Individual Membership

Any individual, other than an employee of the association, who is at least 21 years of age and who satisfies the CBOT Membership Committee that he/she is suitable to assume the responsibilities and privileges of membership, is eligible to become a member.

Purchase or Lease a CBOT Membership

Following the approval of an exchange membership application, an applicant is allowed six months to procure a membership privilege. A bid to purchase a membership may be submitted at any time, i.e., before an application for membership is submitted, while an application is being processed or after an application is approved. A lease agreement or transfer forms may be submitted once approval is secured.

An applicant may lease a CBOT membership by paying a monthly ‘rent’ to an owner of any particular membership. Applicants can find a member to lease from through Dorman Trading or a list of firms seeking lessees and lessors is available in Member Services or on the “Seat Price” page.

Sponsors

Sponsors are not required, however, the Membership Committee reserves the right to request a sponsor. If required, the sponsor must be a B-1(Full) or B-2(AM) member who is a registered member, partner or officer of the applicant’s Primary Clearing Member (“PCM”). If the applicant will not trade, the sponsor may be a B-1 (Full) or B-2 (Associate) Member who has been acquainted with the applicant for at least 90 days.