South and Latin America Incentive Programs

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Latin America Commercial Incentive Program (LACIP)
South American Incentive Program (SAIP)
Fund Manager Incentive Program (FMIP)

Latin America Commercial Incentive Program for Commercial Agricultural Hedgers (LACIP)

English | Español | Português

The Latin America Commercial Incentive Program (LACIP) is a program that allows commercial hedgers involved in agriculture, energy and metals in the Latin America region to receive discounted fees for their proprietary trading of CME Group Commodity products. Starting August 1, 2009, program participants will receive discounted fees on CME and CBOT products traded electronically, and from January 1, 2010 also on NYMEX and COMEX. LACIP participants will receive discounted fees through December 31, 2010.

How does a commercial hedger qualify for the program?
To qualify for LACIP, a commercial agricultural hedger must:

Be located in Latin America
Be a commercial firm involved in the physical agriculture, energy or metals commodity markets (defined as a firm whose primary business involves at least one of the following: extracting, growing, processing, refining and/or merchandising of agricultural commodities). Provide information justifying this status, for example any industry association membership, annual report, etc.
Have all traders physically located in Latin America
Complete an LACIP application and be approved by CME Group
Execute all trades in the LACIP participant’s name
Register all participating traders who must be owners, bona fide employees or independent contractors of the LACIP participant
Have a relationship with a CME Group clearing member

For more information, or to apply for the LACIP, please consult the links below.

LACIP Sell Sheet – English (PDF)
LACIP Q&A – English (PDF)
LACIP Agreement for Participation - English (PDF)
Corporate Membership / Incentive Program Participation Application – English (PDF)

South American Incentive Program for Proprietary Trading of CME Group Products (SAIP)

English | Español | Português

The South American Incentive Program (SAIP) allows banks in South America to receive discounted fees for their proprietary trading of CME Group products. Starting May 1, 2009, program participants will receive discounted fees on CME products both in open outcry and electronically, and on electronically traded CBOT and NYMEX products. SAIP participants will receive discounted fees through December 31, 2010, provided that they satisfy minimum quarterly volume requirements.

How does a bank qualify for the program?
To qualify for the SAIP, a bank must:

Be located in South America
Complete a SAIP application and be approved by CME Group
Execute all trades in the SAIP participant’s name
Register all participating traders who must be owners, bona fide employees or independent contractors of the SAIP participant
Have a relationship with a CME Group clearing member

For more information, or to apply for the SAIP, please consult the links below.

South American Incentive Program Sell Sheet (PDF)
South American Incentive Program Q&A (PDF)
South American Incentive Program - Agreement for Participation (PDF)
Corporate Membership / Incentive Program Participation Application (PDF)
(click here for writeable PDF version)

Fund Manager Incentive Program (FMIP)

English | Español | Português

The Fund Manager Incentive Program (FMIP) is a program that allows Fund Management Firms (Fund Managers) in Latin America to receive discounted fees for the trading of certain CME Group products for approved fund accounts which are managed by the fund manager. Starting October 1, 2009, approved fund accounts of program participants will receive discounted fees on CME Group products traded electronically. Approved fund accounts of FMIP participants will receive discounted fees through December 31, 2010.

Be located in Latin America
Complete a FMIP application and be approved by CME Group
Execute all trades in the FMIP participant’s approved fund account
Register all participating traders who must be owners, bona fide employees or independent contractors of the FMIP participant
Have a relationship with a CME Group clearing member

For more information, or to apply for the FMIP, please consult the links below.

FMIP Sell Sheet (PDF)
FMIP Q&A (PDF)
FMIP Agreement for Participation (PDF)
Corporate Membership Application (PDF)