CHICAGO, Nov. 5, 2011 /PRNewswire/ -- CME Group today is
clarifying its notice to clearing firms regarding margins. In
light of the issues customers transferring out of MF Global are
facing, while still maintaining appropriate risk management
protections for the market, CME Clearing is setting the "initial"
margin upcharge to zero. This upcharge is normally applied to
customer accounts when they are receiving a margin call.
The intention and effect of these changes are to decrease the
size of any margin calls resulting from the bulk transfer of MF
Global customers to new clearing members not to increase them.
This is a short term accommodation to maintain market integrity
and provide temporary relief to customers whose accounts have been
disrupted by this event.
We apologize for any confusion our initial advisory may have
created.
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers
together through its CME Globex® electronic trading platform and
its trading facilities in New York
and Chicago. CME Group also operates CME Clearing, one of the
world's leading central counterparty clearing providers, which
offers clearing and settlement services for exchange-traded
contracts, as well as for over-the-counter derivatives transactions
through CME ClearPort®. These products and services ensure that
businesses everywhere can substantially mitigate counterparty
credit risk in both listed and over-the-counter derivatives
markets.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME,
Globex and Chicago Mercantile Exchange are trademarks of Chicago
Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the
Board of Trade of the City of
Chicago, Inc. NYMEX, New York Mercantile Exchange and
ClearPort are registered trademarks of New York Mercantile
Exchange, Inc. COMEX is a trademark of Commodity Exchange,
Inc. All other trademarks are the property of their
respective owners. Further information about CME Group (NASDAQ:
CME) and its products can be found at www.cmegroup.com.
CME-G
SOURCE CME Group