Notice to Members
Notice No. 485
09/18/2008
Performance Bond Requirement Changes (SI, QI)
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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 Friday, September 19th, 2008.

COMEX Division Margins on Silver Futures Contracts

Member: Clearing & Non-Clearing (Hedge Margin):
New: $ 6,000
Old: $5,000
Non-Member Customer (Speculative Margin):
New: $8,100
Old: $6,750

COMEX Division Margins on miNY (QI) Silver Futures Contracts

Member: Clearing & Non-Clearing (Hedge Margin):
New: $3,000
Old: $2,500
Non-Member Customer (Speculative Margin):
New: $4,050
Old: $3,375


Inter-Commodity Spread Credit on Gold and Silver
Spread
Ratio
Combined Full Margin
Clearing Member/Member/Hedge Spread Credit
Non-Member Spread Credit
Percentage Credit of Total Outright
Gold/Silver
2:3
Old
$26,000
$13,000
$17,550
50%
New
$29,000
$14,500
$19,575
50%

This notice supersedes all previous notices regarding outright margin rates for the COMEX Silver Future Contracts.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com