Performance Bond (Margin) Advisory Notices
To | Clearing Member Firms, Chief Financial Officers, Back Office Managers, Margin Managers
From | CME Clearing
Subject | Performance Bond Requirement Changes -- Effective Monday, November 17th, 2008
Notice Date | 2008-11-13
Notice Number | 08-344
Effective Date | 2008-11-17
To receive advanced notification of Performance Bond (margin) changes, through our free automated mailing list, go to: http://www.cmegroup.com/newsletter/web2lead/web2sf-old.html and subscribe to the Performance Bond Rates Advisory Notices listserver. 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, November 17 th, 2008. NEW TIER STRUCTURE AND MARGIN RATE CHANGES FOR THE CLEARPORT BRENT CLENDAR SWAP FUTURES (CY), BRENT BULLET SWAP FUTURES (BB) AND BRENT CRUDE OIL-LAST DAY FUTURES (BZ) Note: The revised margins are in bold CME Clearing House Outright (Scan) Margins for CY, BB and BZ
Contract | Clearing Member / Maintenance Margin | Member Customer Initial Margin | Non-Member Customer Initial Margin
| New | Old | New | Old | New | Old
CY | $8,500 | $9,500 | $9,350 | $10,450 | $11,475 | $12,825
BB | $8,500 | $9,500 | $9,350 | $10,450 | $11,475 | $12,825
BZ | $8,500 | $9,500 | $9,350 | $10,450 | $11,475 | $12,825
For the full-text of this advisory, please click here.