Collateral Types Accepted for Futures, Options, Forwards, OTC FX & Commodity Swaps

Acceptable Collateral for Deliveries

View Collateral Summary

CME Clearing accepts cash and Letters of Credit from a list of CME approved banks. See below for more information.

Standby Letters of Credit for Deliveries

  • May be utilized to meet delivery full value margin (FVM) and discretionary margin requirements applied to certain contracts that are in delivery
  • Issued in the Exchange’s name by approved banks (CME Inc. is the sole beneficiary)
  • Subject to bank issuing limits
  • Letters of credit for deliveries are directly related to specific delivery assignments
    • The customer must be the applicant
  • Financial-affiliated clearing members cannot issue letters of credit for deliveries for house FVM and discretionary margin

Contact Us

For a list of approved banks for letters of credit for deliveries or for more information, contact the Deliveries Team:

Deliveries Team

U.S.: +1 312 930 3172

UK: +44 2033 793 131

Cash

  • May be utilized to meet delivery FVM and discretionary margin requirements applied to certain contracts that are in delivery
  • For contracts with a margin requirement in a foreign currency, the requirement can be met with the contract’s settlement currency or USD
  • All contracts with a margin requirement in USD must be met with letters of credit or USD cash

Haircut Schedule

  • 0% haircut

Additional Delivery Resources

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages file found under Forms and Instructions.

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