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What CME membership gives you reduced fees for the ES?
I've been thinking about purchasing a cme or iom or imm or gem membership on the CME so I can trade the ES with smaller commissions/fees. I've been trying to figure out the cheapest membership to get that has the discounted fees specifically for the ES. I've spent 2+ hours searching the web, and I have yet to find an answer. The question boils down to finding out which products correspond with which membership level, and that is something that I can't seem to find anywhere.
Can you help answer these questions from other members on NexusFi?
Depending on who you clear with, they may have a seat lease facilitation service. Some firms will let you piggyback on thier CME CEIP or offer a ECM-W. Make sure you do the math on costs. if you arent doing 25 turns a day. this isnt for you. Depending on leasing prices/options, the break even is somewhere between 25 and 50 turns a day.
For MYSELF, i hit 14k in commissions one year, and i looked deeply into it, because thats about the tipping point. Rather than go down this road, which was almost exactly 14% "operation costs from profit", i began to trade with more runners, or smaller size and larger targets. In 2014 my "operations costs" were down to about 6% of my profit, and my broker stopped sending me fruit baskets
I'm actually already using the lifetime license through the NinjaTrader brokerage. Unfortunately that only reduces the commissions I pay to Ninjatrader. The purpose of the CME membership is to reduce the fees paid to CME, which are separate.
