Exchange Memberships
Reduced Rates & Lower Fees
vCap Futures can assist high frequency online futures traders and institutions with the CME, CBOT and NYMEX/COMEX exchange membership process. Exchange members benefit substantially from reduced transaction fees when trading commodity futures and options contracts. Higher volume futures traders and institutions further benefit from the various exchange’s favorable membership fee structure, which may include fee caps and waivers in certain circumstances.
* Please note that the CME Group represents the merger of the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and its commodity exchange division, Commodity Exchange, Inc. (COMEX). The formation of CME Group did not, however, result in any change to trading privileges for CME, CBOT and NYMEX/COMEX members. Therefore, the CME, CBOT and NYMEX/COMEX memberships are entirely separate from one another and offer access to different products at different rates and conditions.
Lease Privileges
If you need to temporarily suspend your lease privileges and you don’t want to give up your exchange membership status, exchange members are permitted to lease their seat to another broker or trader which allows the member to collect a monthly return on their leased seat. Lease rates and durations vary, so members are not subject to long-term lease commitments.
There are three different types of CME memberships available for our online commodity futures trading clients. Please select the appropriate membership type below.
CME Individual Membership
The divisions of CME memberships for individuals are as follows:
- (B1) CME membership: may trade any CME-listed contract
- (B2) International Monetary Market (IMM) membership: may trade foreign exchange, interest rate and equity index futures, and all, IOM and GEM products.
- (B3) Index and Option Market (IOM) membership: may trade index futures contracts, random length lumber contracts, all options contracts, and all GEM products.
- (B4) Growth and Emerging Markets (GEM) membership: may trade various products, including contracts related to emerging market countries; restricted financials.
Eligibility and Requirements
To be an individual member of CME, you must be an adult and possess good moral character, a good reputation and business integrity. In addition, you must have adequate financial resources to assume the responsibilities and privileges of membership.
Forms for CME Individual Membership
CME Corporate Membership
CME corporate membership allows member firms to receive preferential Exchange fee and performance bond rates on its proprietary trading of eligible CME products when such proprietary trading activity is conducted in accordance with CME Group’s Fee Policies listed below.
Eligibility and Requirements – CME Rule 106.H. Trading Membership
- Hedge Funds, commodity pools, banks, futures commission merchants, foreign brokers, broker-dealers, commodity trading advisors, introducing brokers, commercial entities, proprietary trading firms and other corporate entities are eligible for CME Rule 106.H. trading member firm status.
- The member firm is required to purchase one (1) or lease two (2) memberships (CME, IMM or IOM Division) in the division in which preferential Exchange fee and performance bond rates are desired. Shares of CME Group are not required.
- The membership(s) owned or leased may be held by the member firm or a principal or employee of the member firm. The principal or employee must be approved for CME Individual Membership.
- The member firm is eligible for preferential Exchange fee rates for its proprietary trading of products (open auction and electronic) within the division of membership(s) owned or leased when such trading activity is conducted in accordance with CME Group Fee Policies listed below. The trading activity of parent companies, affiliates, subsidiaries or customers of the member firm are not eligible for preferential Exchange fee rates.
- For hedge fund and commodity pool member firms, only the proprietary trading activity of the hedge fund member firm is eligible for preferential Exchange fee rates and the rates do not apply to the trading activity of its investment
For more information:
- CME Rule 106.H. Corporate Membership Summary
- CME Group’s Fee Policy Bulletin for Member Firm Accounts
- CME Fee Schedule for CME Rule 106H Corporate Members
- CME Membership Prices
* All Lease and Purchase prices fluctuate daily.
Forms for CME Corporate Membership
CME Electronic Corporate Membership
CME electronic corporate membership allows member firms to receive preferential Exchange fee and performance bond rates on its electronic trading of eligible CME products when such proprietary trading activity is conducted in accordance with CME Group’s Fee Policies listed below.
Eligibility and Requirements -CME Rule 106.R. Electronic Corporate Membership
CME electronic corporate membership is only available for eligible proprietary trading firms. Hedge Funds, commodity pools, banks, futures commission merchants, foreign brokers, broker-dealers, commodity trading advisors, introducing brokers or other firms that hold and/or manage third party funds are not eligible for CME electronic corporate membership.
