Forming a "virtual trading arcade" for lower Globex fees

Discussion in 'Retail Brokers' started by chinook, Feb 28, 2004.

  1. Globex traders,

    CME is coming up with this incentive program for lower Globex fees for trading arcades and electronic proprietary trading groups :

    http://www.cme.com/abt/news/04-35IncentivePricing6225.html

    For instance, NQ/ES total Globex fees will go down to $0.54 from $1.14 per side. Coupled with IB's new unbundled commissions, this translates into $0.60 savings per side (non-member Globex fees are $1.14/side). The article mentions a savings of $0.44/side--anyway at least, the savings will be in the $0.44-60 range.

    I wonder if bunch of us get together and form a "virtual trading arcade" group and still continue trading for ourselves as usual. Maybe we can form a non-profit company and pay a yearly membership fee for taking care of filing fees etc. And under such a group/company we can be eligible for these lower fees.

    First step would be to find out what would be the minimum requirements for being recognized as a trading arcade and electronic proprietary trading group by CME.

    Any suggestions/ideas?

    Chinook