Up Your Options Trading Game by Participating in the CBOE® Frequent Trader Program

Here at Lightspeed, we are always listening to our customers’ feedback and incorporate it into our stock and options trading software. When one of our clients recently asked us if we could support the CBOE Frequent Trader program, we asked ourselves: why not? Acting quickly, we configured our systems so that our clients would be able to participate in this program.

Now, not only can our customers take advantage of some of the cheapest options trading, but frequent traders are eligible for an additional rebate by participating in this CBOE program.

What is the CBOE Frequent Trader program?

It is a rebate program that applies to CBOE’s proprietary products. Traders can earn a rebate of a specified percentage based on the monthly volume of contracts traded. The products included are:

  • CBOE Volatility Index® (VIX®)
  • S&P 500® Index (SPXSM)
  • SPXW
  • Russell 2000 Index (RUTSM)
  • RUTW

For each type of option, there are three tiers. Traders can earn the highest percentage from Tier 3, up to a 25% Fee Rebate. The entire details of the program may be viewed here: http://www.cboe.com/products/frequent-trader-program-cboe

How can I participate in the CBOE Frequent Trader Program?

Signing up for the program is simple. Lightspeed customers can obtain a CBOE Frequent Trader ID by registering at https://www.cboe.com/FTID/registration.aspx. CBOE will then assign you a unique identification number that you will then provide to Lightspeed. Lightspeed will then append the ID to both the customer’s manual and electric orders. Your trades of all applicable products will be associated with your ID number. Each day, you will receive a statement via email documenting all of the contracts traded, along with the estimated fees and the potential rebate to be earned. The rebate will be paid through an Electronic Funds Transfer to an account of your specification.

Why should I participate in the CBOE Frequent Trader program?

If you are an active trader who frequently trades the above CBOE option products, then signing up for the program is a no-brainer. For example, if you are a Lightspeed customer who trades over 100,000 SPX contracts per month, you’re already enjoying our exceptionally low contract rate of just $0.20 per contract. This volume would automatically qualify you for Tier 3 for SPX options, which would allow you to take advantage of a 9% fee rebate.

We are always searching for ways to make your life as a day trader simpler and more profitable. Call or email us today to learn more about this program and other ways that Lightspeed can help you.

Lightspeed Financial Services Group LLC is not affiliated with these third-party market commentators/educators or service providers. Data, information, and material (“content”) are provided for informational and educational purposes only. This content neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any securities or contracts. Any investment decisions made by the user through the use of such content is solely based on the users independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Lightspeed Financial Services Group LLC does not endorse, offer nor recommend any of the services or commentary provided by any of the market commentators/educators or service providers and any information used to execute any trading strategies are solely based on the independent analysis of the user.

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