Hedge Funds

CME aims to attract hedge funds with lower fees


The Chicago Mercantile Exchange is aiming to attract more hedge funds and managed futures groups by lowering clearing fees for such managers.

The incentive program, which provides for reduced clearing costs for six months in foreign exchange and a limited number of associated futures markets, was created with the specific purpose of drumming up hedge fund and CTA trading business.

Any hedge fund or managed futures player with at least $50 million in firm-wide assets is eligible for the six-month program, which will lower currency-clearing costs from $1.60 to 60 cents per round turn. The program begins November 1.