President and CEO Bernard W. Dan said, "This latest initiative is one of the many elements of the CBOT's action-oriented approach to providing customers with a superior environment for trading U.S. Treasury derivatives products. Along with the advanced functionality of the CBOT's premier electronic trading platform, an innovative clearing solution that is saving market users more than $1.7 billion, and highly liquid and transparent markets, the exchange is meeting the needs of customers with the most competitive pricing in the world."
These fees will be in place for electronically traded CBOT U.S. Treasury futures and options contracts and newly announced German debt contracts for a minimum of six months, after which time the CBOT Board of Directors will review the reduced fees. The price reductions also will apply to e-cbot® members and market users participating in the CBOT's European permit program. Highlights of the new transaction fees include:
- Exchange transaction fees for members trading for a member-owned account on an individual or firm-owned seat will be waived. (Previously, those users paid $0.10 per side for the first 25,000 contracts traded and $0.05 thereafter.)
- Non-members trading for an individual member's or member-firm's proprietary account will pay a flat exchange transaction fee of $0.06 per side, an average reduction of approximately 75 percent. (Previously, those users paid $0.30 for the first 100,000 contracts traded and $0.20 cents thereafter.)
- Non-members will pay flat exchange transaction fees of $0.30 for futures transactions and $0.50 for options, an average reduction of approximately 65 percent. (Previously, those users paid $0.90 for the first 100,000 contracts traded and $0.75 thereafter.)
