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RESOURCES Membership Compliance
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ECMP (Electronic Corporate Membership Program) The CME introduced a new Electronic Corporate Membership Program (ECMP) to offer a flexible, cost-effective alternative for electronic proprietary trading groups and trading arcades 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 interest rate, commodity, foreign exchange and E-mini™ stock index products. Applicable membership requirements will be waived through December 2007. 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 RT's per day on average for the previous 3 months) receive reduced rates of $1.28 RT for E-mini Equity Index Products and $1.18 RT for Foreign Exchange products. Corporate members that lease seats receive additional discounts for products traded in their division. Please read the FAQ below for more information. Individual CME Membership Individual Member Application for the CME 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 $1,750 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). You can log on to www.nfa.futures.org for registration, you will also need fingerprints. Fingerprinting can be done at the NFA office, 200 W. Madison, 14th floor, CME Membership -- Leasing a Seat Individuals who own, hold, or have owned or held memberships in any division in the Leasing a seat is a two step process. First, you must apply for and be approved for an Individual CME Membership ($1,750 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. A $500 one-time lease application fee is charged when initially leasing a seat. Seat lease prices are variable Membership Application Process and Forms Cost Analysis The following tables indicate the amount that would be saved each month compared to non-member fees based on the Average Daily Round Turns (ADR's) in the left column. The savings is net of the required lease costs at the rate of $900 per month.
Qualifications 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.
Current Price for IOM Division (Index futures) as of 5/19/07 Recent Purchase: $254,000 Recent Individual IOM Lease: $900 per month
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