The current Exchange policies regarding clearing fees for GLOBEX transactions became effective April 1, 2001. At this time,
we would like to remind our clearing membership of these policies. Fee Policy:
Members are entitled to preferential clearing fees only on contracts traded within the division of membership held. Member
trades for contracts outside of the division of membership held will be assessed customer clearing fees.
Joint accounts are charged clearing fees based on the lowest membership status of all account owners, regardless of their
percentage of ownership.
Clearing fees for GLOBEX transactions are based on the combined memberships of both the operator and account owner(s). For
example:
- Equity member rates apply to GLOBEX transactions only when an equity member executes an order for his/her own account or the
account of another equity member.
- Lessee member rates apply to GLOBEX transactions when a lessee executes an order for his/her own account, the account of another
lessee, or the account of an equity member.
- Non-member rates apply to GLOBEX transactions when a non-member executes an order on GLOBEX.
Clearing member and Rule 106.I. proprietary accounts receive equity member rates for GLOBEX transactions for products authorized
within the member’s division when the trade is executed by an equity member or a W-2 employee of the entity.
Rule 106.H. proprietary accounts receive 106.H. rates for GLOBEX transactions for products authorized within the member’s
division when the trade is executed by an equity member, a lessee, a W-2 employee of the clearing member or a W-2 employee
of the 106.H. entity.
Orders executed by non-member (ie., W-2) employees of a clearing member for GLOBEX transactions will not affect the clearing
fee charged.
Penalties:
All application programming interface messages must contain identifying information for the workstation operator. Each user
ID must be unique. Non-compliance with these user ID requirements by a member or clearing member, or parties affiliated with
them, may result in charges by the Exchange’s Probable Cause Committee and fines, as determined by the Business Conduct Committee.
Interest of 2% per month compounded monthly may be added on amounts due to CME as a result of an audit assessment for clearing
fees. Interest will be calculated from the original date that the adjusted fees would have been remitted to the Exchange.
Other:
GLOBEX system fees are capped at $50 per day, per e-mini product and per operator ID for trades executed by equity members
and lessees for their own account within their membership division and accounts of clearing members and Rule 106.I. affiliates.
Accounts which are jointly owned by members are capped separately for each member. Trades executed by others for member accounts
will not be entitled to the cap.
GLOBEX trades processed through GUS are charged clearing fees based on the membership status of the account owner only. These
trades are assessed a GUS fee surcharge and will not be eligible for e-mini GLOBEX system fee caps.
For additional information on CME fees, see the . If you have any questions, please call the Audit Department at (312) 930-3230 or e-mail us ataudits@cme.com.
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