Minneapolis Grain Exchange MGEX - Minneapolis Grain Exchange
Clearing Application Procedures
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400 South 4th Street
130 Grain Exchange Building
Minneapolis, MN 55415

ph: 612-321-7101 or
toll free: 1-800-827-4746
mgex@mgex.com

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Clearing Application Procedures
Below is a list of documents and forms required to become a clearing member at the MGEX. Click each document to download the PDF form. Click here for a checklist of all items needed.

Applications/Agreements

Supporting Documents

  • List of officers or partners, including titles, addresses, direct phone numbers, fax numbers and email addresses

  • Resolution stating a Record Holder is authorized to act on behalf of the applicant

  • Articles of Incorporation, Operating Agreement or Partnership Agreement

  • Provide proof of doing business in Minnesota (Certificate of Good Standing)

    • Contact the Secretary of State’s Office at (651) 296-2803

  • Ownership chart (detailing percentages of ownership and business form) of all entities, including affiliates, in the corporate structure

  • List of branch offices

  • List of Guaranteed Introducing Brokers

  • Letter granting authorization to MGEX to provide the DSRO with the end-of-day account balance information (FCMs only)

Financial

  • Audited financial statement (if not previously submitted)

  • Most recent quarterly financial statement

  • $1,500 Clearing Application Fee
  • $1,200 Membership Application Fee (if not currently a member)

Deposit

  • Security Deposit of $500,000 (cash)

Please contact Jesse Marie Green at (612) 321-7122 or jgreen@mgex.com or Emily Calderin at (612) 321-7158 or ecalderin@mgex.com with any questions.

   
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