This Clearing Advisory details new reporting requirements and timelines for clearing firms stemming from CFTC regulations going into effect on November 8, 2012. Customer Gross Margining (CGM) will apply both to products which are under the futures regulatory regime and to products which are classified as cleared swaps for regulatory purposes. The original CME Group Clearing Advisory regarding CGM was published on March 29, 2012, and is Advisory Number 12-139.
There are three key dates that firms should keep in mind relating to Customer Gross Margining, as explained below: Tuesday September 4, 2012 – the date on which CME will begin accepting daily CGM datafiles from firms; Monday October 8, 2012 – the date by which all firms must be submitting daily CGM datafiles; and Monday November 5, 2012, when CME will go live with Customer Gross Margining (four days prior to the November 8 deadline.)
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