lower trading fee structure and lower margin requirements than other competing metals exchanges.
NON-MEMBER CUSTOMER Fee Structure
100 oz. Gold & 5,000 oz. Silver (per side)
|
CBOT® 100% Electronic
|
Other Exchange
|
|
|
Exchange & Clearing Fees
|
$1.05
|
$1.35
|
|
Pit Brokerage
|
None
|
$1.00*
|
|
Total
|
$1.05
|
$2.35*
|
* Approximate rate
Additionally, all Gold and Silver EFP transaction fees at the CBOT have been waived through December 31, 2004.
Customers trading CBOT 100 oz. Gold and 5,000 oz. Silver futures also benefit from
lower margin requirements. Lower margin equates to a lower cash outlay for trading
CBOT 100% Electronic Gold and Silver futures.
|
Margin*
|
CBOT 100% Electronic
|
Other Exchange
|
| Gold Initial |
$1,215
|
$2,025
|
| Gold Maintenance/Hedge |
$900
|
$1,500
|
|
|
|
|
| Silver Initial |
$2,025
|
$2,700
|
| Silver Maintenance/Hedge |
$1,500
|
$2,000
|
*as of October 21, 2004
Customers who trade the CBOT full-sized Gold versus CBOT mini-sized Gold spread or the CBOT full-sized Silver versus CBOT mini-sized Silver spread are eligible for a 100% spread credit. For a list of the CBOT margin requirements and the related eligible spread credits, visit the Clearing/Margin section of www.cbot.com/clearing/margins.
These tremendous competitive advantages combined with the benefits of a 100% electronic trading platform, market transparency, 21-hour trading day, and straight-through clearing and processing, allows the Chicago Board of Trade Metals Complex to Shine Above the Rest!
