• Performance Bond Requirement Changes - Effective Friday October 3, 2008

      • To
      • Clearing Member Firms;Chief Financial Officers;Back Office Managers;Margin Managers
      • From
      • CME Clearing
      • #
      • 08-258
      • Notice Date
      • 01 October 2008
      • Effective Date
      • 03 October 2008
    • 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 Friday, October 3rd, 2008.
       
      MARGIN RATE CHANGES FOR Western Rail Powder River Basin (PRB) Coal Swap Futures (QP) and Eastern Rail CSX Coal Swap Futures (QX)
       
       
       Note: The revised margins are in bold
       
       
      Outright (Scan) Margins For QP and QX
      Tiers
      Clearing Member / Maintenance Margin
      Member Customer Initial Margin
      Non-Member Customer Initial Margin
       
      New
      Old
      New
      Old
      New
      Old
      QP
      $2,500
      $1,500
      $2,750
      $1,650
      $3,375
      $2,025
      QX
      $18,000
      $20,000
      $19,800
      $22,000
      $24,300
      $27,000
       
       
       

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