• Performance Bond Requirement Changes-Effective Monday, February 11, 2008

      • To
      • Clearing Member Firms; Chief Financial Officers; Back Office Managers; Margin Managers
      • From
      • CME Clearing
      • #
      • 08-21
      • Notice Date
      • 11 February 2008
      • Effective Date
      • 11 February 2008
    •  
      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. These Performance Bond changes replace those published in Advisory Notice 08-19.
       
       
      SPAN® MINIMUM PERFORMANCE BOND REQUIREMENTS
                             
      CBOT Agricultural Futures Outright Rates
       
      Wheat (CBOT) (W)
       
      Rate Type
       
      Change
      Current
      Initial
      Current
      Maintenance
      New
      Initial
      New
      Maintenance
      Speculative - Old Crop
      Increase
      $3,038
      $2,250
      $4,050
      $3,000
      Hedge/Member - Old Crop
      Increase
      $2,250
      $2,250
      $3,000
      $3,000
      Speculative - New Crop
      N/A
      $3,038
      $2,250
      $3,038
      $2,250
      Hedge/Member - New Crop
      N/A
      $2,250
      $2,250
      $2,250
      $2,250
       
      CBOT Agricultural Futures Intra-Commodity Spread Rates
       
      Wheat (CBOT) (W)
       
      Rate Type
       
      Change
      Current
      Initial
      Current
      Maintenance
      New
      Initial
      New
      Maintenance
      Speculative
      Increase
      $945
      $700
      $1.890
      $1,400
      Hedge/Member
      Increase
      $700
      $700
      $1,400
      $1,400
       
      Please contact the Risk Management Department at 312-648-3888, if you have any questions regarding these Performance Bond Changes.

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