whats the cheapest way to trade a high volume of single futures contacts per month? do members of a stock exchange trade for free? how much does it cost to join? is there any volume in single stock futures or the emd future contract?
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as far as my understanding it's not so much a volume requirement to lease/buy a seat, but a point at which your volume makes it worthwhile to pay for the seat. at the beginning of the summer i was paying 840 but last month had dropped to 675 and i wouldn't doubt that price continues to drop rapidly to lease a seat for bond futures. it gives me roughly a 28 cent discount per roundtrip. so if you do the math if you trade roughly 150 or so contracts a day it makes it profitable to lease a seat, but with older prices at times it was the equivalent of about 300 to 350 if i remember correctly, so don't go getting into a long arrangement if you are only making the cut by a contract or two.
I suggest you look at the One Chicago website before you even open a trading account my friend, the volume is anemic in SSF's. Paper trade ES first, before you buy a seat!
If you're trading mostly Globex products, and you do at least 25 sides per day, then you might want to look at a CME Electronic Corporate Membership (rule 106.R). The application fee is $2,000 and you have to apply as a corporation (which means you'll have to create one if you don't already have one), but you're clearing fees for the mini equity indices and FX contracts is $1.18 RT as opposed to $2.28 RT. If you lease an exchange membership you can get even more aggressive discounts on the exchange fees, however it costs a lot more on a monthly basis, and your trading gains will get counted as earned income in the eyes of the IRS so you'll have to pay employment taxes on it. An ECM is not considered a full membership, and thus, you are not responsible for paying employment taxes on any of your gains.
Sure i think it is wise to apply for ECM-W to get the CME discount rate for the Fees. It takes about a month for processing application. Fee is 2000 and after that you do not have to pay any lease / rent Way to go
It's 50 sides per day to be elligible. But how do they calculate quaterly volume? Is it CME GROUP wide? CBOT , CME or NYMEX wide? Product family wide?