With all the IOM and IDEM seat leases available it must be tough times for professional ES and YM traders. At the CME the price of an IOM seat is $295,000 and lease price is $1,700 a month. There are 43 seats available for lease. At the CBOT the price of an IDEM has dropped to $13,000 and lease price is $127.17 a month. There are 19 seats available for lease. I don't remember the last time so many IOM and IDEM seats were available for lease.
Really tough times for professional ES traders. Only 2 months later and IOM seat prices are way down. Last IOM seat sold went for only $162K (bid is now $180K). IOM lease prices are down to $1,100 a month, but one 3 month lease just went for only $800 a month.
(B-4) IDEM (Index, Debt and Energy Market) Members: Trades: metals futures, Fed Funds, and index futures Badge: Black http://www.cmegroup.com/company/membership/types-of-membership-cbot.html
that is not good for the trader. the algos are pushing them out and this is proof. lease and seat prices are a function of trader being able to turn a profit.the exchanges will come to there senses soon.if the markets are totally ruled by algo s, only guys will be small stupid retail and the robots. volume will dry up , just what you are seeing.
I've been thinking about an IDEM seat lease or purchase. I've heard that the purchase amount can be used as collateral in your trading account.
Time to update this thread. It must be extremely tough times for professional ES and YM traders. At the CME the price of an IOM seat has dropped to $95,000 and lease price is $450 (or less) a month. There are 32 seats available for lease. At the CBOT the price of an IDEM seat has dropped to $7,500 and lease price is $66.87 a month. There are 17 seats available for lease. Looks like anyone who wants a seat already owns or leases one.
and considering owning or leasing a seat automatically makes you pay FICA taxes on earnings while not having one doesn't i'm not suprised.