Notice to Members
Notice No. 528
10/17/2008
Performance Bond Requirement Changes – SI and 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 Monday, October 20th, 2008.

COMEX Division Margins on Silver Futures Contracts

Member: Clearing & Non-Clearing (Hedge Margin):
New: $ 6,400
Old: $6,000
Non-Member Customer (Speculative Margin):
New: $8,640
Old: $8,100

COMEX Division Margins on miNY (QI) Silver Futures Contracts

Member: Clearing & Non-Clearing (Hedge Margin):
New: $3,200
Old: $3,000
Non-Member Customer (Speculative Margin):
New: $4,320
Old: $4,050


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
$29,000
$14,500
$19,575
50%
New
$30,200
$15,100
$20,385
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