Fool me once shame on you. Fool me twice shame on me. You wasted my time once. That is enough for me.
Jearnest, Only LLC's or also corporations worldwide ? What would be the price after oct 2005 to lease a CME seat ?
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Any LLC worldwide (you would need the ability to dole out gains and losses like a partnership, ie an LLC...if it were only C or S corp. then you would have to do it by stock ownership %). I don't know what the price would be in Oct 2005, but the price today is: IOM purchase $175,000, lease $1300 IMM purchase $247,500 lease $2600 You would actually need to lease two seats or purchase one in Oct. 2005 to continue the low rate schedule. Jay
For purposes of qualifying for Electronic Corporate Membership (ECM), I don't see the distinction between "proprietary trading firms" and "hedge funds". The rules say that hedge funds that "hold and/or manage third-party funds are not eligible for ECM." But isn't that what proprietary trading firms do? Some third-party must own them and the firm "manages" their funds, right? The rules also say a proprietary trading firm "is a legal entity that trades its own capital." Well, hedge funds are legal entities that trade their own capital also. Hedge funds are in turn owned by their investors just as proprietary trading firms are owned by their investors/owners. Is the CME making an unfair distinction? Aaron Schindler Schindler Trading
Are purchases being financed or is it a 100% cash deal? Do you guys arrange and process the paperwork for the exchange?