MGEX™ Clearing Member List

View the complete list of current MGEX Clearing Member 

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MGEX Membership

In its role as a central counterparty, the MGEX Clearing House deals directly with Clearing Members, each of which assumes financial responsibility for the contracts it submits to MGEX Clearing. Clearing Membership at MGEX offers access to clear various products offered by MGEX and Bitnomial Exchange. Participants on an exchange for which MGEX provides clearing services must either be a Clearing Member of MGEX or form an omnibus relationship with one of the MGEX Clearing Members listed above.

To be approved, interested firms must successfully complete the MGEX application and all related agreements and forms for Clearing Membership. A full list of requirements is set forth below. In addition, firms that seek to clear trades for customers must be registered as futures commission merchants.

What is Required to be a Clearing Member

  • Security Deposit of $500,000 (See Memo)
  • Must be able to meet CFTC minimum financial requirements
  • Fill out application forms. See checklist of requested documents here.


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 MGEX to provide the DSRO with the end-of-day account balance information (FCMs only)


  • Audited financial statement (if not previously submitted)
  • Most recent quarterly financial statement
  • $2,000 Clearing Application Fee


  • Security Deposit of $500,000

Please contact Lindsay Hopkins at (612) 321-7143 or with any questions.

MGEX 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 MGEX funds are utilized. (Updated as of April 2022)

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 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

MGEX Agricultural Products
SPIKES Futures
Bitnomial Clearing Fees

Exchange and Clearing Fees will be charged per account.

MGEX Clearing Member Cash Interest Payment Program

MGEX Clearing Members may be eligible to receive an interest payment for USD cash balances that are posted for margin and security deposits at the MGEX Clearing House. For more information, please see the FAQ here.

Effective October 1, 2023, the MGEX Clearing Member Cash Interest Payment Program interest rate will be 2.25%. Any changes to this rate will be published to the website.

*MGEX 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.