Reduce your futures exchange fees significantly by purchasing or leasing a CME, CBOT, NYMEX, or COMEX membership. Discount Trading guides high-volume traders through the entire process.
An exchange membership enables traders to execute futures trades at preferential (lower) exchange clearing rates. The higher the volume of trading, the greater the savings. High-frequency traders can see substantial reductions in overall costs. Additionally, as an exchange member, traders do not pay any NFA regulatory fees.
Exchange memberships can be purchased, leased, or transferred. CME, CBOT, NYMEX, and COMEX memberships are entirely separate from one another and each provides access to different products at different reduced rates. To trade specific products at discounted rates, you must hold a membership on the exchange where those products trade. Discount Trading will assist you from beginning to end with obtaining the correct membership for your trading needs.
| Product | Non-Member Rate | Member Owner Rate | Member Lessee Rate | Potential Savings |
|---|---|---|---|---|
| E-mini Index Futures | $1.33/side | $0.39/side | $0.51/side | Up to $0.94/side |
| Currency Futures | $1.60/side | $0.34/side | $0.52/side | Up to $1.26/side |
| Financial Futures | $1.25/side | $0.34/side | $0.52/side | Up to $0.91/side |
* Exchange fee examples are approximate and subject to change. Contact Discount Trading for current rates.
The Chicago Mercantile Exchange (CME) offers several categories of individual membership. Each type determines eligibility for trading specific products at reduced exchange clearing rates.
Trades: Any CME Exchange-listed contract — the broadest trading privileges available.
Trades: Foreign exchange, interest rate and equity index futures, and all IOM and GEM products.
Trades: Equity index futures, random length lumber contracts, all options contracts, and all GEM products.
Trades: Various products including contracts related to emerging market countries; restricted financials.
To be an individual member of CME, you must be an adult and possess good reputation, moral character, and business integrity. You must also have adequate financial resources to assume the responsibilities and privileges of membership.
If your application is approved, you have 30 days to acquire a membership via: Purchase, Gift, Lease, Family Transfer, or Firm Transfer.
↓ Download CME Individual Membership ApplicationThe Corporate Membership application and all required documents must be submitted to CME Group's Audit Department, which reviews and approves all corporate member firm applicants. The process takes approximately four to six weeks from the time all required documents are received. Individuals placed on memberships owned or leased by a member firm must also apply for individual CME membership status unless they are current CME members.
↓ Download CME Corporate Membership Application
CBOT memberships determine eligibility for trading certain products at reduced exchange rates and provide access to trading on the CBOT floor. Each membership type is identified by a different colored badge worn on the trading floor.
Trades: All financial and agricultural futures and options contracts.
Trades: All financial futures and options and agricultural options only.
Trades: Financial instrument futures (Government Instruments Market).
Trades: Fed Funds, and index futures (Index, Debt and Energy Market).
Trades: Options contracts only (Commodity Options Market).
To be an individual member of CBOT, you must be an adult with good moral character, a good reputation, and business integrity. You must also have adequate financial resources to assume the responsibilities and privileges of membership.
During the application process, CME Group will list your name in the Weekly Special Executive Report and post your photo on the CBOT trading floor. If approved, you have 30 days to acquire a membership via: Purchase, Gift, Lease, Family Transfer, or Firm Transfer.
↓ Download CBOT Membership Application
Individual memberships at NYMEX and COMEX enable the member to trade all NYMEX and COMEX products at reduced member 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.
To be an individual member of NYMEX or COMEX, you must be an adult with good moral character, a good reputation, business integrity, and adequate financial resources. Before trading as a member you must be qualified to trade by a clearing member and be registered with the NFA as either a floor trader or floor broker. All applicants must satisfy Exchange educational requirements and pass a Qualifying Examination covering the basics of the commodity industry and Exchange Rules and Regulations.
During the application process, CME Group will list your name in the Weekly Special Executive Report and post your photo on the NYMEX trading floor. If approved, you have 30 days to acquire a membership via: Purchase, Gift, Lease, Family Transfer, or Firm Transfer.
Discount Trading has experience helping high-volume futures traders navigate the exchange membership process from start to finish. Whether you're considering purchasing, leasing, or transferring a membership, our specialists can help you determine which membership type is right for you and walk you through each step of the application.
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