not too surprising CME raised the contract purchases Friiday
CME Group Hiking Margin Requirements For Gold, Platinum Futures
By Kitco NewsFriday June 21, 2013 7:12 AM
(Kitco News) - Margin requirements for gold and platinum futures will rise after the close of business on Friday, CME Group has announced.
Margins, which act as collateral on futures contracts, were also increased for some interest-rate products but were lowered for electricity-related products. CME Group said the changes are the result of “the normal review of market volatility to ensure adequate collateral coverage.”
The “initial” margin to open speculative positions in the 100-ounce gold contract on the Comex division of the New York Mercantile Exchange will rise to $8,800 from $7,040. The “maintenance” margin for existing speculative positions, as well as all hedge positions, will rise to $8,000 from $6,400, CME Group said.
Margins will also increase for other gold products, including the 10-ounce contract and miNY gold futures.
Meanwhile, the initial speculative margin for Nymex platinum futures will increase to $3,465 from $3,080. The maintenance margin for speculators, plus all hedge positions, will rise to $3,150 from $2,800.
The full announcement from CME Group can be seen at the following link: http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv13-287.pdf.
By Allen Sykora; asykora@kitco.com
Margins, which act as collateral on futures contracts, were also increased for some interest-rate products but were lowered for electricity-related products. CME Group said the changes are the result of “the normal review of market volatility to ensure adequate collateral coverage.”
The “initial” margin to open speculative positions in the 100-ounce gold contract on the Comex division of the New York Mercantile Exchange will rise to $8,800 from $7,040. The “maintenance” margin for existing speculative positions, as well as all hedge positions, will rise to $8,000 from $6,400, CME Group said.
Margins will also increase for other gold products, including the 10-ounce contract and miNY gold futures.
Meanwhile, the initial speculative margin for Nymex platinum futures will increase to $3,465 from $3,080. The maintenance margin for speculators, plus all hedge positions, will rise to $3,150 from $2,800.
The full announcement from CME Group can be seen at the following link: http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv13-287.pdf.
By Allen Sykora; asykora@kitco.com
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