Leasing a Seat

Discussion in 'Index Futures' started by ChrisMMM, Apr 22, 2008.

  1. I am looking into leasing a seat, what is considered a good price/discount? What brokerage company do you suggest?
    All suggestions are appreciated.
  2. slacker


    Looking into this for myself as well. Trading YM and NQ. Any mistakes or downside to leasing a seat? Tax consequences? Any brokers to avoid? Can a leased seat holder move from one broker to another easily?

    Thank you
  3. Contact the CME directly as they are very helpful and will provide all info you need.
  4. Covert


    You would need to lease 2 different seats in order to get member rates for BOTH YM and NQ. CME Group did not consolidate the seats at the CME and CBOT, so the member rates only apply to the seats that they did prior to the buyout.

    In a general sense, the websites are full of info about the different fee structures that are offered to members/lessees/customers. It's a simple matter of figuring out how much you are trading on average and doing the math.
    Best of Luck
  5. Covert


    What products do you trade?
  6. olias


    Agree with Brownsfan: pick up the phone and call the CME. Tell the operator that you have questions about membership. They're very helpful.

    You should be able to transfer your membership/get the member rates at any brokerage firm....just be sure to let the broker know that you're a member.
  7. mgarc


    buying or leasing a seat will subject you to paying self-employment taxes. so you have to estimate your commission savings versus the extra taxes you will be paying.