• Performance Bond Requirement Changes – Effective Wednesday, October 1st, 2008

      • To
      • Clearing Member Firms;Chief Financial Officers;Back Office Managers;Margin Managers
      • From
      • CME Clearing
      • #
      • 08-255
      • Notice Date
      • 01 October 2008
      • Effective Date
      • 01 October 2008
    • DATE: Wednesday, October 1, 2008 
       
      NOTICE # : 08-255
       
      SUBJECT: Performance Bond Requirement Changes – Effective Wednesday, October 1st, 2008
       
      FOR THE FULL TEXT OF THIS ADVISORY :
       
       This advisory also posted as NYMEX Advisory # 08-497 
       
      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 Wednesday, October 1st, 2008.
       
       
      TIER CHANGES FOR NEW YORK HARBOR GASOLINE BLENDSTOCK FUTURES CONTRACT (RB), RBOB GASOLINE – FINANCIAL CONTRACT (RT), RBOB CALENDAR SWAP (RL) AND NYMEX RBOB miNY GASOLINE CONTRACT (QU)
       
       
      Note: The revised margins are in bold.
       
       
      RB/RL/RT/QU Intra-Commodity Spread and Scan Tiers
      Tiers
      New
      Old
      1
      1st Nearby
      1st Nearby
      2
      2nd thru 6th Nearby
      2nd thru 3rd Nearby
      3
      7th thru 12th Nearby
      4th thru 9th  Nearby
      4
      Greater than 12th Nearby
      Greater than 9th Nearby
       

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