CBOT的全球发展中市场计划是为了推进在非传统地区的市场业务发展而设立的。从2006年起,合格地区的自营企业(包括中国大陆和台湾地区,不包括香港)可以申请豁免占IB佣金额60%的交易所非会员费1.8美元。免掉之后,在IB交易美国的CBOT农产品期货只需要1.21美金(全含,包括了1分钱的NFA监管费)。以下是原文定义,什么样的自营企业可以合格。原则上说,注册的以自营为目的公司都可以申请豁免。做自动交易的公司不能申请豁免。
本计划2008年7月1日到期,已延长到9月底,之后合并入EMPP新兴市场中执行。
What is the Global Developing Markets Program (GDM)?
The Global Developing Markets Program was created to foster the development and growth of
volume from traders in countries that are not historically active in CBOT futures and futures-options
contracts.
Who qualifies to become a GDM participant?
The proprietary trading group or trading arcade, or if established as a separate legal entity, its parent, must be registered with the CBOT as a Global Developing Markets participant firm and reside in a CBOT approved location. Proprietary trading group and arcades are defined as follows:
• Proprietary Trading Group: A legal entity consisting of individuals who are owners, employees or contractors of the group who trade in the name of accounts owned by the group and exclusively use the funds of the group for all of their trading activity.
• Trading Arcade: A legal entity consisting of individuals who are owners, employees or contractors of the entity which provides a legal, risk management and physical structure and trading facilities to traders in return for sharing of trading profits. Transactions are executed in the name of accounts owned by the trading arcade and originate from the trading arcadefacility. The funds used for trading may be corporate pools of funds or commingled individual/corporate funds.
The following entities are not eligible for the GDM Program: entities trading third party customer funds, such as commodity trading advisers, commodity pool operators, hedge funds, investment trusts, brokers, fund managers, commercial and investment banks, insurance companies, mutual funds, unit trusts and other similar entities.
The CBOT will closely monitor the Program and the CBOT will have the sole authority to determine whether an entity is, or is no longer, eligible for the GDM Program.
What are approved locations for the GDM Program?
The CBOT shall have sole authority to determine whether a location is, or is no longer, considered to be an approved developing market location for the GDM Program. The list of excluded locations is:
Austria, Belgium, Canada, France, Germany, Hong Kong, Ireland, Italy, Japan, Luxembourg, Monaco, Netherlands, New Zealand, Portugal, Scandinavia, Singapore, Spain, Switzerland, UK, and USA.
What are the requirements for traders who want to receive the program benefits?
The purpose of the GDM Program is to develop and train new traders located in non-traditional countries. Traders must meet the following requirements:
• Trade CBOT products through an approved GDM Program participant firm whose facilities are located in a country designated as a CBOT approved developing market.
• Utilize CBOT collateral materials, training programs, and educational tools to increase and develop their knowledge of CBOT products.
• Actively trade CBOT products with discretion. Traders who are operators of automated trading systems are not eligible for the Program.