CME Membership is a flexible, cost-effective alternative for high volume traders and electronic proprietary trading groups of CME futures products. Program participants will be eligible for reduced Globex clearing and exchange fees for all CME E-mini Index Futures, and FX Currency Futures. CME membership enables you to trade specific products at reduced rates and lower fees.
Whether you are trading E-mini Index Futures, or FX Currency Futures, theCME Exchangefees and Globex fees are likely to be the most expensive part of your transaction. At $1.16/side for an E-mini Index or $1.60/side for a FX Currency contract, theCME Exchangefees are probably greater than your commissions and platform charges. As a CME member, you do not pay any NFA fees and enjoy reduced exchange fees.
Summary of CME Fees Per Side
Non Member
Member Owner
Member Lease
ECM
IIP
E-mini Index
$1.16
$0.35
$0.47
$0.50
$0.51
FX Currency
$1.60
$0.32
$0.52
$0.44
$0.54
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 $350 per month.
Avg. Daily R/T
ECM
Lease
Own
25
$510
$490
$805
50
$1,020
$1,180
$1,610
75
$1,530
$1,870
$2,415
100
$2,040
$3,300
$3,960
125
$2,550
$4,175
$4,950
150
$3,060
$5,050
$5,940
175
$3,570
$5,925
$6,930
200
$4,080
$6,800
$7,920
225
$4,590
$7,675
$8,910
250
$5,100
$8,550
$9,900
275
$5,610
$9,425
$10,890
300
$6,120
$10,300
$11,880
325
$6,630
$11,175
$12,870
350
$7,140
$12,050
$13,860
375
$7,650
$12,925
$14,850
400
$8,160
$13,800
$15,840
425
$8,670
$14,675
$16,830
450
$9,180
$15,550
$17,820
475
$9,690
$16,425
$18,810
500
$10,200
$17,300
$19,800
Qualifications for CME Group 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.
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.
Chicago Mercantile Exchange (CME) Membership
Can execute trades in: Any contract listed at CME
Number of memberships: 625
International Monetary Market (IMM) Membership
Can execute trades in: Equity Futures, FX Futures, and Financial Futures and all IMM and IOM futures and all options on futures contracts.
Trading floor badge: Green Number of memberships: 813
Index and Option Market (IOM) Membership
Can execute trades in: Equity Futures, Random Length Lumber Futures, options on futures contracts, and all GEM products.
Number of memberships: 1,287
Growth and Emerging Market (GEM) Membership
Can execute trades in: Various products, including those related to emerging market countries
