CME Group Raises Comex Gold Margins By 21.5%, Silver Margins By 15.6%

又係火上加油.............你好野 (Kitco News) - The CME Group is raising the margins needed to trade Comex gold and silver futures are being increased by 21.5% and 15.6%, respectively, and the change will take effect after the close of business on Monday, the exchange said late Friday in a press release. The exchange is also raising copper futures margins by 17.6%. The move by the CME Group to raise the margin needed – also known as performance bonds – to trade gold, silver and copper futures on the Comex division of the New York Mercantile Exchange comes as prices for the metals plunged during the past two days as part of a sell off in financial markets in general. The CME Group is the parent company for the Comex and Nymex. The CME Group raised margins in other markets on Thursday and on Friday it also announced higher margins for long-term U.S. Treasury bond futures. The changes are as follows: Comex 100 ounce gold futures and 100-oz gold trade at settlement Trader Type Current Initial Margin Current Maintenance New Initial New Maintenance Speculator $9,450 $7,000 $11,475 $8,500 Hedger/Member $7,000 $7,000   $8,500 $8,500   Comex MiNY Gold Futures Trader Type Current Initial Margin Current Maintenance New Initial New Maintenance Speculator $4,725 $3,500   $5,738   $4,250 Hedger/Member $3,500 $3,500 $4,250 $4,250 10 oz Troy Gold Futures Trader Type Current Initial Margin Current Maintenance New Initial New Maintenance Speculator $945 $700 $1,148   $850 Hedger/Member $700 $700 $850 $850 Comex 5000 silver futures and silver futures trade at settlement Trader Type Current Initial Margin Current Maintenance New Initial New Maintenance Speculator $21,600 $16,000 $24,975 $18,500 Hedger/Member $16,000 $16,000 $18,500 $18,500 Comex MiNY silver futures Trader Type Current Initial Margin Current Maintenance New Initial New Maintenance Speculator $10,800 $8,000 $12,488 $9,250 Hedger/Member $8,000 $8,000 $9,250 $9,250 E-Mini silver futures Trader Type Current Initial Margin Current Maintenance New Initial New Maintenance Speculator $4,230 $3,200 $4,995   $3,700   Hedger/Member $3,200 $3,200 $3,700   $3,700   Comex copper futures Trader Type Current Initial Margin Current Maintenance New Initial New Maintenance Speculator $5,738 $4,250 $6,750 $5,000 Hedger/Member $4,250 $4,250 $5,000 $5,000 E-Mini copper futures Trader Type Current Initial Margin Current Maintenance New Initial New Maintenance Speculator $2,869 $2,125 $3,375 $2,500 Hedger/Member $2,125 $2,125 $2,500 $2,500 By Debbie Carlson of Kitco News dcarlson@kitco.com <<Back to more Kitco exclusive news