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Proprietary Trading: A Guide for Getting Started
 

Thank you for your interest in trading at CME Group.

This is a step-by-step guide to help you begin trading.
Once you begin the process, you will be assigned to a Global Account Management (GAM) representative based on your Class A Clearing Firm and your location.

 

Step 1: Contact a Client Development & Sales (CD&S) representative

The Proprietary Trading Firm CD&S team serves as the main point of contact for your CME Group business across all product lines. Dedicated solely to Proprietary Trading Firms, this team is tasked with understanding your CME Group business and helping you optimize your relationship with us. The team also partners with you to identify new opportunities to help you facilitate the growth of your business.

North America
Angie DiCarlo
+1 312 930 4515
angie.dicarlo@cmegroup.com

Michael Hohman
+1 312 930 1773
michael.hohman@cmegroup.com

Troy Kane
+1 312 930 1330
troy.kane@cmegroup.com

Brett Vietmeier
+1 312 930 3394
brett.vietmeier@cmegroup.com		 Asia
Darren Anthony
+65 6593 5567
darren.anthony@cmegroup.com

EMEA
Matthew Judge
+44 20 3379 3730
matthew.judge@cmegroup.com

Richard Stoker
+44 20 3379 3733
richard.stoker@cmegroup.com
 
View all customer contacts

Step 2: Connecting to CME Globex

2.1 Choose a Clearing Firm
To access CME Globex, customers must have a CME Clearing Firm relationship and a CME Group-certified trading application. To find a CME Clearing Firm, visit www.cmegroup.com/findabroker.

2.2 Choose Connectivity Option
The CME Globex platform was the first- and remains among the fastest-global electronic trading systems for futures and options. Through its advanced functionality, high reliability and global connectivity, it is now the world's premier marketplace for derivatives.

CME Co-Location Connectivity Services:
The new CME Group data center facility that houses the CME Group trading match engines for all products traded on the CME Globex platform provides the lowest latency connection for our customers.

Co-Location Services:
  • CME GLink - A client-managed offering that provides the lowest latency connectivity option to trade CME Group products on CME Globex. Available only at the CME Group co-location facility. CME GLink service utilizes an equidistant Cross Connect to ensure location neutrality in the Co-Location facility.
  • CME Co-Location Services offers 1 Gbps and 10 Gbps with inbound rate limited to 1 Gbps.
For additional information on CME Co-Location Services, please visit www.cmegroup.com/colo.

For a complete listing of connectivity options, please visit www.cmegroup.com/tradingapplications

Additional Resources
2.3 Connection Agreements
To connect directly to CME Globex, customers must complete the CME Customer Connection Agreement and relevant schedules at www.cmegroup.com/connectionagreement.

2.4 Choose a Front End
If you are using your own front end application, continue to step 2.4. If not, Certified Independent Software Vendors (ISVs) can be found at www.cmegroup.com/isv.

2.5 Develop a Proprietary System
If you want to develop to CME Globex for order entry and/or market data, certification is required. The Software Development Kits (SDK) for iLink order entry and FIX/FAST Market Data Platform can be found at www.cmegroup.com/globexsdk.

Developers must use the certification tool AutoCert+. For more information, see www.cmegroup.com/tools-information/webhelp/autocert-access/Default.html.
  • iLink order entry certification requires the AutoCert+ tools
  • FIX/FAST on the Market Data Platform certification requires AutoCert+ only
Note: You must have access to both the Certification and New Release environments in order to use the AutoCert+ certification tool.

For additional information on test environments please visit www.cmegroup.com/cert/.
More information is available by contacting Global Account Management at +1 312 634 8700 or +44 20 3379 3754 or +65 6593 5505 or at globalaccountmanagement@cmegroup.com.

Step 3: Determine Which Products You Will Trade

The type of membership/incentive program that you sign up for is determined by the products you want to trade. CME, CBOT and NYMEX/COMEX are entirely separate from one another and offer access to different products at different rates. These differences reflect the individual histories of each of the exchanges before they became part of CME Group.

For a complete listing of products by exchange, please consult the links below.

Step 4: Select Membership or Incentive Programs

4.1 Select Membership
Proprietary Trading Firm Membership holders trade products on CME Group exchanges (CME|CBOT|NYMEX|COMEX) at reduced rates compared to non-member customers. Which memberships are right for you depends on the products you trade and additional discounts for which you may qualify.

Membership levels available:
  • Trading Member (CME, CBOT)
  • Corporate Equity Member (CME, CBOT, NYMEX)
  • Electronic Corporate Memberships (ECMs) (CME, CBOT)
  • Clearing Member (CME, CBOT, NYMEX)
CME, CBOT, NYMEX and COMEX membership types, fees and requirements vary, as do terms for purchasing and leasing memberships.

Find the best membership for you
For additional details on memberships, please visit www.cmegroup.com/membership or contact Debbie Kokal at 312 930 3235

For a summary of applicable membership types/fees, click here.

4.2 Select Incentive Programs
You may also qualify for significant fee incentive programs designed to offer proprietary trading firms significant cost greater access to CME, CBOT and NYMEX products.
  • Electronic Corporate Member Incentive Program
    • ECM-H (Holding Member Incentive Program) – electronic corporate member holding the required memberships in the divisions in which they wish to receive discounted rates
    • ECM-W (Volume Incentive Program) – does not have required memberships under volume incentive program membership waiver; participant must trade an average of at least 50 sides per day (measured on quarterly basis)
  • International Incentive Program (IIP) — Discounted fees for all CME, CBOT, NYMEX and COMEX products available on CME Globex for proprietary trading firms and trading arcades located outside of North America
  • New Traders Incentive Program (NTIP) — Fee waivers for all CME, CBOT, NYMEX and COMEX products available on CME Globex for new traders associated with proprietary trading firms and trading arcades located outside of the United States or Canada.
  • Volume discount tiered pricing — Equity members of the exchange will see reduced fees for trading volumes exceeding designated monthly average daily volume thresholds. Restrictions may apply.
For more information, or to apply for the incentive programs, please consult the links below.

Step 5: Request Session ID(s) via FCM

Your Class A Clearing Firm will request production iLink session ID(s) through your Global Account Manager for every new site, front-end system or server. Additional details are available in the iLink Session ID Guidelines (PDF).

Global Account Management
United States: +1 312 634 8700
Europe: +44 20 3379 3754
Asia: +65 6593 5505
globalaccountmanagement@cmegroup.com
 
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  • CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of five Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX, COMEX and KCBT.