CBOT Membership


CBOT Membership has several types of exchange memberships available that significantly reduce the cost of trading futures products on the CBOT. The cost analysis table below will compare the difference between leasing and purchasing a CBOT seat.

View CBOT Membership Pricing

Summary of CBOT Fees Per Side

Non Member Member Owner Member Lease ECM IIP
E-mini Index $1.16 $0.11 $0.26 $0.30 $0.54
Financial Futures $0.60 – $0.85 $0.12 $0.26 $0.44 $0.49
Agricultural Futures $1.95 $0.20 $0.35 $0.96 $1.06

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.

Application for  a CBOT Individual membership

Once you have decided a CBOT Individual memberhsip is right for you, apply for membership.

Each of the individual CBOT memberships involve the same application process.

To apply for CBOT membership you must submit:

  • A typewritten application for membership, including answers to questions on education, employment, residential, and disciplinary history; and completion of a financial statement

  • A $2,000 non-refundable fee made payable to CME Group

  • Two 2 inch by 2 inch passport-quality color photographs

  • A certified birth certificate or passport 

During the application process, we list the name of each applicant in our Weekly Special Executive Report.

If we approve your membership application, you have 30 days to acquire a membership.

You can acquire a membership via:

  • Purchase

  • Lease from a current member

  • Firm transfer 

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.

Individual Membership Divisions

There are five levels of individual CBOT memberships. Each type determines eligibility for trading certain products at reduced rates and provides access to trading on the CME Group trading floor.

(B-1) Full Members (FULL)

  • Trades: All Financial and Agricultural Futures and Options contracts

(B-2) Associate Members (AM)

  • Trades: All Financial Futures and Options and Agricultural Options only

(B-3) Government, Instruments Market (GIM) Members

  • Trades: Financial Futures

(B-4) Index, Debt and Energy Market (IDEM) Members

  • Trades: Fed Fund and Index Futures

(B-5) Commodity Options Market (COM) Members

  • Trades: Options

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