Performance Bond (Margin) Advisory Notices
To | Clearing Member Firms; Chief Financial Officers; Back Office Managers; Margin Managers
From | CME Clearing
Subject | Performance Bond Requirements-Effective Monday, February 11 and Tuesday, February 12, 2008
Notice Date | 2008-02-08
Notice Number | 08-19
Effective Date | 2008-02-11
To receive advanced notification of Performance Bond (margin) changes, through our free automated mailing list, go to: https:// www.cme-ch.com/listserve/addlistserve.asp 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., Performance Bond staff approved the performance bond requirements for the following products listed below. These margins are effective close of business on Monday, February 11, 2008. SPAN ® MINIMUM PERFORMANCE BOND REQUIREMENTS CBOT Agricultural Futures Outright Rates Wheat (CBOT) (W)
Rate Type | Change | Current Initial | Current Maintenance | New Initial | New Maintenance
Spec | Increase | $3,038 | $2,250 | $4,050 | $3,000
Hedge/Member | Increase | $2,250 | $2,250 | $3,000 | $3,000
Mini-Wheat (CBOT) (YW)
Rate Type | Change | Current Initial | Current Maintenance | New Initial | New Maintenance
Spec | Increase | $608 | $450 | $810 | $600
Hedge/Member | Increase | $450 | $450 | $600 | $600
CBOT Agricultural Futures Intra-Commodity Spread Rates Wheat (CBOT) (W) - Wheat
Rate Type | Change | Current Initial | Current Maintenance | New Initial | New Maintenance
Spec | Increase | $945 | $700 | $1,890 | $1,400
Hedge/Member | Increase | $700 | $700 | $1,400 | $1,400
As per the normal review of market volatility to ensure adequate collateral coverage, the Chicago Mercantile Exchange Inc., Performance Bond staff approved the performance bond requirements for the following products listed below. These margins are effective close of business on Tuesday, February 12, 2008. SPAN ® MINIMUM PERFORMANCE BOND REQUIREMENTS CBOT Agricultural Futures Outright Rates Wheat (CBOT) (W)
Rate Type | Change | Current Initial | Current Maintenance | New Initial | New Maintenance
Spec | Increase | $4,050 | $3,000 | $6,075 | $4,500
Hedge/Member | Increase | $3,000 | $3,000 | $4,500 | $4,500
Mini-Wheat (CBOT) (YW)
Rate Type | Change | Current Initial | Current Maintenance | New Initial | New Maintenance
Spec | Increase | $810 | $600 | $1,215 | $900
Hedge/Member | Increase | $600 | $600 | $900 | $900
Please contact the Risk Management Department at 312-648-3888, if you have any questions regarding these Performance Bond Changes.