Membership

Becoming a member of MGEX involves a multi-step procedure in order to ensure the integrity of our members and our exchange.
  
Full Membership
Full Members can fill paper with proper registration as a floor broker with the National Futures Association.

Full Membership Procedures

Forms to complete
Membership Application

Bid to Purchase Membership
Assignment of Voting Privileges
Disclosure and Authorization

A Summary of Your Rights under the FCRA (for your review)

Financial requirements
See above purchase price
$1,200 Application/Transfer Fee (Cashier's Check)
10% Bid Deposit (Cashier's Check)
 
Other
Pit Number Assigned
Attend Compliance Orientation
Select a Clearing Firm

Procedure
Application is forwarded to investigative firm for background search

Leased Membership
MGEX Delegate Membership is available to individuals trading on their own account.

Delegate Membership Procedures

Forms to complete
Membership Application

Bid to Lease

Minimum Volume Requirements

Delegation Agreement

Disclosure and Authorization

A Summary of Your Rights under the FCRA (for your review)

Financial requirements
Lease price - See the MGEX website at http://www.mgex.com/seat_prices.html for current information, or contact the Membership Department

$1,200 Application/Transfer Fee (Cashier's Check)
$1,000 Refundable Lease Deposit (Cashier's Check)

Minimum volume requirements

Delegate Members are required to trade a minimum of twenty-five (25) MGEX contracts per month or a fee of two hundred dollars ($200) will be charged.  Trades can be in any MGEX product and either futures or options.

Additional requirements (to be completed if you are going to trade by open outcry in the Exchange Room)

Pit Number Assigned
Attend Compliance Orientation

Other
Select a Clearing Member

Questions regarding membership should be directed to Elizabeth Garvey, Membership Services Coordinator, 612-321-7158, or egarvey@mgex.com.