CME Rules 106.H. and R allow certain privileges of membership to firms that are not duly elected as clearing members.

  CME Rule 106.H. (Corporate Member Firm Transfers) allows entities, including hedge funds, commodity pools, banks, FCMs, foreign brokers, broker/dealers, commodity trading advisors, introducing brokers, commercial entities, proprietary trading firms and other corporate entities to obtain preferential clearing and Globex fee rates on their trading of CME products, within the division of membership held, for both electronic and floor trades.  The CME Rule 106.H. corporate member firm must purchase one membership or lease two memberships in the division in which preferential rates are desired.

For more information on CME Rule 106.H. Corporate Membership, please see the CME  Rule 106.H. Corporate Membership Benefits and Requirements (PDF).

  CME Rule 106.I. (Related Party Employee Transfer) allows all entities that either: (1) own, directly or indirectly, 100% of a clearing member or (2) that have 100% ownership, direct or indirect, in common with a firm that owns, directly or indirectly, 100% of a clearing member ("related parties"), to obtain preferential clearing and Globex fee rates on their trading of CME products, within the division of membership owned, for both electronic and floor trades.  A membership may be purchased by the clearing member or any firm that either: (1) owns, directly or indirectly, 100% of a clearing member or (2) that has 100% ownership, direct or indirect, in common with a firm that owns, directly or indirectly, 100% of a clearing member and is in addition to the memberships assigned for the clearing member's clearing membership privileges.

  CME Rule 106.R. (Electronic Corporate Membership) allows eligible proprietary trading firms to obtain preferential clearing and Globex fee rates on their electronic trading of CME products.  Electronic Corporate Members (ECMs) may either (1) purchase one membership or lease two memberships (ECM-Holding Member or ECM-H) or (2) satisfy minimum quarterly volume thresholds and have a waiver of the membership holding requirement (ECM-Volume Incentive Program or ECM-W).  An ECM-H will generally pay lower clearing and Globex fees than an ECM-W.

For more information on Electronic Corporate Membership, please see the Electronic Corporate Membership Q&A (PDF).