In a move to lower the barriers to becoming a clearing firm at Chicago Mercantile Exchange (CME), the exchange announced it will reduce the number of CME Class A shares its clearing members must acquire and hold as part of their capital investment requirement.
Beginning 1 October, firms will be required to hold a minimum of 30,000 shares of CME stock, down from the current requirement of 72,092 shares. Clearing members must also hold two CME memberships, two IMM memberships, two IOM memberships and one GEM membership. That requirement remains unchanged.
CME...