Summary of Acceptable Collateral

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Performance Bond Collateral

Hard Dollar Limits

Asset Class Hard Dollar Limit
Cash None1
U.S. Treasuries None
Letters of Credit2 $1 billion
U.S. Government Agencies $2 billion
Agency MBS $1.4 billion
U.S. TIPS $1 billion
U.S. Treasury STRIPS $1 billion
Gold3 $750 million
IEF2 – Money Market Funds $5 billion
Corporate Bonds $2 billion
Stocks $500 million
ETFs $500 million
Short-Term UST ETFs $1 billion
Supranationals $250 million
Prefunded Treasury Facility (PTF) None4
Canadian Provincials $100 million
Foreign Sovereign Debt  
   Canada $1.4 billion
   France $1.4 billion
   Germany $1.4 billion
   Japan $1 billion
   United Kingdom $1.4 billion
   Australia $250 million
   Mexico $250 million
   Singapore $150 million
   Sweden $100 million

With respect to all foreign currencies, clearing members are subject to a $250 million USDE limit across the clearing member and affiliates for meeting requirements in a different currency. Offshore Chinese renminbi is capped at $200 million USDE across the clearing member and affiliates. Upon request, CMFs may deposit additional CAD, EUR, GBP, and JPY cash up to a $500 million USDE FX cash mismatch limit. Please contact ClearingHouseFinancial@cmegroup.com for more information. 

2 Letters of Credit are acceptable collateral for performance bond for Base products only and not permitted for House PB requirements, for financial-affiliated clearing members. Letters of Credit are capped at 25% of margin requirement per account class. Clearing Members may be eligible for a limited exemption. See LOC information for more details.

3 London gold bullion is acceptable collateral for performance bond for House positions only

4 The PTF is acceptable to meet performance bond requirements in the House origin for futures and options products in the Base Guaranty Fund. The amount of PTF a clearing member can use to meet House performance bond requirements is limited to 75% of the clearing member's performance bond requirement on the day of acceptance of the PTF by CME as collateral on deposit.

Note FX debt (excluding U.K., Germany, France, and Canada), CA provincials, corporate bonds, stocks, Short Term UST ETFs, ETFs, London physical gold, and COMEX gold warrants are capped at $5bn in aggregate per CMF and affiliates. Agencies, MBS, STRIPS, FX debt, IBRD debt, CA provincials, IEF2, corporate bonds, stocks, Short Term UST ETFs, ETFs, London physical gold and COMEX gold warrants are capped at $7bn in aggregate per CMF and affiliates.