CME Group will increase margin requirements to trade futures on the Swiss franc, The Wall Street Journal reports. The change, effective from September 7, comes after the Swiss National Bank intervened to weaken the value of the currency.
An initial performance bond of $6,750 per contract will be charged from speculators by CME’s clearing house, up 20 percent from the existing fee. Hedgers and CME members will pay $5,000 per contract, also up 20 percent. Initial margins will rise 33 percent for Swiss franc futures by September 9. Speculators will give $8,100 per contract, while hedgers and CME members will pay $6,000.
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