Clearing House Advisory Notices
To | Clearing Members-CFOs-Treasury & BackOffice Mgrs
From | Clearing House Department
Subject | New Collateral Initiatives
Notice Date | 2003-10-31
Notice Number | 03-91
Effective Date |
In conjunction with the first phase of the Common Clearing Link (CCL) with The Board of Trade of the City of Chicago (CBOT), set to begin on November 24th, CME is pleased to announce the launch of its new IEF4® program. Additionally, CME is pleased to announce revised guidelines under which assets pledged under the IEF3 and IEF4 programs are able to satisfy performance bond requirements. Specifically, firms may utilize assets pledged under the IEF3 and IEF4 programs, collectively, at an aggregate level for the firm, to meet: • Up to 25% of a firm’s Core Requirement plus; • Up to 50% of a firm’s Reserve Requirement plus; • Up to 100% of a firm’s Concentration Requirement CME will utilize this combination up to a $500 million limit for the firm, for both origins on a combined basis. This program will begin on Monday, November 10, 2003 and is available to all firms. Complete text of Clearing House Advisory 03-91