Full Clearing FCM

Discussion in 'Index Futures' started by nitro, Apr 16, 2004.

  1. nitro


    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.

  2. josbarr


    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.
  3. nitro



    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:


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

  4. josbarr


    No Prob.

  5. JayS


    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.

  6. nitro



    Thanks for the reply. Will do.

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

  7. KeyWest

    KeyWest Velocity Futures

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

    KeyWest Velocity Futures

  9. nitro


    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:


    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 :confused:
  10. KeyWest

    KeyWest Velocity Futures

    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 *

    #10     Apr 26, 2004