Industry participants have expressed anger at a proposed
Chicago Board of Trade (CBoT) quote charge aimed at customers
and expected to be introduced this autumn.
The quote fee for exchange users, which was created four
years ago and has been waived each year by the exchange, calls
for a $30 per user charge per month for all E-CBoT traded
contracts. CBoT informed customers last week it intended to
begin adding the fee in September.
Although futures brokers and end users are incensed with any
new or increased exchange fee, reaction in this case was more
angry than usual because CBoT will be the only known exchange
to levy such a fee on customers. The move also came in the wake
of an announced clearing fee increase and a host of other
trading fee rate hikes on agriculture contracts offered on
E-CBoT (see FO Week Vol 11 No 22).
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.