There are two types of CME electronic corporate membership:
CME electronic corporate member firm holding membership (CME ECM-H). CME ECM-H are required to purchase one or lease two memberships (CME, IMM or IOM Division). The membership(s) must be owned or leased by the member firm. Shares of CME Group are not required. The preferential Exchange fee rates of ECM-H are lower than those of an ECM-W;
OR
CME electronic corporate member firm volume incentive program (CME ECM-W). CME ECM-W have a waiver of the membership holding requirement but it must meet certain volume trading requirements on a quarterly basis (i.e. it must trade an average of 50 contracts/sides per business day for the quarter). Volume and participation is evaluated on a quarterly basis. The preferential Exchange fee rates of an ECM-W are higher than those of an ECM-H.
- For CME ECM-H, the membership(s) owned or leased may be held by the member firm or a principal or employee of the member firm. The principal or employee must be approved for CME individual membership. However, trading floor access is not conferred upon the holder of the membership.
- The member firm is eligible for preferential Exchange fee rates for its proprietary trading of products (electronic only) when such trading activity is conducted in accordance with CME Group Fee Policies listed below. The member firm is not eligible for preferential Exchange fee rates on open auction trades and is not granted access to CME’s trading floors. In addition, the trading activity of parent companies, affiliates and subsidiaries of the member firm are not
For more information:
- CME Rule 106.R. Q&A
- CME Group’s Fee Policy Bulletin for Member Firm Accounts
- CME Fee Schedule for CME Rule 106H Corporate Members
- CME Membership Prices
* All Lease and Purchase prices fluctuate daily.
Forms for CME Electronic Corporate Membership
There are three different types of CBOT memberships available for our online commodity futures trading clients. Please select the appropriate membership type below.
CBOT Individual Memberships
There are five levels of individual CBOT memberships. Each type determines eligibility for trading certain products at reduced rates and provides access to trading on the CME Group trading floor. A different color trading badge (for wearing on the trading floor) is associated with each level of membership:
- (B-1) Full Members: may trade all financial and agricultural futures and options contracts
- (B-2) Associate Members: may trade all financial futures and options and agricultural options only
- (B-3) GIM (Government, Instruments Market) Members: may trade financial instrument futures
- (B-4) IDEM (Index, Debt and Energy Market) Members: may trade metals futures, Fed Funds, and index futures
- (B-5) COM (Commodity Options Market) Members: may trade options
Eligibility and Requirements
To be an individual member of CBOT, you must be an adult and possess good moral character, a good reputation and business integrity. In addition, you must have adequate financial resources to assume the responsibilities and privileges of membership.
Forms for CBOT Individual Membership
CBOT Corporate Membership
CBOT corporate membership allows member firms to receive preferential Exchange fee and performance bond rates on its proprietary trading of eligible CBOT products when such proprietary trading activity is conducted in accordance with CME Group’s Fee Policies listed below.
A CBOT corporate member firm may be a CBOT Rule 106.J. Equity Member Firm (requires membership and shares) or a CBOT Rule 106.H. Trading Member Firm (requires a membership).
Hedge funds and commodity pools may be CBOT Rule 106.S. Family of Funds Equity Member Firms (requires membership and shares) or CBOT Rule 106.S. Family of Funds Trading Member Firms (required membership).
Eligibility and Requirements
CBOT Rule 106.J. Equity Membership
- Financial institutions, futures commission merchants, foreign brokers, broker-dealers, commodity trading advisors, introducing brokers, commercial entities, proprietary trading firms, market makers, cash grain firms and other firms which have a business purpose deemed appropriate by CBOT are eligible for CBOT Rule 106.J. equity member firm status. Hedge funds and commodity pools are not eligible for CBOT Rule 106.J. equity membership.
- The member firm is required to own or have assigned to it either a B-1/Full membership and 8,000 shares of CME Group or a B-2/Associate membership and 1,750 shares of CME Group. If the member firm is also a CME clearing or corporate equity member or a NYMEX clearing or corporate member, it must own or assign 12,000 shares. If the member firm is also a CME clearing or corporate equity member and NYMEX clearing or corporate member, it must own or assign 16,000 shares. The member firm is eligible for preferential Exchange rates on products within the division of membership owned or assigned. The membership and shares may be owned by the member firm or owned by a member firm affiliate, a principal or employee of the member firm or a parent company of the member firm with an acceptable proprietary interest in the member firm and assigned for the member firm’s privileges.
- The membership may be held by the member firm or a principal or employee of the member firm. The principal or employee must be approved for CBOT individual membership.
