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pointsnfigures

leasing seats

By pointsnfigures, in General Trading

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pointsnfigures    10

pointsnfigures
Posted

I own two seats. One I trade on, one I lease. It occurred to me that the exchanges make it very difficult to lease seats. Many traders don't even know you can, or how to do it. Parts of exchanges are in the 21st century. Leasing isn't. It's a call around market. We programmed it to make it electronic. It's fully automated, with automatic paperwork and auto bidding and offering. You click to confirm a trade.

 

after polling a lot of folks in the trading community, I found that many didn't even know you could lease a seat and save big money on commish.

 

So we created a calculator that is free to use. For example, if you trade 26 cars a day per side in the emini, you should be leasing a seat at $400 per month. That's break even.

 

Check it out and if you trade any volume at all, start saving money.

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BlueHorseshoe    10

BlueHorseshoe
Posted
I own two seats. One I trade on, one I lease. It occurred to me that the exchanges make it very difficult to lease seats. Many traders don't even know you can, or how to do it. Parts of exchanges are in the 21st century. Leasing isn't. It's a call around market. We programmed it to make it electronic. It's fully automated, with automatic paperwork and auto bidding and offering. You click to confirm a trade.

 

after polling a lot of folks in the trading community, I found that many didn't even know you could lease a seat and save big money on commish.

 

So we created a calculator that is free to use. For example, if you trade 26 cars a day per side in the emini, you should be leasing a seat at $400 per month. That's break even.

 

Check it out and if you trade any volume at all, start saving money.

 

I was aware of leasing seats, the potential savings for trading volume, and the bid/offer process.

 

But I thought the process also involved an interview at the exchange, or is this just for purchasing a seat?

 

BlueHorseshoe

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BlueHorseshoe    10

BlueHorseshoe
Posted
Can anyone share a good website that well describes "leasing seats"? I don't have more info about it.

 

If you look on the CME website there's a link. Not sure it's quite as straighforward as the first post might lead you to believe though (though, obviously, it's not impossible!).

 

And unless you're doing a serious number of round trips or want to trade on the floor, you might do just as well to try and talk your broker down on commissions.

 

Hope that's helpful.

 

BlueHorseshoe

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