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Becoming a member of the Minneapolis Grain Exchange involves a multi-step procedure in order to ensure the integrity of our members and our exchange.
Full
Membership
Full Members can fill paper in the pit with proper registration as a floor broker with the National Futures Association.
Forms to complete
Bid to Purchase Membership
Assignment of Voting Privileges
Authorization for Release of Information
Financial requirements
See above purchase price
$900 Application/Transfer Fee
10% Bid Deposit
Other
Pit Number Assigned
Attend Compliance Orientation
Select a Clearing Firm
Procedure
Application is forwarded to investigative firm for background search
Application review process
Staff
Corporate Secretary
Membership Committee
Board of Directors
Delegate
Membership
Delegate Members can trade in the pit with proper registration as a floor broker or floor trader with the National Futures Association.
Forms to be completed
Bid to Lease Membership
Membership Application
Delegation Agreement
Authorization for Release of Information
Financial requirements
See above purchase price
$900 Application/Transfer Fee
$1000 Refundable Lease Deposit
Other
Pit Number Assigned
Attend Compliance Orientation
Select a Clearing Firm
Procedure
Application is forwarded to investigative firm for background search
Application review process
Staff
Corporate Secretary
Membership Committee
Board of Directors
Additional Requirements
Delegate Members must also fulfill one of the following two requirements:
1) A Delegate who has been a Member for six calendar months or less must pay an access fee of $50 each month unless the Delegate trades a minimum of
10 futures and/or options contracts.
OR
2) A Delegate who has been a Member for more than six calendar months must pay an access fee of $200 each month unless the Delegate trades a minimum of
75 futures and/or options contracts.
Questions regarding membership should be directed to
Layne Carlson, Membership Services, 612-321-7169, or
lcarlson@mgex.com.
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