- The member firm is eligible for preferential Exchange fee rates for its proprietary trading of products (open auction and electronic) within the division of membership owned or assigned when such trading activity is conducted in accordance with CME Group Fee Policies. The trading activity of parent companies, affiliates, subsidiaries or customers of the member firm are not eligible for preferential Exchange fee rates. The trading activity of parent companies, affiliates and subsidiaries of the member firm may be eligible for preferential Exchange fee and performance bond rates as CBOT Rule 106.I. affiliate member firms.
- CBOT Rule 106.I. affiliate corporate membership may be obtained by an affiliate of CBOT Rule 106.J. equity member firm. The affiliate may qualify as either a CBOT Rule 106.I. affiliate equity member firm (requires an additional membership and shares) or as a CBOT Rule 106.I. affiliate trading member firm (requires an additional membership).
- The CBOT Rule 106.J. equity member firm may also qualify an unlimited number of affiliates if it qualifies as a CBOT membership umbrella firm. A CBOT Rule 106.J. equity member firm may qualify as a CBOT membership umbrella firm if it owns 4 B-1/Full memberships, 2 B-2/Associate memberships and 8,000 shares of CME Group. This includes the memberships and shares required for the member firm’s equity member firm privileges.
CBOT Rule 106.H. Trading Membership
- Financial institutions, futures commission merchants, foreign brokers, broker-dealers, commodity trading advisors, introducing brokers, commercial entities, proprietary trading firms, market makers, cash grain firms and other firms which have a business purpose deemed appropriate by CBOT are eligible for CBOT Rule 106.H. trading member firm status. Hedge funds and commodity pools are not eligible for CBOT Rule 106.H. trading membership.
- The member firm is required to own or have assigned to it either a B-1/Full, B-2/Associate, B-4/IDEM or B-5/COM membership. Shares of CME Group are not required. The member firm is eligible for preferential Exchange rates on products within the division of membership owned or assigned. The membership may be owned by the member firm or owned by a member firm affiliate, or a principal or employee of the member firm and assigned for the member firm’s privileges.
- The membership owned or assigned may be held by the member firm or a principal or employee of the member firm. The principal or employee must be approved for CBOT individual membership.
- The member firm is eligible for preferential Exchange fee rates for its proprietary trading of products (open auction and electronic) within the division of membership owned or assigned when such trading activity is conducted in accordance with CME Group Fee Policies. The trading activity of parent companies, affiliates, subsidiaries or customers of the member firm are not eligible for preferential Exchange fee rates. However, the trading activity of a parent company, affiliate or subsidiary of the member firm may be eligible for preferential Exchange fee and performance bond rates as CBOT Rule 106.I. affiliate trading member firm (requires an additional membership).
CBOT Rule 106.S. Family of Funds Equity Member Firm
- Hedge Funds, commodity pools or fund management companies are eligible for CBOT Rule 106.S. family of funds equity member firm status. The member firm may qualify up to 6 hedge funds or commodity pools for preferential Exchange fee rates where the member firm exercises trading control over, is under common trading control with or wholly owns such entities. Managed accounts are not eligible for preferential Exchange fee rates.
- The member firm is required to own or have assigned to it four B-1/Full memberships, two B-2/Associate memberships and 8,000 shares of CME Group. If the member firm is also a CME clearing or corporate equity member or a NYMEX clearing or corporate member, it must own or assign 12,000 shares. If the member firm is also a CME clearing or corporate equity member and NYMEX clearing or corporate member, it must own or assign 16,000 shares. The memberships and shares may be owned by the member firm or owned by a qualified fund, or a principal or employee of the member firm and assigned for the member firm’s privileges.
- The membership may be held by the member firm or a principal or employee of the member firm. The principal or employee must be approved for CBOT Individual Membership.
- The member firm and its qualified funds are eligible for preferential Exchange fee rates for their proprietary trading of CBOT products (open auction and electronic) when such trading activity is conducted in accordance with CME Group Fee Policies. The trading activity of the investment manager, investors, parent companies, affiliates, subsidiaries or customers are not eligible for preferential Exchange fee rates.
CBOT Rule 106.S. Family of Funds Trading Member Firm
- Hedge Funds, commodity pools or fund management companies are eligible for CBOT Rule 106.S. family of funds equity member firm status. The member firm may qualify up to 3 hedge funds or commodity pools for preferential Exchange fee rates where the member firm exercises trading control over, is under common trading control with or wholly owns such entities. Managed accounts are not eligible for preferential Exchange fee rates.
