CME(Globex) Membership + IB

Discussion in 'Index Futures' started by walterjennings, Jun 19, 2007.

  1. Iv been upping my volume on Globex trades recently and have come to realize I am paying a way too high % of my profits to commissions (30-40%) using IB.

    Looking at the unbundled commission structure on IB, I see that I am viewed as Tier I. I was wondering if anyone has changed tiers for the purposes of saving on commissions using IB? If so how did you go about doing so / which tier are you on now? What is the simplest / cheapest / best way of switching to a different tier that I would be applicable for.

    I am thinking that with the amounts I pay in commissions, paying to be on a different tier would be cost effective. I also heard that if your daily volume is > 50 contracts the daily membership fee is waived?

  2. Looking the clearing fees, it really looks very cheap!

    CME mini for 250 sides=roundturn(right?) ie 500lots is approx 10cts/lot for clearing fees.

    I hope I am getting the right picture.


  3. clearing fees only apply when you let the contract expire right? i never do that. i am aiming to reduce my 1.60~$ exchange/reg fee to something smaller (hopefully one of the 0.32$ tiers.) all the options iv looked at are too expensive. does noone know a way to reduce CME commissions on the cheap?
  4. esmjb


    clearing fees always apply.
  5. minmike


    Clearing fees always apply. There is no way to reduce the fees "on the cheap." Leasing gets them down quite a bit. Buying gets them down even more. It is either worth doing or not.

    It think you were referring to the mini cap when you talked about daily membership fees. That is charge of .25 a car up until $50 per mini product traded. being a member doesn't get that waived. Some JBO's might be able to save you .1 a car.
  6. i think its the eletronic corporate membership that waives the membership fees if you do over 50 contracts/day avg over the month. i still have to read up on it.