If you use google you'll find the following info or most brokers have the info... * Chicago Mercantile Exchange® (CME) membership Can execute trades in: Any contract listed at CME Trading floor badge: Gold (indicates who they are and which products they can trade) * International Monetary Market® (IMM) membership Can execute trades in: Foreign exchange, interest rate and equity index futures, and all IMM and IOM (see below) futures and all options on futures contracts. Trading floor badge: Green * Index and Option Market® (IOM) membership Can execute trades in: Index futures contracts, random length lumber contracts, all options on futures contracts, and all GEM products. Trading floor badge: Blue * Growth and Emerging Markets (GEM) membership Can execute trades in: Various products, including those related to emerging market countries Trading floor badge: Gray Mark
Actually, I think one farmer in Wisconsin used to set the price as he had a handle on the market. Today the large producers can set the price in products like milk by throwing its weight around. Big railroads are doing same for wheat...overwhelming smaller businesses and driving away competition (see yesterdays' NYT's.)
Don't forget Electronic Leases. See comparison chart. Essentially you have to do about 25 r/t day. I've done 73 r/t today (on scalp side...I didn't say I don't also trade longer term). Just waiting for conclusion over there then close up for the day. http://www.amptt.com/CMEseatlease.html
boid, whats your monthly lease price and your round turn cost on futures, or if i paid 900 mo lease and did 100 rts a day, what would be my rt cost
at http://www.cmegroup.com/trading/fx/files/FX248-2010_FX_Product_Guide_and_Calendar.pdf platform fees for TT can be up to about $650 one exchange Commissions are up to you and your broker. I have three futures accounts now... You shouldn't pay more than $4 r/t/ in any case without any membership. A full member pays almost nothing after a certain point... or they did at CBOT, but would trade 500 + a day. Electronic lease becomes moot at certain point. Call your broker after close and milk him for facts. They will walk you through the process... Gotta go..
ammo, as nobody really answered your q, I get 1.58 rt on ES and monthly lease 600 for iom, electronic membership