- The member firm is required to own or have assigned to it two B-1/Full memberships and one B-2/Associate membership. Shares of CME Group are not required. The memberships may be owned by the member firm or owned by a qualified fund, or a principal or employee of the member firm and assigned for the member firm’s privileges.
- The membership may be held by the member firm or a principal or employee of the member firm. The principal or employee must be approved for CBOT Individual Membership.
- The member firm and its qualified funds are eligible for preferential Exchange fee rates for their proprietary trading of CBOT products (open auction and electronic) when such trading activity is conducted in accordance with CME Group Fee Policies listed below. The trading activity of the investment manager, investors, parent companies, affiliates, subsidiaries or customers are not eligible for preferential Exchange fee rates.
For more information:
- CME Group’s Fee Policy Bulletin for Member Firm Accounts
- CBOT Fee Schedule
- CME Group’s Fee Policy Bulletin for Member Firm Accounts
- CBOT Membership Prices
* All Lease and Purchase prices fluctuate daily.
Forms for CBOT Corporate Membership
- Application for Corporate Membership – Corporate Information
- Agreement for CBOT Rule 106.J. Equity Member Firm Membership
- Agreement for CBOT Rule 106.H. Trading Member Firm Membership
- Agreement for CBOT Rule 106.I. Affiliate (Equity and Trading) Member Firm Membership
- CBOT Rule 106.I. Affiliate Umbrella Membership – Application for Qualified Affiliate
- Corporate Membership Application – Hedge Fund – Corporate Information
- Agreement for CBOT Rule 106.S. Family of Funds Equity Corporate Membership – Hedge Fund
- Agreement for CBOT Rule 106.S. Family of Funds Trading Corporate Membership – Hedge Fund
CBOT Electronic Corporate Memberships
CBOT electronic corporate membership allows member firms to receive preferential Exchange fee and performance bond rates on its electronic trading of eligible CBOT products when such proprietary trading activity is conducted in accordance with CME Group’s Fee Policies listed below.
Eligibility and Requirements
CBOT Rule 106.R. Electronic Trading Membership
- Financial institutions, futures commission merchants, foreign brokers, broker-dealers, commodity trading advisors, introducing brokers, commercial entities, proprietary trading firms, market makers, cash grain firms and other firms which have a business purpose deemed appropriate by CBOT are eligible for CBOT Rule 106.R. electronic trading member firm status. Hedge funds and commodity pools are not eligible for CBOT Rule 106.R. trading membership.
- The member firm is required to lease or have assigned to it either a B-1/Full membership or a B-2/Associate membership. Shares of CME Group are not required. The member firm is eligible for preferential Exchange rates on products within the division of membership leased or assigned. The membership may be leased by the member firm or leased by a principal or employee of the member firm and assigned for the member firm’s privileges.
- The membership leased may be held by the member firm or a principal or employee of the member firm. The principal or employee must be approved for CBOT individual membership. However, trading floor access is not conferred upon the holder of the membership.
- The member firm is eligible for preferential Exchange fee rates for its proprietary trading of products (electronic only) within the division of membership leased when such trading activity is conducted in accordance with CME Group Fee Policies listed below. The member firm is not eligible for preferential Exchange fee rates on open auction trades and is not granted access to CBOT’s trading floors. In addition, the trading activity of parent companies, affiliates, subsidiaries or customers of the member firm are not eligible for preferential Exchange fee rates.
For more information:
- CME Group’s Fee Policy Bulletin for Member Firm Accounts
- CME Group’s Fee Policy Bulletin for Member Firm Accounts
- CBOT Fee Schedule
- CBOT Membership Prices
* All Lease and Purchase prices fluctuate daily.
Forms for CBOT Electronic Corporate Membership
There are two different types of NYMEX/COMEX memberships available for our online commodity futures trading clients. Please select the appropriate membership type below.
NYMEX/COMEX Individual Memberships
Individual memberships at NYMEX and COMEX enable the member to trade all NYMEX and COMEX products at member’s rates and to trade directly from the NYMEX trading floor. There is one level of NYMEX individual membership and one level of COMEX individual membership.
Eligibility and Requirements
To be an individual member of NYMEX or COMEX, you must be at an adult and must possess:
- Good moral character
- A good reputation
- Business integrity
- Adequate financial resources to assume the responsibilities and privileges of membership
If you meet these requirements we welcome your application.
