Traders say charging for trading and data is a “greedy double-whammy”
The London proprietary trading community
has criticised recent exchange fee hikes, complaining the
additional costs could force some smaller firms out of
"Exchange fees are a complete rip-off.
Charging for both trading and data is a greedy double-whammy
for us. With the level they are now at, firms are having to
seriously evaluate their approach to the market and where they
want to trade…" said a business development head at a
London-based prop firm.
"Charging for data and trading is a double
whammy that not all firms can bear the brunt of. It is a double
taxation," he added.
Trading and data fees make up a large
proportion of exchange revenue, and recent rises have angered
the prop community, with many traders feeling the rising cost
of doing business is a barrier to entry to some and forcing
others to leave the market.
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