CBOT Lease Question

K

krh7

Just wondering if I can trade the 5 year, 10 year, and 30 year note/bond futures on the screen with a IDEM lease.

I can't tell if I need to pay the $1000+ a month to lease a full seat or if I can get a different type of lease for cheaper. Anybody know?
 
To trade 5/10/30's you need to lease either a GIM or an AM membership. This will enable you to get member fees while trading on the screen.
 
Quote from krh7:

Just wondering if I can trade the 5 year, 10 year, and 30 year note/bond futures on the screen with a IDEM lease.
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No

I can't tell if I need to pay the $1000+ a month to lease a full seat or if I can get a different type of lease for cheaper. Anybody know?
More...
IDEM allows trading YM and the pit DOW and a few other contracts, most of them uninteresting.

nitro
 
Thanks nitro.

How did you figure this out? And why is the associate less than the GIM?

It is good to know that the leases are that low.
 
Quote from Haylavshik:

Thanks nitro.

How did you figure this out? And why is the associate less than the GIM?

It is good to know that the leases are that low.
More...
YW. I called the CBOT a few days ago.

Not sure about the reason for Associate vs GIM price, as I was mostly interested in the IDEM.

nitro
 
Can someone explain the benefits of having a lease. Are commisions reduced and if so by how much.

Thanks,
ozzy
 
The AM membership is 1400 to lease versus the GIM which is 900 (nitro had them flipped around). I couldn't exactly tell you how much is saved, it all depends on how much size you are trading. If you are actively scalping or position trading every day more than a couple trades, it would probably be worth it. Furthermore, you will most likely get commission caps from your clearing firm if you are trading actively as a member.
 
The lease fee may not be the only expense.

In the old days one had to have one's own clerk to match and submit trades.
If one did only a few trades a day it was not worth it.

Is the matching done electronically now?

Please would someone comment on this?
 
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