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Robert wrote:
>> Anybody know the cost of renting a CME seat for a year.
Sig replied:
>I would imagine the equivalent of the money that can be made in a year.
>Probably a helluva lot. You might check with one of the smaller exchanges,
>their seats are much cheaper.
The thinking =at one time= was that the =purchase= price of
the membership should represent what could be made in one
year. As far as leasing is concerned, I doubt many would
bother leasing a membership if they only expected to make
the equivalent of their lease rate. OTOH, a lot of traders
would agree that if you can just scratch the first year
(i.e. cover your expenses), you're doing fairly well.
Many of the smaller exchanges don't permit leasing of
memberships. This is the case with the MidAm where a
membership can be =purchased= for around $3.5k. It's just
not worth bothering with considering the lease rate on such
a membership would be in the $30/mo. range.
A pretty good deal right now for someone who wants to trade
stock index futures (specifically the DJIA contract) and
would like to experience trading on the floor is leasing a
CBOT-IDEM membership. The seats are trading in the $30k
range but one can be leased for around $200/mo.
Best regards,
Jim
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