Benefits of Membership

One of the leading benefits of COMEX membership is reduced Clearing, GLOBEX, and Exchange fees. Members who own or lease a membership receive a significant savings over retail customers. If you are an active trader, becoming a member will lower your trading costs. The following chart displays three levels of trading with daily, monthly and annual savings of Clearing, GLOBEX and Exchange fees.

Metals
	Round turn Futures contracts traded per day	Savings in Exchange Clearing & GLOBEX fees	Savings in Exchange Clearing & GLOBEX fees	Savings in Exchange Clearing & GLOBEX fees
		Per Day	Per Month	Per Year
Member Status
Own	50	$100	$2,000	$24,000
Own	100	$200	$4,000	$48,000
Own	150	$300	$6,000	$72,000
Lease	50	$88	$1,750	$21,000
Lease	100	$175	$3,500	$42,000
Lease	150	$263	$5,250	$63,000

To calculate your potential savings as an individual member, take the number of round turn contracts you trade per month and multiply by $2 if you were to purchase a COMEX Membership or multiply by $1.75 if you plan to lease a COMEX Membership.

Other benefits of COMEX membership include a lower Performance Bond requirement than non-members and cross divisional rates on some NYMEX contracts for COMEX owners. Initial Performance Bond requirements for COMEX members are lower than the Initial requirement for non-members. Members Initial and Maintenance performance bond requirements are generally the same amount and are generally equal to the hedge margin rate. Cross divisional rates for COMEX Owners are listed on the NYMEX/COMEX fee schedule.

You can review the COMEX fee schedule at the following the Link: http://www.cmegroup.com/company/clearing-fees/index.html

You can see the current Bid, Offer and Last Sale price and current lease prices for COMEX Memberships at the following Link: http://www.cmegroup.com/company/membership/membership-pricing-nymex.html#pricingType=1

The information in the above chart includes the following assumptions: you become a COMEX member, acquire a membership either by purchase or lease, 20 trading days per month, trading is for COMEX futures only on GLOBEX or in the pit, all purchases or sales are offset the same trading day (i.e. day trades), no volume discounts, market maker programs, fee waiver or other incentive schemes are considered.

Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contract’s value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade.

Globex is a trademark of Chicago Mercantile Exchange Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners.

The information within this site has been compiled by CME Group for general purposes only. CME Group assumes no responsibility for any inaccuracy, errors or omissions. Additionally, all examples in this brochure are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT and NYMEX rules. Current rules should be consulted in all cases concerning contract specifications.

Copyright ®2010 CME Group Inc. All rights reserved

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