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What CME membership gives you reduced fees for the ES?
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What CME membership gives you reduced fees for the ES?

  #1 (permalink)
Elite Member
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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.

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  #3 (permalink)
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its called a CME IOM seat lease. http://www.cmegroup.com/company/membership/membership-pricing.html#pricingType=1 runs about 300 bucks/mo.

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

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  #4 (permalink)
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Did you check the NinjaTrader Brokerage to see if their discounted fees (Lifetime purchase) compare? Might be an economical means to reduce fees.

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  #5 (permalink)
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Thank you, that answers my question.

Thanks a bunch!

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  #6 (permalink)
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NJAMC View Post
Did you check the NinjaTrader Brokerage to see if their discounted fees (Lifetime purchase) compare? Might be an economical means to reduce fees.

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.

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fluffian View Post
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.

You should try calling the CME, I'll bet they have answers for you. A decent futures broker might also be able to tell you about your options.

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