• Customer Gross Margining Position Reconciliation Process and Report

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 12-563
      • Notice Date
      • 26 December 2012
      • Effective Date
      • 14 January 2013
    • On Monday, January 14, 2013, pursuant to CFTC regulations, CME Clearing will implement Customer Gross Margining (“CGM”).  This advisory is being published to provide clearing firms with more details on how the new margining process will reconcile positions as determined in the clearing system, versus positions as reported by the clearing firms as part of the CGM datafile submissions. 


      The details of the reconciliation process are important because if the positions held in Clearing differ from what is reported by the firm through CGM, we calculate a margin requirement for these “excess margin” positions, and include this in the total requirement charged to the clearing firm in the customer origin.



      For more information please contact CME Clearing Client Services at 312-207-2525, or CCS@cmegroup.com.




      For the full text of the advisory, click here