Speculative ("Spec") /non-member initial margin requirements for all products are set at 110% of the maintenance margin requirement for a given product. Hedger/member initial margin requirements for all products are set at 100% of the maintenance margin requirement for a given product.
The following table¹ depicts the aforementioned logic in practice:
|CC||Rate Type||Description||ISO||Current Initial||Current Maintenance|
|CRUDE OIL SPREADS - Outright Rates|
|CANADIAN HEAVYCRUDE(NET ENERGY) FUT(WCC)|
|WCC||Spec||Mnths 3 - 6||USD||1,540||1,400|
|WCC||Hedge/Member||Mnths 3 - 6||USD||1,400||1,400|
The maintenance margin requirement for Canadian Heavy Crude (Net Energy) Futures Months 3-6 is $1,400. The Hedge/Member initial margin requirement is $1,400, while the Spec initial margin requirement is $1,540 ($1,400*1.1).
Please direct any questions regarding the initial margin requirements to the Risk Management Group at 312-648-3888 or at email@example.com.
¹ For illustration purposes only