Recently the Board of Directors approved an increase in the minimum dollar capital requirement of clearing members to $2,500,000 from $2,000,000.  This increase is effective September 30, 2003.

The revised capital requirements will require all CME clearing members to maintain adjusted net capital in excess of the greatest of:

1.      $2,500,000 or;

2.      8% of domestic and foreign domiciled customer and 4% of noncustomer (excluding proprietary) risk maintenance margin/performance bond requirements for all domestic and foreign futures and options on futures contracts excluding the risk margin associated with naked long option positions or;

3.      CFTC minimum regulatory capital requirements or;

4.      SEC minimum regulatory capital requirements.

Clearing members are responsible for monitoring their capital and ensuring continued compliance with CME capital requirements.  If you have any questions, please call the Audit Department at (312) 930-3230 or e-mail us at audits@cme.com.