CME fees are listed at: http://www.cme.com/risk_management/clearing_house/fees.cfm Click on the links on the left side of the page to see lessee rates, member rates and nonmember rates. Summary: A lessee can expect to pay $1.4 less than retail in fees for Globex trades of EMINI products. A member can expect to pay 1.63 less than a nonmember for those same trades.
Dear Tripack, thank you for your response. I'm a little bit confused. I hope you could help me out, since it looks like you know very well the subject. I intend to trade only during regular hours. By doing this, I won't be using the GLOBEX, will I? So, If I lease that seat for around U$3.000 a month. How much will I be paying, including all fees (clearing, exchange..etc)? Also, what is the difference among: 106 H/J/N, CBOE, Equity / Clearing, Lessee Member/106F Employee and Non-member ? Sorry for bothering you with so many questions. Regards Raphael
If you're trading the MINIs, which it sounds like you are, then virtually all your trades will be on the CME's electronic Globex system, as opposed to being executed in the pit via open outcry. How much you end up paying is strictly a matter that is negotiated with your clearing firm based on your volume and financial condition. The fees listed previously give you an indication of the variable exchange costs, on top of which there will be clearing costs. If you are saving $1.40 per contract you can figure that you will break even on your monthly lease if you do over (3000/1.4) = 2,143 round turns per month, assuming you can't negotiate a better deal than that. There are simple definitions for the different customer types listed at: http://www.cme.com/risk_management/clearing_house/customerdefinition.cfm and if you search a bit you can find more detail.
I've been wondering the same thing with the daily volume increase of the E-mini's. The only way it's going to happen though, is if another exchange gives them more competition. I believe the CME's exclusive rights to the S&P 500 and Nasdaq 100 doesn't expire until 2009.
http://www.ascendtrading.com most firms like PFG best and lind-waldock will let you haggle them down some but they are still more than above metioned firm if i were you i would also look into advancedfuters never use them just seen add. good luck
does anyone know of another broker using the same platform as PFGbest,from what I see they're a little high but of all the platforms I've looked at theirs suit me best.If anyone has comments about PFG as a broker I'd appreciate it. Thanks