Notice to Members
Notice No. 76
02/20/2008
Margin Rate and Inter-Exchange Margin Changes for High Grade Copper Futures (HG) and Copper miNY Futures Contract (QC)

Effective Date:           Thursday, February 21, 2008 (close of business)

 

Futures Contracts:     High Grade Copper Futures

 

Contract Months:       All Months

 

Rate Change:

COMEX Division Margin Rates on High Grade Copper Futures Contracts (HG)

 

Member: Clearing & Non-Clearing (Hedge Margin):                                         New:  $ 5,750             Old: $ 5,250

                                                           

Non-Member Customer (Speculative Margin):                                                  New:  $ 7,763              Old: $ 7,088    

 

 

COMEX Division Margin Rates on miNY Copper Contracts (QC)

 

Member: Clearing & Non-Clearing (Hedge Margin):                                         New:  $ 2,875             Old: $ 2,625

                                                           

Non-Member Customer (Speculative Margin):                                                  New:  $ 3,882             Old: $ 3,544

 

 

 


Inter-Exchange Spread Margins on Copper (HG)

Spread

Ratio

 

Clearing Member/Member/Hedge

Non-Member

COMEX Full Margin

COMEX Spread Charge

COMEX Spread Credit

COMEX Full Margin

COMEX Spread Charge

COMEX Spread Credit

COMEX/LME

1:1

Old

$5250

$4,950

$300

$7,088

$6,683

$405

New

$5,750

$ 5,450

$300

$7,763

$7,358

$405

 This notice supersedes all previous notices regarding outright margin rates for the COMEX High Grade Copper Future Contract and COMEX miNY Copper Contract.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com