Full Clearing FCM

If anyone here at ET that reads this and that works for a Full Clearing FCM at the CBOT, I would love for you to please contact me offline (PM me or leave me contact information on this thread) to potentially become a customer.

Also, anyone on ET that trades directly thru a Full Clearing FCM at the CBOT, I would love to ask you a couple of questions on how to get started (requirements, etc) on opening an account directly with a Full Clearing FCM.

nitro

 

Hi Nitro,

We might be able to assist you. I'm an IB clearing Advantage LLC, GHco, Refco, and RCG. I'm in Chicago. Feel free to PM me or drop an e-mail. jbarry@infinityfutures.com if you have any questions.

 

Josbarr,

Thanks for the reply.

Am I right in that an Introducing Broker is not a full clearing FCM? There are lots of Introducing Brokers on ET, e.g., Velocity, FFastTrade, etc.

I believe what I would like is someone from this list to contact me:

http://www.cbot.com/cbot/pub/page1/1,3248,1055+2+16,00.html

Notice that InteractiveBrokers is a Full Clearing FCM, but I already have their information.

nitro

 

No Prob.

 

PM me here during the weekend or at jstripling@alaron.com during the week. Alaron is a full clearing firm of both the CBOT & CME.

p.s. I sent you a pm first but it said your box was full.

Jay

 

Jay,

Thanks for the reply. Will do.

BTW, I cleared up my Inbox if you have a phone #.

nitro

 

One thing to clear up below Velocity Futures is not an IB they are an FCM

 

http://www.velocityfutures.com

 

I don't understand:

From the FFastTrade (an Introducing Broker) Website:

RemotePro Trading Platform for the MiniDow:

Broker Fee = .50
Exchange Fee = .80
NFA Fee = .02
Per Side/RT = $1.32/2.64

From the Velocity Futures (an FCM) website for the MiniDow:

Contracts per Month = 0-4999
Per Side(USD) = $1.400
Per RT(USD) = $2.80

You are .08 cents per side more expensive per side or .16 per RT. The rest of the website shows similar differences for other products:

http://www.ffasttrade.com/content/commissions/charges.htm
http://www.velocityfutures.com/cbot_commissions.html

I would have expected the the exact opposite, that is, I would expect an FCM to be .08 per side _less_ than an IntroducingBroker?

FWIW, I also really like the way that FFast breaks down the fee so that if I lease or own a seat, I can now do the math myself for the reduced clearing and NFA fees. The one thing that I do like about your website is that you also show breakdowns by volume.

nitro

 

We have a good breakdown for CME seat leasing, we just don't have one for cBot... our sliding scale as you have seen is below...



Contracts per Month Per Round Trip(USD) Per Side(USD)
0-4999 $2.15
5000-9999 $2.00
10,000-14,999 $1.80
15,000-19,999 $1.60
20,000-50,000 $1.45
50,000+ $1.30 *


Andrew
VelocityFutures.com