Hello. Can we be a member of CME all using the IB broker and benefit from the reduction of the members' commissions ?
yes, call CME membership and get the PDF’s sent to you fill in and return. Buy seat, transfer money including $2000 admin fee. Email memberpricing at interactive brokers.com and they will apply exchange fee waiver to your account.
It’s always amazed me how day traders and Algo traders will do crazy volume and they never consider leasing or buying a seat.
I am a young quant in the world of algorithmic trading. so I'm very interested to know that. And considering the price of a CME seat, it is really accessible to individuals and it can help scalpers to save money.
Here is all the pricing info. You can also lease a seat, which is pretty reasonable, but your commission discount is less. It's easy to calculate breakeven commission volume once you have all of the pieces. https://www.cmegroup.com/company/membership/membership-and-lease-pricing.html
It may be easy to calculate breakeven commission volume, but purchase, lease or similar arrangement immediately incurs professional data costs/fees, and trading income for USA taxpayers, being subject to SE tax, currently at 15.3% on the first 137,700, reduced thereafter. Just saying
Yep, just the membership cost and commission savings aren't all the pieces! It definitely requires a spreadsheet.