• Performance Bond Requirement Changes - Effective Friday, January 23, 2009

      • To
      • Clearing Member Firms;Chief Financial Officers;Back Office Managers;Margin Managers
      • From
      • CME Clearing
      • #
      • 09-33
      • Notice Date
      • 22 January 2009
      • Effective Date
      • 23 January 2009
    • 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, January 23rd, 2009.
       
       
      COMEX Division Margin Rates on Silver Futures Contracts
       
      Member: Clearing & Non-Clearing (Hedge Margin): New:  $ 6,000             Old: $ 6,400
                                                                 
      Non-Member Customer (Speculative Margin):                       New: $ 8,100             Old: $ 8,640
       
       
      COMEX Division Margin Rates on miNY (QI) Silver Contracts
       
      Member: Clearing & Non-Clearing (Hedge Margin): New: $ 3,000             Old: $ 3,200
                                                                 
      Non-Member Customer (Speculative Margin):                       New: $ 4,050             Old: $ 4,320
       
       
       
       
       
       
      Inter Commodity Spread Margins on Gold and Silver
      Spread
      Ratio
       
      Combined Full Margin
      Clearing Member/Member/Hedge Spread Credit
      Non-Member Spread Credit
      Percentage Credit of Total Outright
      GOLD/SILVER
      2:3
      OLD
       
       
       
       
      $27,804
      $13,902
      $18,768
      50%
       
       
      New
       
       
       
       
      $25,998
      $12,999
      $17,549
      50%
       
       

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