NYMEX Sets Margins for Aluminum Futures

The New York Mercantile Exchange has established initial and spread margin rates for its aluminum futures contract to be launched on Friday, May 14. The initial margin rates for clearing members, members, and hedgers will be USD800 per contract, and the rate for non-member speculators will be USD1,080 per contract. The inter-month spread rate for clearing members will be a flat rate of USD50. Members and hedgers will be charged the flat rate of USD50 or USD10 per spread and USD5 per month for the length of the spread. Inter-month spreads for non-member speculators will be either a flat rate of USD68; or USD14 per spread and USD7 per month for the length of the spread.