• Performance Bond Requirement Changes - NYMEX Crude Oil Tier Changes - Effective Tuesday, October 20, 2009

      • To
      • Clearing Member Firms; Chief Financial Officers; Back Office Managers; Margin Managers
      • From
      • CME Clearing
      • #
      • 09-454
      • Notice Date
      • 19 October 2009
      • Effective Date
      • 20 October 2009
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      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 changes are effective at the close of business on Tuesday, Oct 20th, 2009.
       
      TIER CHANGES FOR CRUDE OIL FUTURES CONTRACT (CL), FINANCIAL CRUDE OIL CONTRACT (WS), CRUDE OIL CALENDAR SWAP (CS), NYMEX miNY CRUDE OIL CONTRACT (QM), and NYMEX Crude Oil Minute-Marker Future (6C)
       

      Note: The revisions are in bold.

      CL/WS/CS/6C Tiers

      Tiers

      New

      Old

      1

      1st Nearby

      1st Nearby

      2

      2nd – 4th Nearby

      2nd – 4th Nearby

      3

      5th – 13th  Nearby

      5th – 14th  Nearby

      4

      14th – 25th  Nearby

      15th – 26th  Nearby

      5

      26th – 49th  Nearby

      27th – 50th  Nearby

      6

      Greater than the 49th Nearby

      Greater than the 50th Nearby

       

      For the PDF version of this advisory, please click here.

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