• Performance Bond Requirement Changes - Effective Monday, October 20th, 2008

      • To
      • Clearing Member Firms;Chief Financial Officers;Back Office Managers;Margin Managers
      • From
      • CME Clearing
      • #
      • 08-279
      • Notice Date
      • 14 October 2008
      • Effective Date
      • 20 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 Monday, October 20th, 2008.
       
      NEW MARGIN RATES AND TIERS FOR U.S. Midwest Domestic Hot-Rolled Coil Steel Contracts (HR)
       
      Note: The revised margins are in bold
       
      Outright (Scan) Spread Tiers for HR
      Tiers
      Months
      1
      All Months
       
       
      Outright (Scan) Margin on HR
      Commodity
      Clearing Member / Maintenance Margin
      Member Customer Initial Margin
      Non-Member Initial Margin
       
      New
      New
      New
      HR
      950
      1045
      1283
       
       
      Intra-Commodity Spread Tiers for HR
      Tiers
      Months
      1
      All Months
       
       
       
       
       
       
      Intra-Commodity Spread Margins on HR
      Commodity
      Clearing Member / Maintenance Margin
      Member Customer Initial Margin
      Non-Member Initial Margin
       
      New
      New
      New
      HR
      $100
      $110
      $135
       
       
       

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