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Memberships

(Updated 1 December 2022)

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.

 

Membership Classes

  1. DMM memberships

  2. DFCM memberships

Benefits of Membership*

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:

    • Direct Exchange access available

    • Allowed to make two-sided markets

    • Counterparty to nearly 100% of order flow

    • Net Scenario Margining on all open positions

    • No excess reserve required

    • Maximum loss absolutely defined and known in advance for every position (no unlimited risks)

    • Guaranteed payments on winning positions (current exchanges cannot make this claim)

    • One tick DMM advantage built into RealRoll™ orders

    • One tick DMM advantage built into PEAS™ orders

    • RealVol™ futures, RealDay™ options, and RealGlobe™ futures focus their value, calculations, or exposure on the settlement price — making the PEAS process on RealLimit™ futures especially valuable

    • Priority to the original DMM counterparty on customer closing orders

    • DMM-to-DMM transactions not possible because DMM margin levels are undefined (however, DMMs may become a “customer,” paying customer fees, defining the margin, and achieving customer execution)

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

    • 100% discount on Level I and Level II data fees

    • 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

    • All customers receive 100% discount on Level I data fees

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

    • Eligible to receive revenue-sharing of $0.50 of Exchange Fees (upon CFTC approval)

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*All discounts are compared against standard Exchange Fee customer rates and subject to change.

Membership Cost*

DMM Membership  $50k

DFCM Membership  $100k

 

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