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-- Posted 15 May, 2006 | |
CBOT Margin Changes Effective Close of Business May 16, 2006 I. Changes to Margins on CBOT Futures | From | To | | Initial/Maintenance/Hedge | Initial/Maintenance/Hedge | | Silver | | | | Mini-sized Silver | | | | Wheat | | | | Mini-sized Wheat | | | | Oats | | | | Soybean Meal | | | | Soybean Oil | | | | Soybeans | | | | Mini-sized Soybeans | | | | Corn | | | | Mini-sized Corn | | | | Dow Jones AIG Commodity Index | | | | 5 Yr. Treasury Notes | | | | 2 Yr. Treasury Notes | | | | Theoretical Futures on Soybean Crush Option | | |
II. Changes to Intra-Market Spread Margins Spreads Agricultural and Metal Groups | From | To | Ratio | Spread | Spread Credit % | Initial/Maintenance/Hedge | Spread Credit % | Initial/Maintenance/Hedge | 1:1 | Gold vs. Silver | 70% | $2,373/$1,758/$1,758 | 45% | | 1:5 | Gold vs. Mini-sized Silver | 70% | $2,373/$1,758/$1,758 | 45% | $4,351/$3,223/$3,223 | 3:1 | Mini-sized Gold vs. Silver | 70% | $2,373/$1,758/$1,758 | 45% | | 3:5 | Mini-sized Gold vs. Mini-sized Silver | 70% | $2,373/$1,758/$1,758 | 45% | $4,351/$3,223/$3,223 | 1:1 | Soybeans vs. Soybean Oil | 45% | $1,003/$743/$743 | 55% | | 5:1 | Mini-sized Soybeans vs. Soybean Oil | 45% | $1,003/$743/$743 | 55% | $821/$608/$608 |
III. Changes to Inter-Exchange Spreads CME Spreads Agricultural | From | To | | Ratio | Spread | Spread Credit % | Spread Credit % | 1:1710 | 100 oz. Gold vs. Trakrs | 90% | 80% | 1:570 | Mini-sized Gold vs. Trakrs | 90% | 80% |
In setting margins levels, the Chicago Board of Trade Margin Committee along with the CME Clearing House monitors current and historical price movements covering short-term, intermediate and longer-term data using statistical and parametric and non-parametric analysis. Futures maintenance margin levels are typically set to cover at least the maximum one-day price move on 95% to 99% of the days during these time periods. NYMEX Margin Changes NEW YORK, N.Y., May 12, 2006 — The New York Mercantile Exchange, Inc. today announced margin changes for its gold, copper and palladium futures contracts, effective at the close of business on Monday.
Margins for the gold futures contract will increase to $3,500 from $2,750 for clearing and non-clearing members and to $4,725 from $3,713 for customers.
Margins for the May 2006 to December 2006 copper futures contracts will increase to $6,500 from $6,000 for clearing and non–clearing members and to $8,775 from $8,100 for customers. Margins for all other months of the copper futures contracts will increase to $5,000 from $4,000 for clearing and non–clearing members and to $6,750 from $5,400 for customers.
Margins for the palladium futures contract will increase to $2,500 from $2,000 for clearing members, to $2,750 from $2,200 for members, and to $3,375 from $2,700 for customers. # # #
Forward Looking and Cautionary Statements
This press release may contain forward–looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results. Forward–looking statements involve a number of assumptions, risks, and uncertainties, any of which may cause actual results to differ materially from the anticipated, estimated, or projected results referenced in forward–looking statements. In particular, the forward–looking statements of NYMEX Holdings, Inc., and its subsidiaries are subject to the following risks and uncertainties: the success and timing of new futures contracts and products; changes in political, economic, or industry conditions; the unfavorable resolution of material legal proceedings; the impact and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions, including without limitation, actions by the Commodity Futures Trading Commission; and terrorist activities and international hostilities, which may affect the general economy as well as oil and other commodity markets. We assume no obligation to update or supplement our forward–looking statements.
-- Posted 15 May, 2006 | |
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