Support Board
Date/Time: Sun, 09 Mar 2025 19:47:48 +0000
Post From: CQG datafeed for NQ trading...problem
| [2022-03-05 16:16:08] |
| seandunaway - Posts: 347 |
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Exchange (CME) - Monthly exchange fees are the cost of the live tick data from CME, for example. CME wants $3 for top of book or $33 for market depth. This goes to the exchange. SierraChart adds a very reasonable $0.50 to the $3 top of book as an administrative cost. It is billed before the month and it pays for the entire month without prorating or refunds. * Support suggested you pay the exchange fee from your Sierra account and cancel it from your AMP account toward the end of the month to limit having two active exchange subscriptions to only the few remaining days of the month. - Per transaction exchange fees also goes to CME, per contract per side. For a CME micro for example, it's $0.25. Also $0.02 goes to the NFA. SierraChart or CQG - Data connection fees are the cost of connecting to a sort of gateway which allows you to receive the exchange tick data and also often historical data. This is $10 to CQG or $10 to SierraChart (bundled with your platform subscription). In the case of CQG it is also required to route your order. - Transaction fees are the cost per contract for executing your orders. CQG charges $0.10 per contract per side. SierraChart currently charges $0. Broker Commission fees are also per contract per side and go to your introducing broker, typically this will be something like $0.15 to $0.50 as negotiated. From this your broker will pay a few pennies to the Futures Commission Merchant as sort of a clearing fee. Most IBs will eat this expense, some will pass it on to you. The ones that pass it on will often dramatically pad it for their own profit. Notes Regarding your questions specifically.. if you want to keep AMP yet still have historical tick data, you'll need to pay CQG $10 to route your orders for $0.10/car and SierraChart $10 to receive tick data. When switching over you will have two concurrent exchange subscriptions, one with AMP/CQG and one SierraChart. If you time it toward the end of the month, it can be only a day or two. I think it's also worth mentioning a couple things in full transparency. 1. SierraChart has the ability to still provide the included (but relatively limited) front contracts historical tick data with CQG. It is my belief they're removing it simply to incentivize people transitioning to their Teton order routing. How can we blame them? It's a pain to support and their end to end system is superior. But still I don't like when it is portrayed as a CQG technical limitation because it's simply not. 2. It is my belief that AMP is choosing not to support Teton because it conflicts with their business model. They advertise extremely cheap commissions, but then add hidden commissions on top of the transaction fees. I haven't checked in a couple years, but it was common for people to be paying say $0.25-$0.35 per side per contract for trade routing via CQG, when the CQG buy rate was only $0.10. In a competitive business where everyone is shopping the lowest commissions, this allowed them to advertise commissions lower than their competitor's $0.49, and then add 0.$25 to the $0.10 transaction fee and fib that CQG was charging $0.35/car. Creative accounting. If this is still the strategy then you can imagine they would have zero desire to support Teton with $0 transaction fees billed directly to SierraChart (can't be padded). For many AMP users this is added incentive to join one of the excellent brokers supporting Teton. Date Time Of Last Edit: 2022-03-05 16:34:20
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