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Direct MessagesDate/Time: Wed, 01 May 2024 11:19:36 +0000
Post From: CME Fee Waivers procedures and Interactive Brokers accounts
| [2013-10-16 12:23:47] |
| User30668 - Posts: 108 |
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SC Engineering, I don’t know if you are already informed about this but there are some details that I think I should call your attention for, regarding the CME Fee waiver with IB trading accounts. As we all know, IB can sometimes be “not very easy” to work with. In the case of CME fee waivers, and unlike most other brokers, IB doesn’t give to the data feed provider any information about the client’s account being active / funded or not. This account information is necessary to access and validate the CME Fee Waiver – this validation needs to be done upon the first time connection and then at least once a month to keep the fee waiver active. This is the reason why it is not possible for IB customers to benefit from the CME fee waiver through Barchart, for example. In the case of IQFeed, they created an additional application (Fee Waiver Plug In) that runs along with IQFeed software. This “Fee Waiver Plug In” establishes a connection to IB TWS and gets the necessary information to confirm if the client’s account is active and funded. You can see it here: http://www.iqfeed.net/text/WaiverPluginInstruction.pdf That’s why the CME fee waiver has to be mandatorily validated with IB real account and not with IB paper account. Nevertheless, it is still very important to allow the traders to be able to use their IB paper accounts. In the case of the IQFeed “Fee Waiver Plug In” mentioned above, it is possible to log in to the IB paper account without losing the CME waiver – when we log in IB paper account we just don’t allow the “Fee Waiver Plug In” to connect to IB TWS, clicking "No" in the pop up window. If we do allow this connection the fee waiver will be immediately blocked. I hope I was clear enough with my explanation. My intention is just to avoid you to get an unpleasant surprise with this issue in the last minute. Let me know if you need any further information about this subject. I am looking forward to be able to subscribe the upcoming data feed. Date Time Of Last Edit: 2013-10-16 12:27:02
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