How is an ECM-Ws average daily volume calculated for the purposes of the minimum quarterly volume requirement?
For each quarter, CME sums the (non-TRAKRs) sides traded through accounts held by the ECM-W and registered in CME’s Exchange Fee System as such. To be included in the sum the contract side must trade and clear on a day within the quarter. CME calculates the average daily volume by dividing that sum by the number of business days in the quarter. Exchange holidays where only Globex was open are excluded from the business day count for the quarter.
Related Questions
- For an ECM-W failing the minimum quarterly volume requirement, when will the membership status and fee changes go into effect?
- How is an ECM-Ws average daily volume calculated for the purposes of the minimum quarterly volume requirement?
- Can a former ECM-W that failed the minimum quarterly volume requirement re-apply to be an ECM-W?
