FPL Membership Pricing Structure

Membership Fee Structure
Membership Type	Category	Fee (US $)	Description
Premier		$25,000	This membership type is available to Buy-side, Sell-side, Exchanges / ECNs and vendors of FIX solutions which wish to gain greater recognition, marketing and sponsorship benefits as a Premier member of FPL. Examples of firms that have chosen to become FPL Premier Members include global investment banks and vendors, exchange groups, global investment managers and global carriers. A current list of FPL's Premier Members can be found at: www.fixprotocol.org/members/premier.
Regular	Non-Buy-side	$8,000	This membership type is available to Sell-side firms, Exchanges / ECNs and vendors of FIX Solutions.
	Buy-side	$4,000	To encourage increased participation from Buy-side firms, reduced pricing is available for this community.
	Emerging Markets	$2,000	Reduced pricing is available for firms who are head-quartered in MSCI Emerging Market countries and meet the specified criteria identified below.
	Small Firm	$500	Small firms or independent individuals that meet the specific criteria identified below.

For details regarding the additional recognition and sponsorship opportunities granted to FPL Premier Member firms please visit FPL Member Benefits page.
Please note that all members receive equal voting privileges.

Criteria for 'Small Firm' Membership:

The qualifying firm cannot be a subsidiary or part of a larger group organization
The firm must meet at least two of the following conditions:

Total number of employees or dedicated contractors cannot exceed 8
Projected revenue or revenue for prior year cannot exceed $500,000
Net Assets (balance sheet's Assets - Liabilities) cannot exceed $125,000

A letter signed by a senior officer of the firm stating that the firm meets the above criteria is required

Please note that an independent, self-employed, or unemployed individual may apply for 'Small Firm' membership

Annual membership pricing is based upon the level of volunteer resources contributed:

In order to qualify for the $500 rate, the firm or individual must agree to participate over a 12 month period as a volunteer in at least 5 hours worth of FPL committee or working group meetings or assigned tasks
Annual membership renewal; Applications must be re-submitted and firms must re-qualify

Criteria for 'Emerging Markets' Membership:

The qualifying firm must be domestic and head-quartered in one of the MSCI Emerging Markets countries, which are listed at: www.mscibarra.com/products/indices/equity
The firm must not be multi-national.
The firm must meet at least two of the following conditions:

Total number of employees or dedicated contractors must not exceed 100 (if less than 8 then would still fit under the small firm as long as they match one of the two other criteria)
Projected revenue or revenue for prior year is less than $1,000,000
Net Assets (balance sheet's Assets - Liabilities) is less than $250,000

A letter signed by a senior officer of the firm stating that the firm meets the above criteria is required

'In-Transition' membership:
FPL will continue to provide FPL Member privileges to individuals who have recently left the employment of a FPL Member firm for up to 3 months.

Please note that individuals who are part of an 'In Transition' membership are not entitled to vote.

Anonymous members:
Firms such as Hedge Funds may elect to join FPL but remain anonymous. The firm will be contributing to the goals of FPL financially and will benefit from FPL Member access to the website.

The firm will be counted as part of the total number of FPL firms and the total number of anonymous FPL firms, however, the firm's identity and employees will not be displayed in member listings.

Special relationships:
FPL may grant FPL Member privileges to entities such as other industry standards organizations, trade associations or regulatory bodies with which FPL's Global Steering Committee has established a formal memorandum of understanding.

These relationships will be reviewed and renewed on an annual basis.
Please see the Membership Pricing Structure - Frequently Asked Questions section for additional information.