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MarketDelta Platform Cost Structure-Platform,Clearing,Commissions


#1

Dear all,
Good days!

I just one step ahead to Futures market.
However, I have to knowledgeable futures trade/execute flow.

Can someone correct me as below picture, if I am misunderstanding about Futures flow?
I took Optimus as one of the examples.

For below picture attached, does it mean I may cost as below detail:
1, Platform ($199/month)
2, Exchange data (CME $27/month)
3, Data execute ($0.10-$0.25 perside)
4, Commission ($0.50 per side)
5, FCM ($1.18 per side, ES mini)

Is there any mistake or any portion miss out?
Please advise.
Thank you.


#2

Hello @AndyHuan

Thank you for your elaborate question. Just a few things to consider:

  1. There are NFA Fees. They are 2 cents per side. They were 1 cent and may fluctuate between these two rates. These are regulatory rates.
  2. The Exchange data for the CME, as far as I know, is included in the $199. This is for the CME. If you want different markets like Eurex, Osaka, ICE, etc, they would be extra.
  3. CME Group, by the way, is not $27. It is $5 per their exchange. All 4 exchanges are $15. If you need only, for example, it would be $5. Again, your CME is covered by MarketDelta.
  4. Commissions are on a sliding scale Yes, they start at $.5 but go as low as $.1 if your volume increases.
  5. The CQG routing is .10 cents to .25 as indicated based on the choice of FCM
  6. There are also clearing rates from the FCMs. They can range from $0.35 to $0.25 on others.
    These are the rates the FCMs charge our customers for clearing.
  7. Optimus Futures is an IB to several FCMs and you would need to open the account through one of our affiliate links here: https://optimusfutures.com/Select-Futures-Clearing-Merchant.php

Thank you,
Optimus Futures Support


#3

Hello,
Many thanks for your respond above.
I need more educate on such field due to I can’t get much more topic or knowledge at other way.

I thought Optimus futures also under FCM?
Does you mean, I have to open an account at Optimus, also need to open additional another account as AMP for FCM (Based on the link you provided above)?

Therefore, the open position flow only go Optimus thru AMP(FCM) as clearing ($0.35-$0.25)? Otherwise,
The trade could not be complete, is it?
Or, it can be eliminate those process and done by only Optimus?

Which mean, I just place a trade > Platform > Optimus > Exchange market > Close position.
Please teach me, if I am wrong.
Thank you.


#4

You are very welcome. Glad we could help. Optimus Futures is not an FCM, we are IIB (Introducing independent broker) and gives us the right to place our customers with FCMs our choice. This flexibility as a Futures broker allows us to set the customer where we feel his/her needs are met.

Your orders are routed directly to the exchange. We do not intercept orders. We use DMA (Direct Market Access) where your orders are direct to the exchange.

If you wish to proceed with AMP as your FCM (since you mentioned them), please feel free to apply here: https://application.ampclearing.com/OPT/apply

Thank you,
Optimus Futures Support


#5

Dear Mod-MottZ

One last time confirmation with you again.
As I revised what I study or know as below, can you please correct me again?

Please advice.
Thank you.


#6

@AndyHuan I apologize, but your original diagram was closer to what we think is right. This[quote=“AndyHuan, post:5, topic:1961, full:true”]
Dear Mod-MottZ

One last time confirmation with you again.
As I revised what I study or know as below, can you please correct me again?

Please advice.
Thank you.


[/quote]

Hello @AndyHuan we feel that the first diagram was closer to what we think is right. Your second diagram implies that Optimus Futures intercepts orders and that is not correct. We use DMA (Direct Market Access) where the trades go directly to the exchange. However, there is another component where the risk side of the FCM does authorize whether the trade can go through. This is set when you establish an account.
Further, we are not sure what the arrow means from the exchange to the clearinghouse. If you say that your trades are reflected in the account that you carry with the FCM, then this is correct. The trades get executed ONLY on the exchange level. Maybe you come from the FX world where trades could get executed and carried by a broker, but with a regulated futures contract, execution can only happen within an exchange.

Further, there is only ONE fee attached to an FCM clearing and that is set once the account is carried.

We have attached a diagram that demonstrates what we consider to have the right flow of things while keeps things generic.

We hope this helps and you can see a bigger image here: https://optimusfutures.com/tradeblog/archives/what-happens-when-you-place-a-futures-trade/

At this point, we feel that we need to close the thread because our diagram should answer all questions as far as clearing. When you establish the account with Optimus Futures, we assure you that the flow execution, orders, FCMs and IB make become much clearer. We encourage you to ask many questions about the functionalities of the MarketDelta platform. Tihs is why we also built this forum. You can ask about order placement, certain button functionalities, etc.

Thank you and we look forward to our future communication.

Matt Z
Optimus Futures Support


#7