EXCHANGE MEMBERSHIPS.

Click on one of the exchanges below for more information.

Grain exporting companies, flour and feed mill operators, elevator operators, commodity brokerage houses, and individuals make up the membership of the Kansas City Board of Trade.

KCBOT exchange offers two types of memberships: Class A and Class B. There are192 Class A seats, which allow trading in any KCBT product. More than 20 Class A members are clearing members. Class B seats, of which there are 60, allow trading in stock index products.

Class A members carry one vote in every election; Class B members carry one-quarter vote in the annual election of officers and otherwise may only vote on items for which they are permitted to trade.

Class A membership brings another benefit. Class A members gain one share of ownership in the exchange itself. The adjusted net asset value of one seat recently exceeded $166,254, with the average sale price of $503,038 during 2007. On December 18, 2007, a record-high selling price of $725,000 was set.

Eligibility and Requirements:
To be a member, an individual must be of at least 18 years old, of good character and meet exchange net worth and working capital requirements, and be approved by the Board of Directors. All members must establish a business relationship with a clearing member, a higher level of membership subject to additional financial requirements and greater financial responsibility.

Process for COMEX Corporate Membership:
Applicants must complete the exchange's orientation program before gaining access to the trading floor. The orientation class, presented by the exchange's regulatory division, focuses on trading rules and practices, and includes a mock trading session.

To become a member, an individual must purchase either a class "A" or class "B" seat and have net worth of $25,000. By purchasing either membership, an individual gains access to the trading floor and all its amenities. These include quote services, instant news and weather information, and computer-generated trading vehicles of all kinds. Membership also makes trading more affordable, as members are exempt from exchange fees on their trades.

A Class A membership is an equity membership, which allows trading in any KCBT product. Class A members gain one share of ownership in the exchange itself and have a full vote in every election; therefore, they have more say in the direction of the exchange. There are 192 Class A seats.

A Class B membership allows its owner to trade Value Line® stock index futures and options. Class B members may only vote in elections pertaining to Value Line. In the annual election of officers, the vote from a Class B member counts as one-quarter of a vote. There are 60 Class B memberships.

Both membership types are available for lease by meeting the same requirements as purchasers. A membership may be leased for a minimum of three months. Individuals who lease may trade for their own accounts and/or serve as brokers, but may not represent a firm or partnership. 

Links for Additional Information:

Click here for Leasing Information

Pricing:

Click here for KCBOT Membership Pricing

Click here for KCBOT Pricing History