| Membership Type |
Initial Margin ($) |
Minimum Net Worth ($) |
CBB License Type |
Membership Application Forms |
| Clearing Member (CM) |
300,000 |
2,650,000 |
To become a CM the applicant must comply with Volume 6, Category 5 (Clearing Member) of the CBB rulebook |
• BCDC membership form derivatives segment
• CBB application for license forms 1, 2, 3
|
|
Trading & Clearing Member - General (TCM General)
|
300,000 |
1,000,000 |
To become a TCM – General the applicant must comply with Volume 6, Category 5 (Clearing Member) plus Category 4 (Broker – Dealer) of the CBB rulebook |
• BFX & BCDC membership form derivatives segment
• CBB application for license forms 1, 2, 3
|
|
Trading & Clearing Member - Self Clearing (TCM Self)
|
200,000 |
300,000 |
To become a TCM – Self the applicant must comply with Volume 6, category 5 (Clearing Member) plus Category 4 (Broker - Dealer) of the CBB rulebook |
• BFX & BCDC membership form derivatives segment
• CBB application for license forms 1, 2, 3
|
| Trading Member (TM) |
N/A |
150,000 |
To become a TM the applicant must comply with Volume 6, Category 4 (Broker – Dealer) with the CBB rulebook |
• BFX membership form derivatives segment
• CBB application for license forms 1, 2, 3
|
Proprietary Trading Member (PTM)
|
N/A |
75,000 |
Authorised by the CBB but exempted from licensing rules and regulatory requirements. |
• BFX membership form derivatives segment
• CBB application for exemption forms 2, 3, 4
|
| Authorised Remote Member (ARM) |
N/A |
75,000 |
Authorised by the CBB but exempted from licensing and regulatory requirements. Approval from home regulator required to conduct client business. |
• BFX membership form derivatives segment
• CBB application for exemption forms 2, 3, 4
|
|
Proprietary Authorised Remote Member (PARM)
|
N/A |
25,000 |
Authorised by the CBB but exempted from licensing rules and regulatory requirements. |
• BFX membership form derivatives segment
• CBB application for exemption forms 2, 3, 4
|