What is Required to be a Clearing Member?
• Security Deposit of $500,000 (at least $100,000 must be cash)
• Must be able to meet CFTC minimum financial requirements
• Application Forms
MGEX has over $20 million in dedicated financial resources to address a potential default to the Clearing House. This amount includes a dedicated and segregated cash reserve, clearing member security deposits, surplus funds and a line of credit. In all instances, the available financial resources of the defaulting clearing member, including but not limited to any guarantees and pledges, will be applied before any MGEX funds are utilized.