Winnipeg Commodity Exchange FCM Customer Initial Margins

The following initial and maintenance margins apply to non-participant speculative accounts held with FCMs. Non-participants holding hedge based positions may apply for a hedge exemption under Rule 4E.08. The minimum margin level under the hedge exemption is the clearinghouse margin.

Effective Wednesday, April 11, 2007

One Outright Position
Commodity	Maintenance Margin (Clearinghouse Margin)	Initial Margin Mark up Percentage	Initial Margin
Canola	$160	135%	$216
Feed Wheat	$80	135%	$108
Western Barley	$85	135%	$115

 

Inter-Crop Year Spread Margin*
Commodity	Maintenance Margin (Clearinghouse Margin)	Initial Margin Mark up Percentage	Initial Margin
Canola	$80	135%	$108
Feed Wheat	$60	135%	$81
Western Barley	$75	135%	$101

  Effective Wednesday, March 28, 2007 to Tuesday, April 10, 2007

One Outright Position
Commodity	Maintenance Margin (Clearinghouse Margin)	Initial Margin Mark up Percentage	Initial Margin
Canola	$160	135%	$216
Feed Wheat	$80	135%	$108
Western Barley	$100	135%	$135

 

Inter-Crop Year Spread Margin*
Commodity	Maintenance Margin (Clearinghouse Margin)	Initial Margin Mark up Percentage	Initial Margin
Canola	$80	135%	$108
Feed Wheat	$60	135%	$81
Western Barley	$75	135%	$101

*Posted inter-crop year spread margins include both sides of the spread. Note: Within crop-year spreads are not margined.