09/17/2008
As per the normal review of market volatility to ensure adequate collateral coverage, the Chicago Mercantile Exchange Inc., Clearing House Risk Management staff approved the performance bond requirements for the following products listed below. The rates are effective at the close of business on Thursday, September 18th, 2008.
MARGIN RATE FOR GOLD FUTURES (GC), COMEX miNY GOLD (QO) AND COMEX ASIAN GOLD CONTRACTS (QS).
Note: The revised margins are in bold
COMEX Division Margins on Gold Futures Contracts
| Member: Clearing and Non-Clearing (Hedge Margin) | New: $5,500 |
Old: $3,750 |
| Non-Member Customer (Speculative Margin): | New: $7,425 |
Old: $5,063 |
COMEX Division Margins on miNY (QO) Gold Futures
Contracts
Inter - Exchange Spread Credit on Gold vs. Platinum
| Member: Clearing and Non-Clearing (Hedge Margin) | New: $2,750 |
Old: $2,000 |
| Non-Member Customer (Speculative Margin): | New: $3,713 |
Old: $2,700 |
COMEX Division Margins on Asian Gold Futures Contracts
| Member: Clearing and Non-Clearing (Hedge Margin) | New: $1,768 |
Old: $1,206 |
| Non-Member Customer (Speculative Margin): | New: $2,387 |
Old: $1,628 |
Inter - Exchange Spread Credit on Gold vs. Platinum
Spread Credit |
||||||||
Spread |
Ratio |
Combined Full Margin |
Clearing Member/Member/Hedge Spread Charge |
Non-Member Spread Credit |
Gold Leg |
Platinum Leg |
Combined |
|
Gold/Platinum |
1:02 |
Old |
$15,750 |
$550 |
$743 |
$3,200 |
$11,450 |
$14,650 |
New |
$17,500 |
$550 |
$743 |
$4,950 |
$11,450 |
$16,400 |
||
Inter - Commodity Spread Credit on Gold vs. Silver
| Spread | Ratio |
Combined Full Margin |
Clearing Member/Member/Hedge Spread Credit |
Non-Member Spread Credit |
Percentage Credit of Total Outright |
|
| Gold/Silver | 2:03 |
Old |
$22,500 |
$11,250 |
$15,188 |
50% |
| New |
$26,000 |
$13,000 |
$17,550 |
50% |