Requirements for CME membership
|November 22nd, 2015, 06:27 PM||#11 (permalink)|
Futures Experience: Advanced
Broker/Data: Advantage Futures
Favorite Futures: Energy
Posts: 1,518 since Dec 2013
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I got (leased!) my IDEM membership not for it's trading privileges but because it made me an Eligible Contract Participant ("ECP") under the commodity exchange act. Having ECP status enabled me to trade a lot of Over-The-Counter energy products, and trade on ICE and IDEM was (probably still is) the cheapest seat I could get. Since Dodd-Frank though, nearly everything is now a regulated future and as such the ECP designation is no longer valuable.
I now have (lease) the NYMEX seat for the reduced fees. 1000 lots a month and it's paid for.