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.
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. 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.
Links for Additional Information:
Process for 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 CBOT membership application process.