exchange margins effective 12/3/07

O

osorico

ES ... 4500/3600
ER ... 5250/4200
YM ... 3503/2802
NQ ... no change, 2500/2000

http://www.cme.com/html.wrap/wrappedpages/clearing/pbrates/PBISOutrightEQ.htm?h=2
http://www.cme.com/html.wrap/wrappedpages/clearing/pbrates/PBISOutrightCBT-EQ.htm?h=2

Seems like a good time to remind, eCBOT instruments will begin trading on GLOBEX by the end of January 2008. (January 8, 2008 seems to ring a bell regarding YM and similar, but I can't find written confirm of such). Margins up and next, quote fees and exchange fees upped, at least for the migrated products.

Happy Holidays!
Osorico :)

As an aside, I think this latest round of exchange margin increases will spur the $500 intraday margin houses to increase to $750-$1000 perhaps. jmho
 
Quote from osorico:

YM ... 3503/2802
More...

That is the current overnight margin with IB. Are you saying that IB might increase the Intraday margin from 1751/1401 to 3503/2802?
 
Quote from forex-forex:

That is the current overnight margin with IB. Are you saying that IB might increase the Intraday from 1751/1401 to 3503/2802?
More...

These are exchange MINIMUM (overnight) margins which became effective at the close of business on 11/30/07. IB (and any other firm) can do whatever they want for intraday. For overnight, exchange minimum is the MINIMUM requirement.
 
<i>"These are exchange MINIMUM (overnight) margins which became effective at the close of business on 11/30/07. IB (and any other firm) can do whatever they want for intraday. For overnight, exchange minimum is the MINIMUM requirement."</i>

I would imagine most brokers will leave day-trade margins alone. If we haven't heard from our respective brokers by now on this matter, we probably won't.

Day-trade margin at $500 per contract or $1,000 per contract, etc is pretty much the same thing. High risk to an extreme market move. Anyone who traded thru a surprise rate-cut event has seen how rapidly one's account could go to zero or negative if levered to the hilt in eminis.

There were times when I would pyramid = average up a position to be deeply margined like that, and catching a directional push (especially late afternoon moves) will ring the register loudly. However, I don't do that during roiled times like this. Hold too deep a margined position short and have the Fed cut rates... devastating blow to an account.
 
Quote from osorico:
...
As an aside, I think this latest round of exchange margin increases will spur the $500 intraday margin houses to increase to $750-$1000 perhaps. jmho [/B]
More...

As expected... Received this email (partial) today.

Code: 
I want to let you know the daytime margin rates for
the eMini Russell 2000 and the eMini S&P have been increased.
Below is a list of all commodities with changes in margin requirements: 

Initial Daytime 
$3105 $389 Canadian Dollar 
$7058 $883 Crude Oil 
$878 $110 Euro Dollar 
$3375 $422 100 oz Gold 
$7425 $929 RBOB Gasoline 
$26250 $3282 Rusell 2000 
$22500 $2813 S&P 500 
$945 $119 2YR T Note 
$945 $119 5 YR T Note 
$1340 $168 10 YR T Note 
$3544 $443 eMini Crude Oil 
$4500 $563 eMini S&P 
$4375 $547 eMini Russel 1000 
$5250 $657 eMini Russel 2000 
$2500 $313 eMini Nasdaq 100 
$3038 $380 miNY Gasoline (tier1) 

We are also in the process of changing our website.
We will still have the same information, but with a new look.
The new website will allow for timely updates including changes in margin requirements.
The website should be unveiled later this month.

For those wondering, this is from JRFutures, an IB for PFG.

Osorico :)
 
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