Based upon the premise that the Globex platform is negatively affected when clients send excessive messages (e.g., orders, modifies and cancels) that do not provide market value, the CME imposes monetary penalties upon clearing members submitting orders on behalf of its clients in excess of benchmark volume ratios for a given product. We, in turn, maintain the right to pass these charges on to clients and will send a warning message when a violation appears imminent. Clients who receive this notice and continue to send excessive messages may be subject to surcharge fee of $2,000 each time a product benchmark is violated. Additional information regarding the CME Globex Messaging Policy can be found on the CME Group web site.
Why am I receiving notifications concerning the number of messages being sent to the CME’s Globex trading platform?
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Can I add an advisor as a user to my account?
An advisor relationship is only allowed if the advisor maintains a master account and user that is separate from the client account being managed. This separation provides for the necessary segregation of responsibilities, whereby the client controls access to funds, account information and receives independently produced activity and performance statements. The advisor, in turn, is provided with discretionary trading authority and is required to specify the intended recipients of positions prior to submitting an order on behalf of multiple clients. An advisor-client relationship also requires execution of a special Customer agreement for each party which authorizes the relationship and spells out the rights and responsibilities of each party…
Order management overview
Background
Our order management and routing systems are negatively impacted when the volume of orders submitted by clients is significant relative to those which are actually executed. Left unchecked, unproductive orders have the potential to slow system performance, adversely impact other clients and increase capacity requirements and costs. To minimize the load of such orders on internal systems and to comply with exchange policies, certain of which impose a surcharge for excessive messages, we monitor order activity and may place restrictions upon clients who routinely submit a disproportionate number of unproductive orders…
Request for Payment (RFP) FAQs
What is Request for Payment ?
Request for payment ("RFP") is a message that you could send from the Client Portal to your bank to trigger a real-time USD transfer into your account with us…
What are the Commodity futures and futures options Position Limits?
Regulators and exchanges typically impose limits on the number of Commodity positions any customer may maintain with the intent of controlling excessive speculation, deterring market manipulation, ensuring sufficient market liquidity for bonafide hedgers and to prevent disruptions to the price discovery function of the underlying market. These limits are intended as strict caps, with no one account or group of related accounts allowed to aggregate or maintain a position in excess of the stated limit. Outlined below is an overview of the various limit types, calculation considerations, enforcement and links for finding additional information…