FAQ: CME Direct Market Data Billing

When will I receive my first invoice for CME Direct charges?

CME Group issues invoices and statements once a month with expected delivery on approximately the fourth or fifth business day. Your first invoice will be delivered the fourth or fifth business day of March 2019.

When will my first payment be due?

Payment is due 30 days from the Invoice Date.

What are the standard monthly fees for market data?

Fees* will be charged on a per device basis for each exchange permissioned where the ADV threshold is not met:

  • $105 per month for CME
  • $105 per month for CBOT
  • $105 per month for COMEX
  • $105 per month for NYMEX
  • $79 per month for DME (DME is not an eligible exchange for the waiver program)

*Fees listed above are effective January 1, 2019. For current information regarding fees, visit our CME Group Schedule 5: Fee Schedule.

What will my invoice include?

CME Group will invoice for the information you had access to on CME Direct, one month in arrears. Therefore, your first invoice will have an Accounting Date of February 2019 and will bill for charges assessed for January 2019 usage, as shown below.

Fees will apply based on whether Average Daily Volume (ADV) thresholds are met. For more information on the fee waiver qualifications, see questions below.

Does CME Group offer fee waivers for market data on the CME Direct Platform?

Users can qualify for a market data fee waiver by meeting a volume threshold on the CME Direct platform. The volume threshold is set to an average daily volume (ADV) of one per calendar quarter per exchange. The waiver applies only to the four CME Group exchanges, CME, CBOT, NYMEX and COMEX. Standard fees apply for Dubai Mercantile Exchange market data (DME).

Do I have to meet the volume threshold on each exchange?

Yes, ADV is calculated on each exchange independently and waivers are applied per exchange. Dubai Mercantile Exchange (DME) is not part of the waiver program and standard fees will apply regardless of volume.

How are the fees and waivers calculated?

Fees and waivers will be applied monthly based on the previous quarter’s usage evaluation. The first granted exchange(s) automatically qualifies for a waiver in the first calendar quarter it is enabled and the following two quarters. In the third quarter, after access to market data on the first exchange is permissioned, quarterly evaluation begins.

As shown below, during an evaluation quarter, trading activity is assessed on each exchange independently. Users who achieve an ADV greater than or equal to one qualify for the waiver. The qualification applies to the bill for each month in the next calendar quarter.

Will market data fees for a newly permissioned exchange be billed immediately?

No, the newly added market data will qualify as waived for the balance of the quarter it is granted and then go into evaluation as referenced above.

For example, a user permissioned for CBOT market data in January will be charged for the first time in October based on their Q3 ADV.

If I am already licensed with CME Group for other market data products, will my CME Direct market data charges be comingled with my other CME Group market data charges?

Yes, unless your firm has requested a separate billing account for CME Direct charges, you may see both CME Direct and other market data charges on the same invoice. To request a separate billing account please, see the contact information listed below.

A user at my firm was charged for market data this month but he did not log into CME Direct. Why?

If you are an enabled CME Direct user and permissioned for market data at any point during the month, you will be charged for market data.

Will there be tax assessed on my CME Direct charges?

Taxes will be assessed on New York and New Jersey subscriber locations only.

A user at my firm was charged sales tax but he/she is not located in New York or New Jersey. Why?

Sales tax is charged based on the location listed on a user’s CME Group Login ID. If you need to update your location, you can do this by updating the address associated with your CME Group Login ID.

Where can I find additional detail regarding subscribers on my invoice?

Information on the makeup of your invoice including user name, service month, address and fees can be located via your Invoice Addendum.

How do I pull an Invoice Addendum?

Visit the Data Services Platform and click on View Invoices, as shown below:

How should I build a Purchase Order?

You may generate your Purchase Order based on number of users per exchange, but due to the nature of the variable amounts per invoice it may be difficult to determine the exact fees per month.

How does my firm adjust market data permissions for the exchange data we do not use?

Firm Administrators can adjust market data permissions from the User Admin view in CME Direct. Additionally, users can be disabled from the User Admin view.

Learn how to manage your users in CME Direct.

Where do I remit payment?

Lock Box:

Chicago Mercantile Exchange Inc.
Attn: Accounts Receivable
P.O. Box 73672
Chicago, IL 60673-7672

Wire Transfer:

JP Morgan Chase Bank
ABA: 021000021
Account #: 887294601
A/C Name: Chicago Mercantile Exchange Inc.
Swift Code: CHASUS33

ACH Transfer:

JP Morgan Chase Bank
ACH Routing: 071000013
Account# 887294601
A/C Name: Chicago Mercantile Exchange

Who do I call with questions on my invoice?

Contact your Global Account Manager or email the following appropriate group:

Americas Market Data Team: marketdata@cmegroup.com | +1 312 634 8395

EMEA Market Data Team: marketdataEMEA@cmegroup.com | +44 (0) 203 379 3754

APAC Market Data Team: marketdataAPAC@cmegroup.com | +65 6593 5505

 

Get more information on CME Direct.