XCore Pricing (Draft)
XCore Pricing
Each Live XCore is charged based on the maximum (not the sum) of Instance Fees, Connectivity Fees, and Volume Fees :
Live XCore Fee = Max (Instance Fees, Connectivity Fees, Volume Fees)
The Monthly Fee is equal to the sum of all Live XCore Fees :
Monthly Fee = Sum (Live XCore Fee for each Live XCore)
Instance, Connectivity, Volume, and Transaction Fees are different fee groups defined below.
1. Instance Fees
Each XCore instance is charged a fixed monthly fee. The Instance Fees are the sum of all such fees.
| Fee Group | Item | Price | Description |
|---|---|---|---|
| Instance Fees | First XCore | $2000 | Each XCore instance is charged a fixed monthly fee of $2000. |
2. Connectivity Fees
Connectivity via each connectivity interface which has been enabled on more than 2 days during the billing period is charged a fixed monthly fee. The Connectivity Fees are the sum of all such fees. Clients are permitted to connect only MT4/5 Takers that are licensed to them.
| Fee Group | Item | Price | Description |
|---|---|---|---|
| Connectivity Fees | FIX Taker | $100 | Connectivity via each XCore Trader or FIX Taker is charged a fixed monthly fee of $100. Included are one pricing and one trading connection. |
| MT4/5 Taker | $800 | Connectivity via each MT4 or MT5 Taker licensed to the client is charged a fixed monthly fee of $800.Included are one pricing and one trading connection, one bridge and one feeder. | |
| FIX Maker | $400 | Connectivity via each FIX Maker is charged a fixed monthly fee of $400. Included are one pricing and one trading connection. |
|
| Others | $400 | Any other post trade interface is charged a fixed monthly fee of $400 per each connection. |
3. Volume Fees
A client may form one XCore Group by combining any three Live XCore instances to benefit from Volume Fee discounts. Volume Fees are charged monthly according to the below Volume Fee Schedule and are the sum of all such fees.
Volume is measured in millions of USD notional, denoted as [M]. XCore to XCore Volume or Internalized Volume, only the Incoming side is charged. Monthly Volume Fees are adjusted based on a discount curve function.
Monthly Volume Fees = Sum (Volume Fees) * Discount
Volume Fee Schedule :
| Fee Group | Item | Formula | Description |
|---|---|---|---|
| Non-Crypto | Margin Fee | 0.50 [USD/M] per side | Margin Fee is charged on the the total Non-Crypto trading volume margined with XCore. |
| Execution Fee | 1.00 [USD/M] per side | Execution Fee is charged on the total monthly Volume executed from all Non-Crypto Asset Classes |
Volume Fee Schedule Crypto :
| Fee Group | Item | Formula | Description |
|---|---|---|---|
| Crypto | Margin Fee | 2.50 [USD/M] per side | Margin Fee is charged on the the total Crypto trading volume margined with XCore. |
| Execution Fee | 5.00 [USDM] per side | Execution Fee is charged on the total monthly Volume executed from all Crypto Asset Classes |
The Discount curve is a function that takes the total incoming trading volume transacted within an XCore Group as input and returns a percentage discount, which is applied to the Monthly Volume Fees. As trading volume increases, the discount percentage grows, reducing the overall Volume Fees based on the discount curve. The total trading volume is the sum of volume transacted within an XCore Group across all asset classes.