Risk Management / CME SPAN
Calculating Performance Bonds

The CME Clearing Risk team determines initial performance bond/initial margin utilizing the CME Group proprietary SPAN margin system. The SPAN system is a global industry standard, made available by license agreement, that:

  • Monitors market activity, including large positions and concentrated positions
  • Performs a twice daily mark-to-market of open positions
  • Manages risk through multi-lateral netting by customer and house account per firm
  • Assures the segregation of customer assets from firm assets

Performance Bonds / Margins for CME Group Products

Performance bonds/margins vary according to product and market volatility. View current requirements to see the impact of recent markets on your trading account requirements.

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SPAN

Standard Portfolio Analysis of Risk (SPAN) is a highly sophisticated, value-at-risk methodology that calculates performance bond/margin requirements by analyzing the "what-if's" of virtually any market scenario.

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SPAN Documentation and Software Distribution

A number of different documents and guides relate to using SPAN. Please ensure you get all the information you need.

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