CME carrot for prop traders

In a bid to lure more proprietary trading volume, Chicago Mercantile Exchange (CME) announced last Monday a programme that will waive fees for new prop traders.

Under the plan which starts on 1 September, CME will waive exchange and clearing fees for up to six months for new traders learning to trade products on the Globex electronic platform. CME said the savings could add up to as much as 44 cents per side and will apply to all CME products. A spokesperson for CME added that the new incentive plan is aimed at the proprietary trading shops or at CME clearing member firms, both of which train new...