Before you begin trading as a member of NYMEX or COMEX, you must:
- Be qualified to trade by a clearing member
- Be registered with the National Futures Association (NFA) as either a floor trader or floor broker before you start trading on the floor
All applicants must satisfy Exchange educational requirements. If you will be accessing the NYMEX trading floor you will be required to attend a new member orientation and pass a Qualifying Examination covering the basics of the commodity industry, and the Rules and Regulations.
You will receive study materials when you submit your application
Forms for NYMEX Individual Membership
Forms for COMEX Individual Membership
NYMEX Corporate (Non-Clearing) Membership
NYMEX corporate (non-clearing) membership allows member firms to receive preferential Exchange fee and performance bond rates on its proprietary trading of NYMEX products when such proprietary trading activity is conducted in accordance with CME Group’s Fee Policies listed below.
Eligibility and Requirements
NYMEX Rule 106.J. Membership
- Hedge Funds, commodity pools, banks, futures commission merchants, foreign brokers, broker-dealers, commodity trading advisors, introducing brokers, commercial entities, proprietary trading firms and other corporate entities are eligible for NYMEX Rule 106.J. member firm status.
- The member firm is required to own or have conferred/assigned to it two NYMEX memberships and 8,000 shares of CME Group. If the member firm is also a CME clearing or corporate equity member or a CBOT clearing or Rule 106.J./106.S. equity member, it must own or confer/assign 12,000 shares. If the member firm is also a CME clearing or corporate equity member and CBOT clearing or Rule 106.J./106.S. equity member, it must own or confer/assign 16,000 shares. The membership and shares may be owned by the member firm or owned by one or two principals or employees of the member firm or persons, including a parent company, with an acceptable proprietary interest in the member firm and assigned for the member firm’s privileges
- The membership may be held by the member firm or a principal or employee of the member firm or person with an acceptable proprietary interest in the member firm. The principal, employee or person with an acceptable proprietary interest must be approved for NYMEX individual membership.
- The member firm is eligible for preferential Exchange fee rates for its proprietary trading of products (open auction and electronic) on NYMEX products when such trading activity is conducted in accordance with CME Group Fee Policies listed below. The trading activity of parent companies, affiliates, subsidiaries or customers of the member firm are not eligible for preferential Exchange fee rates.
For more information:
Forms for NYMEX Corporate Membership
COMEX Corporate Membership
COMEX corporate (non-clearing) membership allows member firms to receive preferential Exchange fee and performance bond rates on its proprietary trading of eligible COMEX products when such proprietary trading activity is conducted in accordance with CME Group’s Fee Policies listed below.
Eligibility and Requirements
COMEX Rule 106.J. Membership
- Hedge Funds, commodity pools, banks, futures commission merchants, foreign brokers, broker-dealers, commodity trading advisors, introducing brokers, commercial entities, proprietary trading firms and other corporate entities are eligible for COMEX Rule 106.J. member firm status.
- The member firm is required to own or have conferred/assigned to it two COMEX memberships. Shares of CME Group are not required. The member firm is eligible for preferential Exchange rates on products within the division of membership owned or conferred/assigned. The membership and shares may be owned by the member firm or owned by one or two principals or employees of the member firm or persons, including a parent company, with an acceptable proprietary interest in the member firm and conferred/assigned for the member firm’s privileges.
- The membership may be held by the member firm, a principal or employee of the member firm or person with an acceptable proprietary interest in the member firm. The principal, employee or person with an acceptable proprietary interest must be approved for COMEX individual membership.
- The member firm is eligible for preferential Exchange fee rates for its proprietary trading of products (open auction and electronic) within the division of memberships owned or assigned when such trading activity is conducted in accordance with CME Group Fee Policies listed below. The trading activity of parent companies, affiliates, subsidiaries or customers of the member firm are not eligible for preferential Exchange fee rates.
For more information:
Forms for COMEX Corporate Membership
Exchange Membership Application Process
Exchange Memberships enable you to trade specific products at reduced rates and lower fees, and to trade directly from the trading floor. Exchange Memberships can be bought, sold and leased. You can apply for and hold a membership at CME, CBOT or NYMEX, or all three exchanges – depending on the products you intend to trade. Rights and privileges of membership are exchange-specific. Please select the exchange below for details regarding the application process.
CME Individual Membership
Each of the three types of individual CME memberships involve the same membership process.
