Industry participants have expressed anger at a proposed Chicago Board of Trade (CBoT) quote charge aimed at customers and expected to be introduced this autumn.
The quote fee for exchange users, which was created four years ago and has been waived each year by the exchange, calls for a $30 per user charge per month for all E-CBoT traded contracts. CBoT informed customers last week it intended to begin adding the fee in September.
Although futures brokers and end users are incensed with any new or increased exchange fee, reaction in this case was more angry than usual because CBoT will be the only known exchange to levy such a fee on customers. The move also came in the wake of an announced clearing fee increase and a host of other trading fee rate hikes on agriculture...