trading on member rates

Discussion in 'Professional Trading' started by varunk666, Oct 23, 2008.

  1. varunk666


    I am an extremely High volume trader
    on Eurodollar futures, and I have a large account of over $100,000 . Is there a way
    I can trade on member rates without buying the membership... lease membership rates are high for me..
    Do you know of any prop firms that would accept outside capital and let me trade as part of their group thereby effectively trading at member rates?...
  2. An IMM lease is currently $2800 a month. If you can't save multiples of that $2800 a month by being a member your volume can't be that high.

    There is also the CME Electronic Corporate Membership program.
  3. varunk666


    around 30,000 contracts a day
  4. Commission savings with leased memberships are significantly less than on an owned seat.
  5. Can't be done. CME rules invalidate prop deals involving member rates if you make a capital contribution to said account. And the CME VIGILANTLY checks!
  6. With that size volume I don't understand how you can afford not to be an IMM member.
  7. I read somewhere that you can trade at member rates with
  8. Yes, but the rates for leasees are way below nonmember rates.

    If I am reading the CME fees schedule properly for Eurodollars:

    per side, total clearing and Globex fees

    seat owner $0.19
    seat lease $0.37
    nonmember $1.19

    Saving $0.82 a side with a seat lease is $24,600 for 30,000 sides a day.
  9. varunk666


    there has to be a way to trade at member rates.
    Need to trade with a prop shop with direct connection to exchange since most of my money is made manipulating Prorata/FIFO algos, Last thing I need is to deal with latency issues

    Jeb I have a seat lease, but it is still eating my profits away
  10. morreo


    Yeah, you can't deposit money into a prop shop. It's illegal.

    The best thing you can do is to join a prop shop and just start an account at 0 and then build it up using company capital.
    #10     Oct 23, 2008