To be eligible for election as a NYBOT Member of ICE Futures U.S., an individual must:
In addition, all applicants for a NYBOT Membership must:
Secure 3,162 shares of ICE common stock to be held in a restricted account at Computershare, the Exchange's transfer agent.
Applications must be completed on-line, downloaded, signed and sent with the appropriate fees and attachments to:
ICE Futures U.S., Inc
attn: Member Services
55 East 52nd Street
40th Floor
New York, NY 10055
A non-refundable application fee in the amount of $750 must accompany the application for individual membership and initial application for a member firm. All fees should be in the form of a check or money order payable to ICE Futures U.S., Inc.
Applicants seeking floor trading privileges must submit:
If elected to membership, an initiation fee of $1,000 payable to ICE Futures U.S., Inc. must be submitted within 30 days after election to membership. Incomplete applications shall be kept on file for two (2) months; thereafter, the application shall be deemed withdrawn and the individual must submit a new application for membership.
The Member Services Department conducts an investigation of the business reputation and financial standing of all applicants to be presented to the ICE Futures U.S. The exchange must be satisfied that the character and financial condition of a prospective member meet the high standards set by the exchange. ICE Futures U.S., as it deems necessary and appropriate, may request additional information regarding an applicant.
The name and address of all applicants (and their sponsors, in the case of floor trading privileges applicants) shall be sent to all members of ICE Futures U.S. at least ten days prior to consideration of the application by the exchange.
Each applicant for floor trading privileges is required to appear personally before the exchange. Failure to appear when requested will be considered a withdrawal of the application.
Any firm shall be eligible to receive Member Firm privileges provided that at least one of its general partners, directors, officers, members, executive employees or managers:
The initial application for a member firm applying to receive membership privileges must be accompanied by a non-refundable check in the amount of $750 payable to ICE Futures U.S.
A NYBOT Member who is a special or limited partner in a firm may not confer any of the privileges of ICE Futures U.S. on such firm.
A NYBOT Member cannot confer Membership privileges upon more than one (1) firm at any one time.
NYBOT Memberships may be obtained by purchase or transfer as follows:
To purchase a Trading Membership in the Membership Market:
A NYBOT Membership may be transferred to the member-elect from another NYBOT Member. A Notice of Intention to Transfer and a Power of Attorney S01/S02 must be completed and signed by the NYBOT Member transferring the NYBOT Membership. If the NYBOT Membership was purchased with the funds of a Member Firm, an ABC Agreement may be filed with the exchange. (An ABC Agreement (S06) is an agreement between a Member Firm and the conferring NYBOT Member, and gives certain ownership rights to the NYBOT Membership to the Member Firm.)