Chicago Mercantile Exchange Launches Global Incentive Programs

Discussion in 'Index Futures' started by Xenia, Feb 20, 2004.

  1. Xenia


    CHICAGO, Feb. 6, 2004 — Chicago Mercantile Exchange Inc. (CME), today announced it will offer two additional pricing incentive programs to further develop its customer bases in North America and Asia.

    Effective April 19, CME will introduce 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 of 44 cents per side for all CME interest rate, commodity, foreign exchange and E-mini™ stock index products. Applicable membership requirements will be waived through October 2005. CME members who have held trading privileges during the last two years are not eligible for the new program.

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  2. Xenia


    Program Description

    Designed to significantly reduce total transaction fees on products traded on CME's GLOBEX® electronic trading platform, the program offers discounted rates to proprietary trading groups and trading arcades located in Europe.

    Eligible customers will pay total transaction fees (including GLOBEX charges and clearing fees) of 44 U.S. cents per side for any product traded on the GLOBEX platform - a rate reduction of between 61 and 73 percent of the usual fee.

    Discounted pricing will normally remain in effect for 18 months after GLOBEX connectivity is established. Discounted rates apply to any contract offered on the GLOBEX platform, including E-mini™ S&P 500®, E-mini NASDAQ-100®, Eurodollar and foreign exchange futures. GLOBEX trading is available virtually 24 hours a day, five days a week.

    Program Eligibilty

    European-based proprietary trading groups*, both those that trade group funds exclusively and arcades that trade either corporate or commingled dealer/corporate funds, where owners, employees and contractors trading in the name of the group are eligible to participate in this program.

    To participate, qualified groups must register with CME and have a clearing relationship with a CME clearing member. All participating traders must be located in Europe, associated with an eligible European-based group, and be registered by the group with CME. In addition, each group must have a direct connection to the GLOBEX platform via a CME European Access Point. Participating groups must also use a CME-certified application for GLOBEX order execution and market data.

    For more information, or to obtain enrollment materials, please contact the CME London Office at 44 20 7623 2550 or via e-mail at