CBOT Lease Question

Discussion in 'Trading' started by krh7, Jul 6, 2005.

  1. krh7

    krh7

    Just wondering if I can trade the 5 year, 10 year, and 30 year note/bond futures on the screen with a IDEM lease.

    I can't tell if I need to pay the $1000+ a month to lease a full seat or if I can get a different type of lease for cheaper. Anybody know?
     
  2. mcurto

    mcurto

    To trade 5/10/30's you need to lease either a GIM or an AM membership. This will enable you to get member fees while trading on the screen.
     
  3. nitro

    nitro

    No

    IDEM allows trading YM and the pit DOW and a few other contracts, most of them uninteresting.

    nitro
     
  4. nitro

    nitro

    Full lease: $4293
    GIM lease: $995
    Associate lease: $457
    COM lease: $406
    IDEM lease: $175

    nitro
     
  5. Thanks nitro.

    How did you figure this out? And why is the associate less than the GIM?

    It is good to know that the leases are that low.
     
  6. nitro

    nitro

    YW. I called the CBOT a few days ago.

    Not sure about the reason for Associate vs GIM price, as I was mostly interested in the IDEM.

    nitro
     
  7. ozzy

    ozzy

    Can someone explain the benefits of having a lease. Are commisions reduced and if so by how much.

    Thanks,
    ozzy
     
  8. mcurto

    mcurto

    The AM membership is 1400 to lease versus the GIM which is 900 (nitro had them flipped around). I couldn't exactly tell you how much is saved, it all depends on how much size you are trading. If you are actively scalping or position trading every day more than a couple trades, it would probably be worth it. Furthermore, you will most likely get commission caps from your clearing firm if you are trading actively as a member.
     
  9. flyers&divers

    flyers&divers Guest

    The lease fee may not be the only expense.

    In the old days one had to have one's own clerk to match and submit trades.
    If one did only a few trades a day it was not worth it.

    Is the matching done electronically now?

    Please would someone comment on this?
     
    #10     Jul 6, 2005