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Search: Posts Made By: Big Mike
Forum: Brokers December 22nd, 2014, 11:43 AM
Replies: 221
Views: 106,356
Posted By Big Mike
Notice from CTS: Mike

Notice from CTS:



Mike
Forum: Brokers October 27th, 2014, 08:34 PM
Replies: 221
Views: 106,356
Posted By Big Mike
Perhaps NinjaTrader and NT Brokerage can offer...

Perhaps NinjaTrader and NT Brokerage can offer clarity. My understanding in 2009 was platforms were required to report auto trading by a flag.

Sent from my phone
Forum: Brokers July 6th, 2014, 01:30 PM
Replies: 221
Views: 106,356
Posted By Big Mike
This was covered in the NT Brokerage webinar on...

This was covered in the NT Brokerage webinar on futures.io (formerly BMT) last week, I recommend watching it.

Mike
Forum: Brokers June 20th, 2014, 02:20 PM
Replies: 221
Views: 106,356
Posted By Big Mike
Time and Sales would still work as you are still...

Time and Sales would still work as you are still getting each tick (trade).

Footprint and similar would still work.

If you use something that requires depth beyond the inside bid/ask, it would...
Forum: Brokers June 20th, 2014, 02:19 PM
Replies: 221
Views: 106,356
Posted By Big Mike
Yes. I can't comment on options as I don't trade...

Yes. I can't comment on options as I don't trade them.

Mike
Forum: Brokers June 19th, 2014, 03:30 PM
Replies: 221
Views: 106,356
Posted By Big Mike
NBBO / inside bid and ask, no depth Mike

NBBO / inside bid and ask, no depth

Mike
Forum: Brokers December 11th, 2013, 02:05 AM
Replies: 221
Views: 106,356
Posted By Big Mike
I can't think of any. Sent from my LG...

I can't think of any.

Sent from my LG Optimus G Pro
Forum: Brokers December 11th, 2013, 12:43 AM
Replies: 221
Views: 106,356
Posted By Big Mike
Yes, I need/want/demand more than one brokerage...

Yes, I need/want/demand more than one brokerage account.

I have had multiple accounts for years and have diversified my funds in this way across multiple brokers. There are advantages. Besides,...
Forum: Brokers December 11th, 2013, 12:08 AM
Replies: 221
Views: 106,356
Posted By Big Mike
That was the original math based on being charged...

That was the original math based on being charged per platform, per broker, per exchange as a professional. The new math is just per broker, per exchange as a professional regardless the number of...
Forum: Brokers December 10th, 2013, 10:47 PM
Replies: 221
Views: 106,356
Posted By Big Mike
The big deal is about LLC's.... this has been...

The big deal is about LLC's.... this has been stated a few times now. $2,000 a year isn't going to make a break anyone, but $25k a year in fees that didn't exist yesterday starts to leave a mark.
...
Forum: Brokers December 10th, 2013, 04:03 PM
Replies: 221
Views: 106,356
Posted By Big Mike
That's just it though, retail is not their base. ...

That's just it though, retail is not their base. Their base is the volume pushers or "liquidity providers", for which these changes would have less than marginal impact I would imagine.

Mike
Forum: Brokers December 9th, 2013, 08:49 PM
Replies: 221
Views: 106,356
Posted By Big Mike
The most recent news I've heard is that the CME...

The most recent news I've heard is that the CME is not going to reconsider the new definition for professional status, which as it is stated today will include LLC's. This is bad news for me... :(
...
Forum: Brokers December 6th, 2013, 11:16 PM
Replies: 221
Views: 106,356
Posted By Big Mike
The "up in arms" is understandable for some of us...

The "up in arms" is understandable for some of us like me who are looking at a 25k fee increase next year based on initial data. It looks like this will be lower now, but waiting on CME to get their...
Forum: Brokers December 6th, 2013, 08:24 PM
Replies: 221
Views: 106,356
Posted By Big Mike
I believe most brokers will be clueless about...

I believe most brokers will be clueless about this until after it is implemented, especially at larger firms where individual brokers will get a mass email about it or have it covered in a meeting...
Forum: Brokers December 6th, 2013, 03:00 AM
Replies: 221
Views: 106,356
Posted By Big Mike
Read the post you are quoting, the paragraph...

Read the post you are quoting, the paragraph above what you quoted.




Mike
Forum: Brokers December 5th, 2013, 06:42 PM
Replies: 221
Views: 106,356
Posted By Big Mike
Just an update for today. After talking to...

Just an update for today.

After talking to some people again today on this, my general impression is the CME is clueless about retail traders (the one thing everyone seems to agree with).

I...
Forum: Brokers December 4th, 2013, 05:39 PM
Replies: 221
Views: 106,356
Posted By Big Mike
I spoke with Eliot at Mirus Futures, he has a...

I spoke with Eliot at Mirus Futures, he has a meeting with the CME tomorrow and once he has more info on some key issues, his team will disseminate it.

Mike
Forum: Brokers December 4th, 2013, 02:37 PM
Replies: 221
Views: 106,356
Posted By Big Mike
Not the same. Most executions are algorithmic,...

Not the same. Most executions are algorithmic, but it has nothing to do with high frequency or low latency. It has to do with the banks and firms wanting to get the best price for their clients so...
Forum: Brokers December 4th, 2013, 02:16 PM
Replies: 221
Views: 106,356
Posted By Big Mike
Algorithmic, or HFT? Big difference. I figured...

Algorithmic, or HFT? Big difference. I figured algorithmic was more like 80%, but definitely not HFT. Honestly I could be way off, I don't really focus on that.

Mike
Forum: Brokers December 4th, 2013, 12:08 PM
Replies: 221
Views: 106,356
Posted By Big Mike
I am hearing that the CME may reconsider the...

I am hearing that the CME may reconsider the Corp/LLC automatic professional designation. That is my hope.

Mike
Forum: Brokers December 4th, 2013, 11:33 AM
Replies: 221
Views: 106,356
Posted By Big Mike
Hopefully the CME will release some clarifying...

Hopefully the CME will release some clarifying statements soon. Right now too many unknowns or things that need to be clarified.

Mike
Forum: Brokers December 4th, 2013, 11:01 AM
Replies: 221
Views: 106,356
Posted By Big Mike
HFT of this type is primarily an equities market...

HFT of this type is primarily an equities market phenomenon and wouldn't be affected by this CME change in the futures market.

Mike
Forum: Brokers December 4th, 2013, 10:01 AM
Replies: 221
Views: 106,356
Posted By Big Mike
mattz is usually responsive, maybe he can clear...

mattz is usually responsive, maybe he can clear things up from an IB perspective in terms of executing vs non-executing and the new data fees for non-professionals and professionals.

Mike
Forum: Brokers December 4th, 2013, 10:00 AM
Replies: 221
Views: 106,356
Posted By Big Mike
Well they seem to be focusing on the contract...

Well they seem to be focusing on the contract fees, and not on the data fees. My understanding is the data fee applies to all brokers (all clients) and not just non-executing data providers like in...
Forum: Brokers December 4th, 2013, 09:59 AM
Replies: 221
Views: 106,356
Posted By Big Mike
Looks like an incomplete answer to me, either...

Looks like an incomplete answer to me, either that or they don't believe they are subject to the data fee/platform fee collections. Which would be contrary to my current understanding of this.
...
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