Definition of professional and non-pro is different market to market but normally depends upon exchange membership. CME though recently changed their data fees and their definition of pro/non-pro as follows.
In order to qualify for Non-Professional status, all of the following criteria must be met by the Subscriber:
1) Existing industry standards
NON-PROFESSIONAL SUBSCRIBER - Any natural person whom a market data Distributor has
determined qualifies as a "Non-Professional Subscriber" and who is not:
(a) Registered or qualified with: the Securities and Exchange Commission, the Commodities
Futures Trading Commission, any state securities agency, any securities exchange or
association, or any commodities or futures contract market or association, nor
(b) Engaged as an "investment advisor" as that term is defined in Section 201(11) of the
Investment Advisor's Act of 1940 (whether or not registered or qualified under that Act),
(c) Employed by a bank or another organization that is exempt from registration under
Federal and/or state securities laws to perform functions that would require him or her to
be so registered or qualified if he or she were to perform such functions for an
organization not so exempt.
2) Subscriber must be viewing the data via a device capable of routing orders to CME Globex and
have an active/capitalized futures account.
3) Subscriber must NOT hold or lease any type of membership at any of CME Group’s DCMs.
4) Any person who does meet the above criteria (1, 2 & 3) is considered a Professional Subscriber.
As an Extra note for active traders. If you have 3 or more logins you may be considered a professional. So if you have main accounts and sub accounts please check with the help desk to make sure you fill out non pro documents.
Please sign in to leave a comment.