The Privilege of Trading Permits | Information
Clearing Participants | Leasing Information

Grain exporting companies, flour and feed mill operators, elevator operators, commodity brokerage houses, and individuals make up the Permit Holders of the Kansas City Board of Trade.

Many Permit Holders are salaried individuals working for grain firms or brokerage houses, but many more are former lawyers, merchants and teachers who were tired of working for somebody else and decided to strike out on their own. The only requirements to become a Permit Holder are that a person must be at least 18 years old, of good character and credit, and must be approved by the Exchange.

Applicants must complete the exchange's orientation program before gaining access to the trading floor. The orientation class, presented by the exchange's regulatory division, focuses on trading rules and practices, and includes a mock trading session.

To become a Permit Holder, an individual must lease a Trading Permit and must meet the financial requirements of the Exchange.

By leasing a Trading Permit, an individual gains access to the trading floor and all its amenities. These include quote services, instant news and weather information, and computer-generated trading vehicles of all kinds. Trading Permits also make trading more affordable, as Permit Holders are charged lower exchange fees on their trades.

A Trading Permit allows trading in any KCBT product. There are 192 Trading Permits.

A Trading Permit may be leased for a minimum of three months. Individuals who lease may trade for their own accounts and/or serve as brokers, but may not represent a firm or partnership.

Being a Permit Holder of the KCBT brings a certain status, and many well-known figures in Kansas City history were former participants of the exchange. Today is no different, as KCBT's Permit Holders play an important role in the local and national scene.