E-mini(TM) S&P 500 $2.18 round turn

[tolga]

hi,
does anybody use GLOBEX trader-internet to trade e-minis?

i currently pay $4.80 for round turn and CME website tells me they charge $2.18 for round turn if i become a member. they charge $400 /month membership fee. just 7 contracts/day and i pay this much less. 7+ contracts/day i save money on my comissions.

what is the catch here? why doesn't every active trader go for this membership?

help me out here. i must be missing something.

thanks
tolga

[michaelm]

Good question, tolga.

I'd imagine it's a good deal, provided there are some safeguards. I would imagine that CME provides the trading platform per montly fee. I don't know that they provide data per that fee, though.
More importantly, i don't know that they provide trade support via phone. Meaning, if anything goes wrong with your service connection and you cannot execute trades, what backups are provided via said membership?

[michaelm]

ps - the 2.18 looks like 2.28 on their website, and does not include fees.

[fabrizio]

Gentlemen

To put it in a very simplistic manner first step is that you ought to be memeber of the exchange.

It means that you have to be presented by a member and pass some examinations and furthermore be member of NFA.
In both cases you pay X lump sums

After taht comes the lease ......but this is a nmore articulated story.

You all can understand it by going at CME (or any Exchange site)site and look for "memberships"

[michaelm]

fabrizio,

It means that you have to be presented by a member and pass some examinations and furthermore be member of NFA.

I believe Tolga is referring to CME's Globex Trader-Internet offer -
CME Globex Trader

[fabrizio]

Ok

Roger there

BTW guarantees from clearing and Net worth declaration is still needed.