Whether you are trading E-mini Futures, Currency Futures or any of the many CME products, the CME Exchange fees and Globex fees are likely to be the most expensive part of your transaction. At $1.15 per side for an E-mini or $1.60 per side for a Currency contract, the CME Exchange fees are probably greater than your commissions and platform charges. What you can do about it is to qualify for “member rates”.
Summary of CME Fees Per Side
|Non Member||Member Owner||Member Lessee||ECM 106.R||Incentive Program|
Member rates are available for all types of traders and make sense for anyone trading 1,000 contracts or more per month. The CME has a myriad of programs:
Purchase a Membership
The CME has 4 categories of memberships with an open market place: CME Seat Prices. The application process costs approximately $2,000 and takes approximately 6 weeks from start to finish.
Lease a Membership
All classes of CME memberships are available for lease. Lease rates are variable: CME Lease Prices. Leases can be terminated upon 30 days notice. The application process costs around $2,000 and takes approximately 6 weeks from start to finish.
Electronic Corporate Member (ECM 106.R)
The CME has for the past several years offered a reduced Exchange rate to corporations and LLCs that trade an average of at least 50 contracts per day during each quarter. The ECM rates are available to a single trader or a prop group. The program is currently in effect and has been renewed annually ECM Q&A. The application fee is $2,000.
The CME offers a number of “Incentive Programs”, directed at different parts of the world. The incentive programs offer fee waivers or reductions to new traders from locations where the CME has yet to make inroads. There is a new for Latin America to coincide with the launch of the joint venture with Brazil. There is also an Emerging Market program that covers the world outside the 20 most developed economies.
For more information about these membership or incentive programs, please contact us.