To apply for CME membership you must submit:
- A typewritten application for membership, which includes:
- Answers to questions on education, employment, residential and disciplinary history; and
- Completion of a financial statement of assets, liabilities and net worth;
- A $2,000 non-refundable fee made payable to CME Group;
- Two 2” x 2” passport-quality color photographs; and
- A certified birth certificate or passport
During the application process, we:
- List the name of each applicant in our Weekly Special Executive Report
- Post your photo on the CME Group trading floor
If we approve your membership application, you have 30 days to acquire a membership.
You can acquire a membership via:
- Purchase
- Gift
- Lease
- Family transfer
- Firm transfer
Primary Clearing Member Authorizations
If you plan to execute trades on the Exchange Floor or on the CME Globex electronic trading system, you must designate a primary clearing member that will accept and clear the trades.
NFA Floor Broker/Trader Registration/Authorization of Error Accounts
You must file with the National Futures Association (NFA) either as a Floor Trader or Floor Broker if you intend to access the trading floor. If you will use your membership for the purpose of filling orders for other members or customers you must apply to the NFA for a floor broker’s license.
Purchase or Lease of a Membership
Following the approval of a membership application, you have 30 days to procure a membership privilege.
You may submit a bid to purchase a membership at any time, i.e., before you submit your application for membership, while your application is being processed or after your application is approved.
You may also submit a lease agreement or transfer forms once you are approved for membership.
You may lease a membership by paying a monthly ‘rent’ to an owner of any division of membership.
CME Corporate Membership
The Application for Corporate Membership – Corporate Information, the Agreement for CME Rule 106.H. Corporate Membership and all required documents, should be submitted to CME Group’s Audit Department. The Audit Department is responsible for the review and approval of all corporate member firm applicants. The application process takes approximately four to six weeks from the time all required documents are submitted.
If the member firm elects to have individuals placed on membership which are owned or leased by the member firm, those individuals must apply for individual CME membership status unless they are current members of CME. Refer to the individual membership application process.
CME Electronic Corporate Membership
The Corporate Membership Application – Corporate Information, the Agreement for CME Rule 106.R. Electronic Corporate Membership and all required documents, should be submitted to CME Group’s Audit Department. The Audit Department is responsible for the review and approval of all corporate member firm applicants. The application process takes approximately four to six weeks from the time all required documents are submitted.
CBOT Individual Membership
Each of the three types of individual CBOT memberships involve the same membership process.
To apply for CBOT membership you must submit:
- A typewritten application for membership, which includes
- Answers to questions on education, employment, residential and disciplinary history; and
- Completion of a financial statement of assets, liabilities and net worth;
- A $2,000 non-refundable fee made payable to CME Group;
- Two 2″ x 2″ passport-quality color photographs; and
- A certified birth certificate or passport
During the application process, we:
- List the name of each applicant in our Weekly Special Executive Report
- Post your photo on the CME Group trading floor
If we approve your membership application, you have 30 days to acquire a membership.
You can acquire a membership via:
- Purchase
- Gift
- Lease
- Family
- Firm transfer
Primary Clearing Member Authorizations
If you plan to execute trades on the Exchange Floor or on the CME Globex electronic trading system, you must designate a primary clearing member that will accept and clear the trades.
NFA Floor Broker/Trader Registration/Authorization of Error Accounts
You must file with the National Futures Association (NFA) either as a Floor Trader or Floor Broker if you intend to access the trading floor. If you will use your membership for the purpose of filling orders for other members or customers you must apply to the NFA for a floor broker’s license.
Purchase or Lease of a Membership
Following the approval of a membership application, you have 30 days to procure a membership privilege.
You may submit a bid to purchase a membership at any time, i.e., before you submit your application for membership, while your application is being processed or after your application is approved.
You may also submit a lease agreement or transfer forms once you are approved for membership.
You may lease a membership by paying a monthly ‘rent’ to an owner of any division of membership.
CBOT Corporate Membership
For non-Hedge Fund applicants, the Application for Corporate Membership – Corporate Information, the appropriate Agreement for CBOT corporate membership should be completed For Hedge Fund applicants, the Application for Corporate Membership – Hedge Fund – Corporate Information and the appropriate Agreement for CBOT Rule 106.S. Family of Funds membership should be completed. The Applications and all required documents should be submitted to CME Group’s Audit Department.
The Audit Department is responsible for the review and approval of all corporate member firm applicants. The application process takes approximately four to six weeks from the time all required documents are submitted.
