CME ClearPort offers a dynamic data model that allows participants several different ways to enter executed OTC deals for our clearing services. The exchange is responsible for setting up firms and permissioning firm and user agent roles. Clearing Members (CM) create accounts and assign Broker and Asset Manager relationships. A single firm can operate more than one business model.
- Clearing Member - Clearing Members set up Trading Accounts for Trading Firms and manage the account risk.
- Trading Firm - A Firm that is the beneficial owner of any one or more Trading Accounts held with a Clearing Member. A Trading Firm can have a relationship with one or more Clearing Members. While other Firm types (Broker Firms, Asset Manager Firms) can have permission within ClearPort to act in the Trading Firm's Trading Account(s), only a Trading Firm can be the owner of a Trading Account. Clearing Members set up Trading Accounts for Trading Firms and manage the account risk.
- Single Side Trading Firm - Trading Firms can enter Single Side Deals for their own Trading Accounts when they are set-up as a Single Side trading firm. Every Single Sided Trading Firm must also be a Trading Firm.
- Broker Firm - Broker Firms can enter Deals under the two-sided Broker model and the Single Sided model. A Broker Firm can be selected as a Broker with respect to a Trading Account by the Clearing Member.
- Asset Manager Firm - Only Asset Manager Firms can be selected (by a Clearing Member) as an Asset Manager with respect to particular Trading Accounts as to which the Clearing Member confirms the Asset Manager Firm has authority to act. Asset Manager Firms can enter Single Sided Deals for those Trading Accounts.