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CME Group, the world's largest and most diverse derivatives exchange, today announced modifications to its trading fee schedule effective in the third quarter of 2009. Continuing with CME Group's practice of providing incentives to liquidity providers, the new schedule will enhance volume-based incentive programs to further reward high-volume traders. In addition, the changes will further standardize legacy CME and CBOT fee schedules, in order to facilitate back-office fee reconciliation processes for customers and trading firms.
A summary of the fee changes for each product group follows:
- Equity Products: CME Group will replace the current E-mini fee structure with a volume based incentive program, effective September 1. This program will provide lower volume thresholds for individual traders in relation to member firms and will offer incentives for volume across E-mini index products, excluding the E-mini Dow product.
- Interest Rate Products: CME Group will expand its volume based incentive program such that market participants trading multiple interest rate products will be able to qualify for incentives based on their aggregate trading volume, effective August 1. Fee enhancements will be modified and extended to Treasury and other CBOT financial products to provide additional volume discount opportunities. The current structure for legacy CME Interest Rate Products, such as Eurodollars, will remain the same.
- FX Products: CME Group will modify volume thresholds for FX product volume incentives effective August 1. The volume discount program provides a monthly average daily volume discount across all FX future products by the underlying account owner. In addition, effective July 1, the EFP/block surcharge will be reduced for both FX futures and options.
- Commodity Products: CME Group will standardize exchange fees for all equity member firms and individuals for all venues, effective August 1. The fee changes in agricultural commodities are limited and designed to increase consistency across CME and CBOT products. Electronic trading incentives also will be expanded for CME livestock products effective October 1.
In addition to these individual product fee modifications, CME and CBOT floor brokerage fees will be standardized to the same base rate for all product groups, effective August 1.
The fee changes listed above do not affect NYMEX and COMEX products.
For additional information about the fee changes, please visit http://www.cmegroup.com/company/clearing-fees/.
CME Group (www.cmegroup.com) is the world's largest and most diverse derivatives exchange. Building on the heritage of CME, CBOT and NYMEX, CME Group serves the risk management needs of customers around the globe. As an international marketplace, CME Group brings buyers and sellers together on the CME Globex electronic trading platform and on trading floors in Chicago and New York. By acting as the buyer to every seller and the seller to every buyer, CME Clearing virtually eliminates counterparty credit risk. CME Clearing also offers financial safeguards to help mitigate systemic risk, providing the security and confidence market participants need to operate, invest and grow. CME Group offers the widest range of benchmark products available across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, and alternative investment products such as weather and real estate. CME Group is listed on NASDAQ under the symbol "CME."
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group and its products can be found at www.cmegroup.com.
