

Agnieszka Troszkiewicz
May 15, 2013
LCH.Clearnet, which clears LME trades, plans to triple a fee levied on contracts before the LME takes over clearing itself next year.

NYSE proposes lower access fees to get more trading

Dave Michaels
May 13, 2013
NYSE Euronext sought to mute opposition to its quest for regulatory curbs on dark-pool trading by offering to lower its fees.

CME Group profit falls 12% as lower fees cut sales

Matthew Leising, Bloomberg
May 2, 2013
CME Group Inc., the world’s largest futures market, said first-quarter profit fell 12% as lower non-operating revenue and fees per contract cut sales.