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Category Archives: Blog

Individual Exchange Membership

 

Individual Exchange Membership

 

One of the biggest costs to high volume and frequency traders is the per contract clearing fee that is charged by the exchange. Many of these traders are unaware that they can receive reduced clearing fees by becoming an exchange member, or leasing a seat at the CME. Exchange memberships enable customers to trade specific contracts at significantly lower clearing rates. High volume traders can benefit greatly, as the clearing rate lowers with each volume threshold.

 

The application and approval process can be daunting to even the most sophisticated trader.  Because of this, Ironbeam offers clients its full assistance throughout the entire membership onboarding process.

Ironbeam can:

 

-Help you decide which type of membership would be the most accompanying to your trading objectives.

-Provide you with the correct application forms you will need, and make sure that you provide all of the necessary information to the exchange.

-Assist in the bid and offer process (if purchasing), and negotiate lease terms and agreements (if leasing).

-Give you all-encompassing, ongoing support throughout the life of your exchange membership.

 

Individual CME Membership Process

 

Once you have decided that a CME Individual Membership is right for you, it will be time to apply for membership.  There are four levels of individual CME membership, and each involves the same application process. Your dedicated membership specialist at Ironbeam will walk you through every step of the way.

 

You can direct inquires for exchange membership to sales@ironbeam.com, and one of our specialists will reach out within one business day.

U.S. Home Sales Lowest Since 2015

U.S. Existing-Home Sales fell in September to the slowest pace in almost three years, possibly signaling that rising prices and mortgage costs are turning away potential buyers. The data was released by the National Association of Realtors.

 

Key Takeaways

-The median sales price rose 4.2% YoY to $258,100

-The inventory of available properties rose 1.1% YoY to 1.88m

-Contract closings fell from the previous period to an annual rate of 5.15m, the lowest level since November of 2015.

Yield-fueled Drop Continues

U.S. stocks continued trading lower Monday, as traders keep their eyes on rapidly rising interest rates, and corporate earnings from some of the biggest banks and financial institutions this week. Higher yields means steeper borrowing costs for companies and investors alike, and has cause for reassessing equity valuations, which were already seeming lofty to many investors as-is. Better rates for ‘risk-free’ bonds has the potential to compete against equities, which are much riskier by comparison. However, rising rates do come against a backdrop of an improving domestic economy, with the U.S. unemployment rate reaching its lowest level since 1969 among a number of other metrics in the previous weeks that have strengthened the notion that the U.S. economic recovery and expansion has continued.

Stocks Drop as Bond Yields Jump

U.S. stocks are trading lower Thursday as bond yields rise. The yield on the 10-year U.S. Treasury note rose 4.4 basis points to 3.20%, touching its highest level since 2011. This also comes just a day after its biggest one-session increase since November of 2016. Traders may be dumping bonds after economic reports indicate continued strength in the U.S. economy. Higher yields have the potential to dampen enthusiasm for stocks, as it can offer reliable income without the risk or volatility that commonly comes with equities. Initial jobless claims fell by 8,000 in the latest period and are coming near multidecade lows. The report came just after yesterday’s strong private-sector employment number, and a day before the September jobs report.

 

In other markets, crude oil prices have sold off sharply from a four-year-high reached yesterday, while gold & the U.S. Dollar have remained relatively unchanged.