Full Clearing FCM

nitro

nitro

If anyone here at ET that reads this and that works for a Full Clearing FCM at the CBOT, I would love for you to please contact me offline (PM me or leave me contact information on this thread) to potentially become a customer.

Also, anyone on ET that trades directly thru a Full Clearing FCM at the CBOT, I would love to ask you a couple of questions on how to get started (requirements, etc) on opening an account directly with a Full Clearing FCM.

nitro
 
Quote from josbarr:

Hi Nitro,

We might be able to assist you. I'm an IB clearing Advantage LLC, GHco, Refco, and RCG. I'm in Chicago. Feel free to PM me or drop an e-mail. jbarry@infinityfutures.com if you have any questions.
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Josbarr,

Thanks for the reply.

Am I right in that an Introducing Broker is not a full clearing FCM? There are lots of Introducing Brokers on ET, e.g., Velocity, FFastTrade, etc.

I believe what I would like is someone from this list to contact me:

http://www.cbot.com/cbot/pub/page1/1,3248,1055+2+16,00.html

Notice that InteractiveBrokers is a Full Clearing FCM, but I already have their information.

nitro
 
Quote from JayS:

PM me here during the weekend or at jstripling@alaron.com during the week. Alaron is a full clearing firm of both the CBOT & CME.

p.s. I sent you a pm first but it said your box was full.

Jay
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Jay,

Thanks for the reply. Will do.

BTW, I cleared up my Inbox if you have a phone #.

nitro
 
I don't understand:

From the FFastTrade (an Introducing Broker) Website:

RemotePro Trading Platform for the MiniDow:

Broker Fee = .50
Exchange Fee = .80
NFA Fee = .02
Per Side/RT = $1.32/2.64

From the Velocity Futures (an FCM) website for the MiniDow:

Contracts per Month = 0-4999
Per Side(USD) = $1.400
Per RT(USD) = $2.80

You are .08 cents per side more expensive per side or .16 per RT. The rest of the website shows similar differences for other products:

http://www.ffasttrade.com/content/commissions/charges.htm
http://www.velocityfutures.com/cbot_commissions.html

I would have expected the the exact opposite, that is, I would expect an FCM to be .08 per side _less_ than an IntroducingBroker?

FWIW, I also really like the way that FFast breaks down the fee so that if I lease or own a seat, I can now do the math myself for the reduced clearing and NFA fees. The one thing that I do like about your website is that you also show breakdowns by volume.

nitro :confused:
 
We have a good breakdown for CME seat leasing, we just don't have one for cBot... our sliding scale as you have seen is below...



Contracts per Month Per Round Trip(USD) Per Side(USD)
0-4999 $2.15
5000-9999 $2.00
10,000-14,999 $1.80
15,000-19,999 $1.60
20,000-50,000 $1.45
50,000+ $1.30 *


Andrew
VelocityFutures.com
 
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