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The New York Mercantile Exchange, Inc. today announced margins, position accountability, expiring month position limits and reporting levels for its new Singapore 380cst fuel oil futures contract that will be offered for trading on CME Globex beginning on September 24 for trade date September 25.
Margins will be $1,400 for clearing members, $1,540 for members, and $1,890 for customers. Intra-commodity spread margins will be $240 for clearing members, $264 for members, and $324 for customers.
The position accountability level will be 7,000 contracts for any single month or all months. For the last three days of the expiring month, contracts have a 1,000-contract position limit. Clearing members must identify customers with a position of 25 or more contracts to the Exchange.
