CME Group Accepts Gold as Collateral

  • 27 Jul 2012
  • By CME Group
  • Topics: Metals

An Alternative to Traditional Bond Performance Collateral

In October 2009, CME Clearing became the first clearing house to allow firms to post physical gold to cover non-segregated (NSEG) performance bond requirements. This enhancement continues to be available to customers as an alternative to traditional performance bond collateral. 

There is a 15% asset haircut on the market value of all gold deposits. Gold is a category three asset. As such, gold is eligible either on its own or on a combined basis with IEF4, Foreign Sovereign Debt, and Stock for 40% of core requirement per currency requirement or $3 billion per Clearing Member Firm, whichever is the lesser of the two. There is a firm asset limit of $500 million. These guidelines are evaluated on a regular basis and are subject to change.

Fees for storage, insurance and handling are assessed by the custodian and passed on to the firms each month. Please contact the financial unit for storage fees for each custodian. CME Clearing sends pre-notification via email to back office managers each month, which reflect the date that these monies are debited directly from your firm’s house account.

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As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through the CME Globex electronic trading platform and trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort.

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX, and COMEX.