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Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,052 since Dec 2013
Thanks Given: 4,394
Thanks Received: 10,209
I got (leased!) my IDEM membership not for it's trading privileges but because it made me an Eligible Contract Participant ("ECP") under the commodity exchange act. Having ECP status enabled me to trade a lot of Over-The-Counter energy products, and trade on ICE and IDEM was (probably still is) the cheapest seat I could get. Since Dodd-Frank though, nearly everything is now a regulated future and as such the ECP designation is no longer valuable.
I now have (lease) the NYMEX seat for the reduced fees. 1000 lots a month and it's paid for.
Other question, after the initial application of $2000 is paid, if you interrupt leasing a seat in order to resume it later, are you charged again a new application fee if you let too much time go (I was talked about a reduced application fee of $1000 for all secondary exchange applications unspaced in time, otherwise $2000 again) or not ?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,052 since Dec 2013
Thanks Given: 4,394
Thanks Received: 10,209
You could always ask your broker. Everything to do with the seats I lease is done through my broker. I have no contact with the exchange* or the people I lease from.
* If you use the seat to get data netting, then that (the data netting) is all done directly with the exchange.
Edit: On second thoughts, I recall paying application fees each time I bought a seat but not when I sell them, so maybe you're only charged on the entry leg.
$1,000 for the first membership within each exchange, and a $300 transfer fee for purchasing each additional seat on the exchange. I don't think you pay anything for selling.
I have several vacant seats lying around by the way, let me know if you are looking for a lease.