Memberships

(Updated 1 April 2021)

Overview

RealBOT LLC, dba RealDemand Board of Trade (“RealBOT™” or the “Exchange”) a wholly owned subsidiary of Demand Derivatives Corp. (“DDC”), is offering memberships on the Exchange ("Memberships").

There are two distinct classes of Membership:  Designated Market Makers (“DMMs”) and Designated Futures Commission Merchants (“DFCMs”).  At this time, no other memberships are allowed or needed.  Regardless of which Membership class is selected, participants desiring privileges of Membership must complete an application, be accepted by the Exchange, and meet all requirements of the particular Membership class.


All potential Members must complete a Membership Application Form

Note that names (names only) of approved Members may be published and used by DDC for marketing, public relations, capital-raising, and regulatory purposes.  All Membership details are subject to CFTC approval.  Applicants shall agree to take no recourse against the Exchange in the event the application is rejected (except as provided in Section 8c of the Commodity Exchange Act), set forth all financial arrangements made in connection with the proposed purchase or transfer of the membership, and agree to abide by the applicable rules and regulations of the Exchange and all amendments thereto.

  1. DMM memberships

  2. DFCM memberships

Membership Application Form

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Note:  form must be physically printed, signed and notarized.  Electronic signatures not accepted.

  • Memberships may be leased at any time (after launch)

  • Memberships may be sold at any time (after launch)
     

  • For DMMs Only:

    • Allowed to make two-sided markets

    • Counterparty to nearly 100% of order flow

    • 100% discount on co-location setup fees (prior to launch)

    • Net Scenario Margining on all open positions

    • DMMs must be sponsored by a DFCM

    • 100% discount on Level I and Level II data fees (for at least five years)

    • DMM1s have quoting requirement and 75% fee discount
    • DMM2s have no quoting requirement and 50% fee discount
       
  • For DFCMs Only:

    • No customer default risk possible

    • No requirement to invest in a "Default Fund"

    • No need for a clearing member to clear/guarantee transactions

    • All customers are gross margined

    • 100% discount on Level I data fees for customers (for at least five years beginning at launch)

    • Must waive customers' per-contract FCM charges (Exchange Fees at standard customer rates still apply)

    • Eligible to receive revenue-sharing of 30% to 50% of Exchange Fees (variability in rate based on volume and input from DFCM Members) (upon CFTC approval)

*All discounts are compared against standard Exchange Fee customer rates.

                                                                               Discount                              DMM Cost                           DFCM Cost

Expected Price at Launch

(regardless of the number of memberships sold)                       0%                                        $50k                                      $100k

1st Member to Join                                              99%                                       $0.5k                                     $1k

2nd Member                                                         98%                                       $1k                                        $2k

3rd Member                                                          97%                                       $1.5k                                     $3k

         ~                                                                    ~                                           ~                                            ~

         ~                                                                    ~                                           ~                                            ~

         ~                                                                    ~                                           ~                                            ~

97th Member                                                        3%                                         $48.5k                                    $97k

98th Member                                                        2%                                         $49k                                       $98k

99th Member                                                        1%                                         $49.5k                                    $99k

100th Member                                                      0%                                         $50k                                       $100k

* PRIOR TO EXCHANGE LAUNCH, DISCOUNTED MEMBERSHIP PURCHASES ARE NOT REFUNDABLE.
FULL PRICE MEMBERSHIP PURCHASES ARE REFUNDABLE.