You would think that after six years Bart Chilton would have learned something about the Futures industry, instead he gives credence to slanted uninformed stories to appear to be a champion of the little man. Chilton is only champion of the little mind.
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.”
It’s ironic that I’m writing this on the day the insurance study commissioned by the industry after the MF Global and PFG blow ups was released. Ironic because if implemented in some form, it would mean more costs and more rules for futures commission merchants (FCMs) and probably their customers.
After years of dealing with low interest rates, new regulations and rebuilding client confidence, futures commission merchants are ready to break out and start doing what they do best: Executing trades and hopefully making money.