MIAX Futures™ Clearing Member List
View the complete list of current MIAX Futures Clearing Members.
MIAX Futures Membership
In its role as a central counterparty, the MIAX Futures Clearing House deals directly with Clearing Members, each of which assumes financial responsibility for the contracts it submits to MIAX Futures Clearing. Clearing Membership at MIAX Futures offers access to clear various products offered by MIAX Futures and partner exchanges. Participants on an exchange for which MIAX Futures provides clearing services must either be a Clearing Member approved by MIAX Futures and the partner exchange, or form an omnibus relationship with one of those Clearing Members. In addition, firms that seek to clear trades for customers must be registered as futures commission merchants.
New Clearing Members
To be approved, interested firms must successfully complete the Clearing Member Application and all related agreements and forms for Clearing Membership. A full list of requirements is provided in the Clearing Member Application packet. All new Clearing Members must submit a Clearing Member Application, even if they will only clear a partner exchange’s contracts.
The following requirements must be fulfilled prior to approval:
Applications/Agreements
- Application for Clearing Privileges
- MIAX Futures Clearing Member Agreement
- Segregation of Funds Agreement (FCMs only)
- Clearing Member Contact Information
- Clearing Member Agreement for applicable partner exchange(s)
- Authorized Person(s) Form
Supporting Documents
- List of officers or partners, including titles, addresses, direct phone numbers, fax numbers and email addresses
- Articles of Incorporation, Operating Agreement, or Partnership Agreement
- Ownership chart (detailing percentages of ownership and business form) of all entities, including affiliates, in the corporate structure
- List of branch offices
- List of Guaranteed Introducing Brokers
- Letter granting authorization to MIAX Futures to provide the DSRO with the end-of-day account balance information (FCMs only)
- Risk Management Policies & Procedures
Financial
- Must meet CFTC minimum financial requirements
- Audited financial statement (if not previously submitted)
- Most recent quarterly financial statement
- $2,000 Clearing Application Fee
Deposit
- Security Deposit (amount determined by Risk)
Testing
- Complete mock trading session for each contract class to be cleared
Request for Additional Clearing Privileges
Any Clearing Members already approved by MIAX Futures who wish to request privileges to clear an additional exchange must complete a Request for Additional Clearing Privileges. A full list of requirements is included in the Request for Additional Clearing Privileges packet. If the request is to clear a partner exchange’s contracts, the firm must also be approved by that partner exchange. Information submitted to MIAX Futures pursuant to this Request may be shared with the partner exchange solely for the purpose of the partner exchange’s approval.
Forms
Contact
Please direct all questions and form submissions to the Clearing Membership team at clearingmembership@miaxglobal.com.
The Exchange has approved the following schedule of Exchange and Clearing Fees for each contract of futures or options bought, sold, exchanged for physical, transferred, delivered, accepted for delivery, cash settled, exercised or assigned effective:
For purposes of computing fees, a Trading Permit Holder is the individual or firm or corporation listed as the record owner of a membership at the time of the official closing (December 4, 2020) of the merger and acquisition between MGEX (MIAX Futures) and MIH. Trading Permit rates do not apply to employees, associated persons, affiliate companies, subsidiary corporations or parent corporations of a member firm or corporation unless they were also a record owner of a membership at the time of the close of the merger.
Please see the below links for Exchange and Clearing Fees
MIAX Futures Agricultural Products
Bitnomial Clearing Fees
Exchange and Clearing Fees will be charged per account.
MIAX Futures has over $50 million in dedicated financial resources to address a potential default to the Clearing House. This amount includes a dedicated and segregated cash reserve, clearing member security deposits, surplus funds and a line of credit. In all instances, the available financial resources of the defaulting clearing member, including but not limited to any guarantees and pledges, will be applied before any MIAX Futures funds are utilized. (Updated as of January 2024)
MIAX Futures Clearing Members may be eligible to receive an interest payment for USD cash balances that are posted for margin and security deposits at the MIAX Futures Clearing House. For more information, please see the FAQ here.
Effective September 19, 2024, the MIAX Futures Clearing Member Cash Interest Payment Program interest rate will be 1.75%. Any changes to this rate will be published to the website.
MIAX Futures reserves the right to change the terms and conditions of this program at any time without prior notice. If changes are made, the revised terms and conditions will be posted to the website.
Clearing Members and customers of Clearing Members are invited to nominate individuals to serve on the Clearing House’s two Risk Committees, the Risk Advisory Working Group (RWG) and the Risk Management Committee (RMC). Both committees have membership from representatives of Clearing Members and customers of Clearing Members and meet a minimum of twice per year to discuss matters materially impacting the risk profile of the MIAX Futures DCO. The RWG is a consultative body providing risk-based input to the Clearing House and RMC. The RMC is also a consultative body which provides risk-based input to the Clearing House and MIAX Futures Board of Directors.
Clearing Members and customers of Clearing Members with an interest in representation on either committee may complete the Nominations Form and submit it via email to MIAXFuturesClearingMembership@miaxglobal.com.