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It would be a great experience, even if you're not planning to trade since it's a whole new ballgame. If I were living in Chicago, I'd seriously give it a try. I wonder now that CBOT is merging with CME, would they hike up the rates too? |
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You can lease the seat and still trade from where you are.
If you wanted to visit the exchange you would need clearance even if you are a member.
THe only benefits of being a member are lower fees and margin requirements, other than that being a member does not have any special market knowledge advantage or information.
From what I read, pit trading is more visual and audio of reading other traders. In essence it really is a game of big stakes poker in the pits.