Leasing A Globex Seat. Help?

C

cgjung

We run an active fund executing roughly about 350-500 emini
S&P trades a day. Our cost is through the roof.

We;re looking into a Globex leased seat, which cost about 88cents a round turn + the leased seat cost.
I'm not sure if there is clearing cost involved?

Does anyone have experience in leasing a seat and what the cost
is .

Thanks
 
I was a member of the CME.

You're looking at Rule 106.H,I and J at the CME, I think. I don't think you can lease a seat - I think you'll have to buy one.

CME seats are offered at $500k, IMM at $420k and IOM at $325k

You'll need at least an IOM, but check with the CME first.

Their website is www.cme.com

You can find prices and all the information you'll need there

Cheers
 
IOM leases right now are running $3300-$3500/mo. There's also the issue of applying for membership which involves, inter alia, submitting a (rather detailed) application form, fingerprint card, photographs, financial statement, registering with the NFA, attending an orientation session, and paying a $1750 non-refundable fee. Basically, it's geared toward those who want to trade on the floor.

I'd strongly suggest calling the GLOBEX Services Department at 312-930-2397 to explore your options in this matter.
 
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