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NinjaTrader Static DOM fees when trading CL Futures
It's better to pay for quality software/infrastructure than it is to lose money due to poor tools.
X_Trader is built for DOM traders, it has nothing to do with whether one is retail or not. One can't necessarily start with a lesser solution and trade one's way up to a more expensive platform.
CQG and CTS T4 (if one is stateside) are other alternatives to consider.
My understanding is that it applies to all contracts.
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I am sorry to insist but please read the exceptions note carefully:
“* Except where there are multiple contracts having substantially the same underlying product, in which case they royalty for the smallest contract shall be $0.10 and the royalty for the other contracts shall be increased proportionately based on the size of the contracts. For example, the royalty for the CME's E-Mini S&P 500 and E-Mini NASDAQ-100 products shall be $0.10 and the royalty for the CME's S&P 500 and NASDAQ-100 products shall be $0.50.”
Reading the note the interpretation should be the following:
- CME’s E-Mini S&P 500 = $0.10
- CME’s S&P 500 = $0.50 (because it is five times bigger than E-Mini S&P 500)
Thus, following the same interpretation:
- NYMEX’s E-Mini Light Sweet Crude Oil (QM) = $0.10 - NYMEX’s Light Sweet Crude Oil (CL) = $0.20 (because CL it is two times bigger than QM and it is a multiple contract of the same underlying)
Can you understand my point? Am I right or wrong? I would really like to be sure...
Just a follow up, as it might be useful for someone in the future:
I posted this same question in Ninja Trader Support Forum yesterday and there was a reply from a NT representative just saying that they would update their web site today.
I've just checked NT web site and it is already changed - they updated the table fees and took off the "exceptions" note.
I guess there is no doubt now - the TT fee is $0.10 for every contract.