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, March 28, 2007
| One
Outright Position |
| $160 |
135% |
$216 |
| $80 |
135% |
$108 |
| $100 |
135% |
$135 |
|
| |
| Inter-Crop
Year Spread Margin* |
| $80 |
135% |
$108 |
| $60 |
135% |
$81 |
| $75 |
135% |
$101 |
|
| |
|
| Effective Friday,
March 2, 2007 to Tuesday, March 27, 2007 |
|
|
| One
Outright Position |
| $160 |
135% |
$216 |
| $80 |
135% |
$108 |
| $100 |
135% |
$135 |
|
| |
| Inter-Crop
Year Spread Margin* |
| $80 |
135% |
$108 |
| $75 |
135% |
$101 |
| $75 |
135% |
$101 |
|
| *Posted inter-crop year
spread margins include both sides of the spread. |
| Note: Within crop-year
spreads are not margined. |
