The Chicago Mercantile Exchange will consider doing away with flat fees on futures trading in favor of increased fees for contracts held for long periods, exchange chairman Jack Sandner told the Chicago Sun- Times.

Under the current system, traders are charged a flat rate of 7 cents to 70 cents for trading any futures contract, regardless of whether it's held for a day or a few years. An increase in the fee would likely find opposition from larger trading firms with large fixed costs and Eurodollar traders, who may hold contracts for up to 10 years.

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