CME lowers gold, silver, copper, natgas margins

Thu Nov 15, 2012 6:29pm EST

Nov 15 (Reuters) - The CME Group on Thursday lowered margins for natural gas, gold,
silver, copper, lean hog and live cattle futures, effective after close of business on Tuesday,
Nov. 20.
    CME, the biggest operator of U.S. futures exchanges, cut initial margins on COMEX 100 Gold
Futures 18.5 percent to $7,425 a contract from $9,113, but left maintenance margins for the
yellow metal unchanged.
    The exchange operator trimmed maintenance margins to trade silver to $11,000 per contract,
from $12,500, and initial margins to $12,100 from $16,875 per contract.
    Maintenance margins for copper were lowered by 12.5 percent to $3,500 per contract from
$4,000, while maintenance margins to trade natural gas Henry Hub futures as well as NYMEX
natural gas futures were clipped 10 percent each.
    Among agricultural commodities, maintenance margins for lean hogs and live cattle futures
were pared 16 percent and 16.7 percent, respectively. 
    To see the complete list of margin changes by CME click on:Below is a table of the commodities with their new maintenance and initial margins in dollars:
    
     LEAN HOG FUTURES (LN)       Current Initial  Maintenance  New Initial Maintenance  
 LN Spec                                  1,688     1,250           1,418    1,050
 LN Hedge/Member                          1,250     1,250           1,050     1,050
 LIVE CATTLE FUTURES (LC)
 LC Spec                                  1,620     1,200           1,350     1,000
 LC Hedge/Member                          1,200     1,200           1,000     1,000
     COMEX 100 GOLD FUTURES (GC)
 GC Spec                                  9,113     6,750           7,425     6,750
 GC Hedge/Member                          6,750     6,750           6,750     6,750
     COMEX 5000 SILVER FUTURES (SI)
 SI Spec Mths 1-4                         16,875    12,500          12,100    11,000
 SI Hedge/Member Mths 1-4                 12,500    12,500          11,000    11,000
     COMEX COPPER FUTURES (HG)
 HG Spec Mths 1-4                          5,400     4,000           3,850     3,500
 HG Hedge/Member Mths 1-4                  4,000     4,000           3,500     3,500
     NATURAL GAS HENRY HUB FUTURE (NG)
 NG Spec Mth 1                             2,750     2,500           2,475     2,250
 NG Hedge/Member Mth 1                     2,500     2,500           2,250     2,250
 NG Spec Mth 2                             2,640     2,400           2,365     2,150
 NG Hedge/Member Mth 2                     2,400     2,400           2,150     2,150
     NYMEX NATURAL GAS FUTURES (HP)
 HP Spec Mth 1                             2,750     2,500           2,475     2,250
 HP Hedge/Member Mth 1                     2,500     2,500           2,250     2,250
 HP Spec Mth 2                             2,640     2,400           2,365     2,150
 HP Hedge/Member Mth 2                     2,400     2,400           2,150     2,150
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