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CME Membership Leases

Did you know that you can receive reduced fees for trading by applying for membership (approval not guaranteed) or leasing a seat at the CME? High volume traders of CME futures products can take advantage of reduced exchange fees on each trade they make by becoming a CME Electronic Corporate Member (ECM-W) or an Individual Member. Normally, retail traders pay $2.28/rt in exchange fees and $.04/rt in NFA fees for an Emini S&P trade. As a member, traders do not pay any NFA fees and enjoy the reduced exchange fees. Optimus Trading is here to assist you through the application process for submission to the CME.

Please fill out the form to the right and one of our experienced brokers will contact you to present you with all the available options and walk you through the application process, step by step.

ECMP (Electronic Corporate Membership Program)

Electronic Corporate Membership is a class of membership under CME Rule 106.R. that allows proprietary trading firms to receive discounted fees for their electronic proprietary trades that are done by qualified registered traders in accordance with CME policies. Electronic Corporate Members are not eligible for discounted fees on their open outcry trades, nor are they allowed to access CME’s trading floors.

Visit the CME site through the link below for more information:

Membership at the CME Group

Individual Member Application for the CME

Membership enables you to trade specific products at reduced rates and lower fees, and to trade directly from the trading floor. Memberships can be bought, sold and leased. You can apply for and hold a membership at CME, CBOT or NYMEX, or all three exchanges – depending on the products you intend to trade. Rights and privileges of membership are exchange-specific. CME Group also owns the Commodities Exchange – or COMEX.

Process for CME Individual Membership

To apply for CME membership you must submit:

  • A typewritten application for membership, which includes
    • Answers to questions on education, employment, residential and disciplinary history; and
    • Completion of a financial statement of assets, liabilities and net worth;
  • A $2,000 non-refundable fee made payable to CME Group;
  • Two 2" x 2" passport-quality color photographs; and
  • A certified birth certificate or passport

Upon approval on the ECM-W membership, 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.

CME Membership -- Leasing a Seat

Individuals who own, hold, or have owned or held memberships in any division in the
past two years cannot participate in the ECM Program. Please note that an individual who owns a firm that wishes to become an ECM-W participant and who has also been a CME member in the past two years is eligible to apply. The only restrictions are on the firm’s traders – a trader trading the account of an ECM-W firm may not have held CME membership in the past two years.

Leasing a seat is a two-step process. First, you must apply for and be approved for an Individual CME Membership ($2000 application fee). After membership is approved, you must enter a lease agreement with a seat holder. The lease arrangement is normally coordinated with your clearing firm.

Disclaimer

The information contained herein is believed to be accurate; however, Optimus Futures makes no representation as to the accuracy of the information contained herein.

Individual Lease Terms Overview

  • 2000 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: Currently between $250 & $350 per month.
    • IMM Seat Lease: Currently between $750 & $850 per month