There are several types of memberships available that significantly reduce the cost of trading at the CME.
Variance Futures can assist institutional clients and high-volume proprietary traders with the exchange membership process. CME Exchange members benefit substantially from reduced transaction fees when trading products within that member's division. Higher volume traders and institutions further benefit from CME's favorable membership fee structure, which may include fee caps and waivers in certain circumstances.
Membership Types
A variety of membership categories are available, each are available through purchase, lease, gift or bequest, or through family or firm transfer. CME offers four different types of memberships, representing its levels of trading access.
- CME membership - may execute trades in all CME listed contracts.
- International Monetary Market® (IMM) membership - may execute trades in foreign exchange, interest rates, and all IOM and GEM products.
- Index and Option Market® (IOM) membership - may execute trades in index futures, random length lumber contracts and all options.
- Growth and Emerging Markets® (GEM) membership - may execute trades in various products, including those related to emerging market countries.
Current Prices
All CME Lease and Purchase rates fluctuate daily.
Lease Privileges
If you need to temporarily suspend your trading privileges and you don't want to give up your membership status, members are permitted to lease their seat to another broker or trader which allows the member to collect a monthly return on their leased seat. Lease rates and durations vary, so members are not subject to long-term lease commitments.
Reduced Rates
By enrolling in the ECM Program or leasing a CME seat, exchange members can receive up to a 60% discount off their exchange fees (clearing and GLOBEX). Non-member exchange fees are $2.28 a round-turn for CME E-Mini products.
| Fee schedule for ECM-H (& All ETH Trades; Per Side) | ||||||||
Product Category |
Electronic Trading |
Open Outcry Trading (GLOBEX + clearing) |
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| E-mini Equity Index Products | 49˘ |
N/A |
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| Full Size Equity Index Products | 98˘ |
78˘ |
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| Interest Rate Products | 44˘ |
64˘ |
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| Foreign Exchange Products | 44˘ |
60˘ |
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| Agricultural Products | 44˘ |
64˘ |
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Disclaimer
The information contained herein is believed to be accurate, however, Variance Futures makes no representation as to the accuracy of the information contained herein.
ECM Information
- $1,750 Membership Fee (one time charge)
- Exchange & Clearing Fees are $.98 a round turn ($0.78 Clearing plus $0.20 GLOBEX)
- No Monthly Lease Charge
- You must form a corporation, LLC, or partnership with state (filing fees vary from state to state)
- ECM PROGRAM EXPIRES IN DECEMBER 31st 2007
- Once ECM program expires, you have three options:
- Must lease two (2) seats, OR
- Must purchase one (1) seat OR
- Revert back to non-member exchange pricing ($2.28 a round-turn)
Individual Lease Information
- $1,750 Membership Fee (one time charge)
- Must lease one (1) seat
- Exchange & Clearing Fees:
- 0-200 contracts/day - $0.92 a round turn: Exchange Fees are $0.46 a side / $0.92 a round turn, if you trade less than 200 contracts per day, per product ($0.42 Clearing plus $0.50 GLOBEX)
- 201 + contracts/day - $0.42 a round turn: Exchange Fees are $0.21 a side / $0.42 a round turn, with a $50 cap on GLOBEX Fees once you trade more than 200 contracts per day, per product. The first 200 contracts are always billed at $0.46 a side / $0.92 a round turn.
- Monthly Lease Charge (Fluctuates Daily):
- IOM Seat Lease: Approximately $900/mth
- IMM Seat Lease: Approximately $1600/mth
Getting Started With CME ECM Membership
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