Fees: Eris SOFR Swap futures and Eris Options
To trade CME Group Eris SOFR Swap futures or Eris Options, a user must have an account with a Futures Commission Merchant (FCM, or Broker) with Exchange Membership at CME Group. This allows the user to execute and hold positions in their account at their FCM.
CME Group Fee Schedules
Details of CME exchange fees for Eris contracts may be found on CME Group’s fees page, as follows:
https://www.cmegroup.com/company/clearing-fees.html
Eris fees may be found in the links to “CBOT Fee Schedule” in the section titled “Financial Products.”
Exchange Fees
Fees incurred for trading Eris contracts may be broken into exchange fees and FCM fees. Please be aware that FCM clearing fees are separate from exchange fees and are negotiated separately.
Exchange fees vary according to whether the user has an Exchange Membership, incentive plan, or market making status, however, exchange fees for Eris SOFR Swap Futures range from $0.45 per contract for exchange members, to $0.70 per contract for non-members. For Eris Options, execution fees range from $0.35 per contract for exchange members, to $1.09 per contract for non-members.
Additionally, position holders will incur a maintenance fee of $1.00 per contract on each quarterly IMM date as described below.
Passive surcharge for market makers
The passive market maker of privately negotiated trades in Eris SOFR or Eris Options will incur a surcharge, in addition to standard exchange fees, depending on the tenor of the contract. The aggressor faces no surcharges. These surcharges are detailed in the Exchange Fees for Clearing & Trading section of the CME Group website; click here and navigate to the latest CBOT fees schedule for full details.
Maintenance fees: Charged quarterly
CME Clearing assesses a quarterly per-contract Position Maintenance Fee (currently $1.00) for positions in Eris SOFR contracts that are off-the-run (i.e., on or after their Effective Dates), to support the on-going risk management activities required for long-dated futures contracts. CME Clearing collects maintenance fees via clearing firms, and calculates them based on positions held at the end-of-day on each of the four IMM dates (i.e., third Wednesday of March, June, September, and December). For the avoidance of doubt, participants who roll their front-month positions quarterly (prior to the Effective Date) will not be subject to such fees. Maintenance fees do not apply to Eris Options.
Click here and navigate to the latest CBOT fees schedule for documentation details.
