Broker Commissions

[jimvt]

I am currently with GNI. Their commission schedule is shown below. Are there better commissions anywhere else?


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These charges are quoted exclusive of exchange and clearing house fees and regulatory levies, which are subject to change according to local regulation and GNI reserves the right to pass on these changes for which notice will be given.

ALL ONLINE LIFFE, EUREX, MATIF, IDEM, CME AND CBOT FUTURES CONTRACTS

< 499 lots per calendar month: £2.00/E3.00/$3.00 one way for all trades

500 - 999 lots per calendar month: £1.00/E1.50/$1.50 one way for all trades

1000 - 2999 lots per calendar month: £0.50/E0.75/$0.75 one way for all trades

3000 - 4999 lots per calendar month: £0.25/E0.375/$0.375 one way for all trades

5000 - 9999 lots per calendar month: £0.20/E0.30/$0.30 one way for all trades

10,000 - 19,999 lots per calendar month: £0.15/E0.225/$0.225 one way for all trades

>20,000 lots per calendar month: £0.10/E0.15/$0.15 one way for all trades


In addition to the above there are (for j-trader) monthly software fees of

£400 + VAT for 1 exchange
£500 + VAT for 2-4 exchanges
£600 + VAT for 5-6 exchanges

 

[Hittfeld]

Paying for j-trader??? You must be joking.

Hittfeld

I am currently with GNI. Their commission schedule is shown below. Are there better commissions anywhere else?


*************************************************************************************************************************************

These charges are quoted exclusive of exchange and clearing house fees and regulatory levies, which are subject to change according to local regulation and GNI reserves the right to pass on these changes for which notice will be given.

ALL ONLINE LIFFE, EUREX, MATIF, IDEM, CME AND CBOT FUTURES CONTRACTS

< 499 lots per calendar month: £2.00/E3.00/$3.00 one way for all trades

500 - 999 lots per calendar month: £1.00/E1.50/$1.50 one way for all trades

1000 - 2999 lots per calendar month: £0.50/E0.75/$0.75 one way for all trades

3000 - 4999 lots per calendar month: £0.25/E0.375/$0.375 one way for all trades

5000 - 9999 lots per calendar month: £0.20/E0.30/$0.30 one way for all trades

10,000 - 19,999 lots per calendar month: £0.15/E0.225/$0.225 one way for all trades

>20,000 lots per calendar month: £0.10/E0.15/$0.15 one way for all trades


In addition to the above there are (for j-trader) monthly software fees of

£400 + VAT for 1 exchange
£500 + VAT for 2-4 exchanges
£600 + VAT for 5-6 exchanges

 

[TWI]

These charges are quoted exclusive of exchange and clearing house fees and regulatory levies, which are subject to change according to local regulation and GNI reserves the right to pass on these changes for which notice will be given.

what do they mean by clearing house fees and regulatory levies? Are they not the clearer?

What would be your per lot cost of doing 10,000 lots of Liffe futures in 1 month?
Take Liffe, the exchange fee is 28p flat/lot. If they are only charging you what you show in your schedule on top of this I think they are reasonably good.

In order to get this structure do you also have to take the j-trader deal?

 

[jimvt]

what do they mean by clearing house fees and regulatory levies? Are they not the clearer?

What would be your per lot cost of doing 10,000 lots of Liffe futures in 1 month?
Take Liffe, the exchange fee is 28p flat/lot. If they are only charging you what you show in your schedule on top of this I think they are reasonably good.

In order to get this structure do you also have to take the j-trader deal?

Yes, you would only pay 28p per side on top of the listed prices in your exmple.
Note that if you are trading 12000 lots for example, you would be paying 15p for the entire 12000, not just on the 2000 above the 10000 lot threshold.

Those prices apply over all three platforms they offer but the monthly fixed cost differs.
For TT is US$725 for 1 exchange, US$975 for 2, and US$1225 for 3.
For RTS it is £400 per exchange.
They used to have their own platform called gni touch but no longer market it due to unreliability.

 

[TWI]

You can probably get cheaper. I have seen offers for 0.09/side over 10k. I think this was GHF.

 

[scarlet01]

Seems abit high to me

 

[TWI]

www.thetradersclearingalliance.com
This appears to offer the best rate. They are clearing through Fortis. Eurex starts at €0.07 and Liffe £0.07.
Office opens beginning July on Bishopsgate. Had a look and it is a nice place.
Also Mac have just reduced their rates.

 

[Mint Futures]

If you want to promote you trading room................. get a sandwich board and stand outside liverpool street station............... if your worried about a few pence off a lot you need to look at the way your trading.

 

[Strategic Trader]

if you are not interested in the possiblility of getting a few pence or cents off your rate, you are not a trader

 

[tech_trader]

In addition to the above there are (for j-trader) monthly software fees of

£400 + VAT for 1 exchange
£500 + VAT for 2-4 exchanges
£600 + VAT for 5-6 exchanges

What is VAT?