MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announced new incentive programs for individuals who lease their membership (a Delegate Member). These include a membership application fee waiver and a
special liquidity provider permit (LPP) program.
Effective now through December 31, 2012 anyone who applies to lease an MGEX membership with a six or twelve month commitment will have the $1,200 application fee waived.Additionally, through December 31, 2012 Delegate Members are eligible to apply for a special, limited time LPP program. Please note that MGEX Clearing Members are billed standard Delegate rates of $1.20 and the participant is issued a rebate directly from MGEX resulting in the following exchange fees:
Volume/Month | Exchange Fee |
100 | $0.80 |
250 | $0.70 |
500 | $0.60 |
1,000 | $0.50 |
1,500 | $0.40 |
2,000 | $0.30 |
The post-rebate exchange fee will correspond to the total trade volume for the month. For example, if monthly trade volume is 1,000 the exchange fee for each of the 1,000 contracts will be $0.50. Special LPP program rates will remain in effect for the duration of an individual’s lease with a maximum of 12 months.
“An MGEX delegate membership is a great opportunity for individuals to receive lower rates on exchange fees at MGEX,” stated Jesse Marie Bartz, MGEX Chief of Staff & Assistant Corporate Secretary. “Additionally, the development of this introductory LPP program provides further incentives to trade MGEX markets including the flagship North American Hard Red Spring Wheat contract, the Agricultural Index products, and the newly launched Apple Juice Concentrate contract,” said Bartz.
For more information regarding these incentive programs please contact Ryan Dean at (612) 321-7153 or rdean@mgex.com. Information on applying for MGEX delegate membership and the special LPP program are available at www.mgex.com.