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South and Latin America Incentive Programs

Latin America Commercial Incentive Program (LACIP)
Latin America¬ Bank Incentive Program (LABIP)
Fund Manager Incentive Program (FMIP)

 Latin America Incentive Program for Commercial Hedgers (LACIP)

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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 executed electronically.

How does a commercial hedger qualify for the program?
To qualify for LACIP, a commercial 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 Q&A – English (PDF)
LACIP Agreement for Participation - English (PDF)
Corporate Membership / Incentive Program Participation Application – English (PDF)

 Latin America Bank Incentive Program (LABIP)

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The Latin America Bank Incentive Program (LABIP) allows banks in Latin America to receive discounted fees for their proprietary trading of CME Group products. Program participants receive discounted fees on CME, CBOT, NYMEX and COMEX products (for COMEX, futures only) traded electronically, provided that they satisfy minimum quarterly volume requirements.

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

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


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

Latin American Bank Incentive Program Q&A (PDF)
Latin American Bank Incentive Program - Agreement for Participation (PDF)
Corporate Membership / Incentive Program Participation Application (PDF)
(Select 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.

How does a Fund Manager qualify for the program?
To qualify for FMIP, a Fund Manager must:

  • Be located in Latin America.
  • Have assets under management of at least US$100 million.
  • Complete a FMIP application and be approved by CME GroupTrade the account of a hedge fund, commodity pool or other collective investment vehicle. Individual managed accounts do not qualify for the program.
  • 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 Q&A (PDF)
FMIP Agreement for Participation (PDF)
Corporate Membership Application (PDF)

 
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