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For an ECM-W failing the minimum quarterly volume requirement, when will the membership status and fee changes go into effect?

April 26, 2017changes ecm-w failing fee membership minimum quarterly requirement Status volume

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For an ECM-W failing the minimum quarterly volume requirement, when will the membership status and fee changes go into effect?

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On the 15th of the review month (or first business day thereafter). For instance, if an ECM-W averages below 50 contracts (sides) a day for the first quarter of 2007, the ECM-W membership and fee status will change effective April 15, 2007. For the period April 1 through April 14, the firm will retain Electronic Corporate Membership and receive the rates of an ECM-W. On and after April 15, the firm’s Electronic Corporate membership will be expired and the firm will receive non-member/customer rates on all future trades.