CME Group Exchange Membership is a flexible, cost-effective alternative for electronic proprietary trading groups and high volume traders that are not eligible for CME’s existing membership categories and fee incentives. Program participants will be eligible for special GLOBEX transaction and clearing fee incentives for all CME Equity Futures, Currency Futures, Financial Futures, and Meat Futures. CME members who have held trading privileges during the last two years are not eligible for the new program. Corporate Members that do not lease seats (ECM-W’s) but meet the minimum volume requirements (25 r/t per day on average for the previous 3 months) receive reduced rates of $1.28 r/t for Equity Futures and $1.18 r/t for Currency Futures. Corporate members that lease seats receive additional discounts for products traded in their division.
Summary of CME Fees Per Side
Individual Member Application:
You must submit an application for CME membership, which includes questions on your educational, employment, residential and disciplinary history. The application form must be typewritten, filed with a $2,000 non-refundable fee, and include two 2″ x 2″ passport-quality color photographs and either a certified birth certificate or passport.
Your name will be sent to all CME members, and your photograph will be posted on the trading floor. During this posting period, members are encouraged to notify the CME Membership Department if they have any pertinent information about you.
Additionally, the NFA must grant you a registration as either a floor broker or a floor trader, or a temporary license to act as such, before you can begin trading on the CME trading floor (does not apply to GLOBEX traders).
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.
Leasing a seat is a two step process. First, you must apply for and be approved for an Individual CME Membership ($2,000 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.
Cost Analysis: The following table indicate the amount that would be saved each month compared to non-member fees based on the Average Daily Round Turns (ADRT’s) in the left column. The savings is net of the required lease costs at the rate of $900 per month.
Qualification for Membership: Any adult of good moral character, reputation and business integrity, with adequate financial resources to assume the responsibilities and privileges of membership, is eligible for election to membership in the Exchange. Once approved for membership, an individual may purchase or lease a seat in the appropriate CME Division.
Can execute trades in: Any contract listed at CME
Trading floor badge: Gold (indicates who they are and which products they can trade)
Number of memberships: 625
Can execute trades in: Equity Futures, Currency Futures, and Financial Futures and all IMM and IOM futures and all options on futures contracts.
Trading floor badge: Green Number of memberships: 813
Can execute trades in: Equity Futures, Random Length Lumber Futures, options on futures contracts, and all GEM products.
Trading floor badge: Blue
Number of memberships: 1,287
Can execute trades in: Various products, including those related to emerging market countries
Virtual Currency Notice: Sierra Futures a division of Stage 5 Trading Corp. is a member of NFA and is subject to NFA's regulatory oversight and examinations. However, you should be aware that NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets.
*The lower the margin, especially Day Trading Margins, the higher the leverage and riskier the trade. Leverage can work for you as well as against you, it magnifies gains as well as losses.