If the member firm elects to have individuals placed on memberships which are owned or assigned to member firm, those individuals must apply for individual CBOT membership status unless they are current members of CBOT. Refer to the individual membership application process.
CBOT Electronic Corporate Membership
The Application for Corporate Membership – Corporate Information, the Agreement for CBOT Rule 106.R. Electronic Corporate Membership and all required documents, should be submitted to CME Group’s Audit Department. The Audit Department is responsible for the review and approval of all corporate member firm applicants. The application process takes approximately four to six weeks from the time all required documents are submitted.
If the member firm elects to have individuals placed on memberships which are leased by the member firm, those individuals must apply for individual CBOT membership status unless they are current members of CBOT. Refer to the individual membership application process.
NYMEX Individual Membership
Process for NYMEX Individual Membership
To apply for NYMEX membership you must submit:
- A typewritten application for membership, which includes
- Answers to questions on education, employment, residential and disciplinary history; and
- Completion of a financial statement of assets, liabilities and net worth;
- A $2,000 non-refundable fee made payable to CME Group;
- Two 2” x 2” passport-quality color photographs; and
- A certified birth certificate or passport
During the application process, we:
- List the name of each applicant in our Weekly Special Executive Report
- Post your photo on the NYMEX trading floor
If we approve your membership application, you have 30 days to acquire a membership.
You can acquire a membership via:
- Purchase
- Gift
- Lease
- Family transfer
- Firm transfer
Primary Clearing Member Authorizations
If you plan to execute trades on the Exchange Floor or on the CME Globex electronic trading system, you must designate a primary clearing member that will accept and clear the trades.
NFA Floor Broker/Trader Registration/Authorization of Error Accounts
You must file with the National Futures Association (NFA) either as a Floor Trader or Floor Broker if you intend to access the trading floor. If you will use your membership for the purpose of filling orders for other members or customers you must apply to the NFA for a floor broker’s license.
Purchase or Lease of a Membership
Following the approval of a membership application, you have 30 days to procure a membership privilege.
You may submit a bid to purchase a membership at any time, i.e., before you submit your application for membership, while your application is being processed or after your application is approved.
You may also submit a lease agreement or transfer forms once you are approved for membership.
You may lease a membership by paying a monthly ‘rent’ to an owner of any division of membership.
COMEX Individual Membership
To be an individual member of COMEX, you must be an adult and possess good moral character, a good reputation and business integrity. In addition, you must have adequate financial resources to assume the responsibilities and privileges of membership.
Please note that an application will not be deemed “filed” unless all required materials are submitted correctly and completely. Therefore, the following is provided to assist you in completing you application.
- Application Fee – Check in the amount of $2000
- Application Form – Must be typewritten with ALL questions answered completely and fully.
- Photos – Two passport size photos
Primary Clearing Member Guarantee – If the applicant intends to execute transactions on the trading floor of the Exchange, this form must be completed by an Exchange Clearing Member Firm.
Process for NYMEX Corporate Membership
The Application for Corporate Membership – Corporate Information, the Agreement for NYMEX Non-Clearing Membership and all required documents, should be submitted to CME Group’s Audit Department. Hedge Fund applicants should complete the Application for Corporate Membership – Hedge Fund –Corporate Membership and the NYMEX Agreement for Non-Clearing Membership – Hedge Fund. The Audit Department is responsible for the review and approval of all corporate member firm applicants. The application process takes approximately four to six weeks from the time all required documents are submitted.
If the member firm elects to have individuals placed on memberships which are owned by and/or assigned to the member firm, these individuals must apply for individual NYMEX membership status unless they are current members of NYMEX. Refer to the individual membership application process.
Process for COMEX Corporate Membership
The Application for Corporate Membership – Corporate Information, the Agreement for COMEX Non-Clearing Membership and all required documents, should be submitted to CME Group’s Audit Department. Hedge Fund applicants should complete the Application for Corporate Membership – Hedge Fund –Corporate Membership and the COMEX Agreement for Non-Clearing Membership – Hedge Fund. The Audit Department is responsible for the review and approval of all corporate member firm applicants. The application process takes approximately four to six weeks from the time all required documents are submitted.
If the member firm elects to have individuals placed on memberships which are owned by and/or assigned to the member firm, these individuals must apply for individual COMEX membership status unless they are current members of COMEX. Refer to the individual membership application process.
