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
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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.