The advent of electronic trading brought an infatuation with for-profit exchanges, while Dodd-Frank brought hope of regulatory protection for the little guys. Neither delivered in 2013 — will 2014 be any different?
Even if you do everything right in your first few trades and make money, you still have to pay the bills. Just like every business, trading has costs. Here are some to be aware of before you make your first trade.
A claim that is sometimes made about Bitcoin is that it is a way to send money without incurring transaction fees. This strikes me as mostly false, but in an interesting way, and I had a fun conversation about it on Twitter today; let me share it with you.
The NIBA newsletter focuses on the CME Group market data fee increases. Not surprisingly, none of our members are happy about it. Some even say that added to the industry problems of the past two years, this could be the last straw for their business.
When NIBA saw the potential impact of CME Group data fee increases, it sought a meeting with the CME to discuss their concerns. NIBA met with the CME Group market data team on Dec. 2. Here is their report to members on that meeting.
I ran into an old friend at the Chicago Board of Trade yesterday and he told me the following joke: “What does Obamacare and CME Group’s new data fees have in common? One is 28,000 pages the other is 18 pages and both were voted on without anyone reading them.”
Many explanations have been given why the Newedge CTA Index has returned a disappointing 0.82% per annum over the past five years, but none have taken into consideration the impact of Libor rates on returns. When we do, the results are striking.