Nymex Suspends Palladium Futures Margin Hike For Aug. 28
NEW YORK (Dow Jones)--The New York Mercantile Exchange announced Friday that the margin increases on its palladium futures contract orginally scheduled for Aug. 28 have been suspended and the current rates wil remain in effect until further notice.
As of the close of business on Thursday, Aug. 24, margins on the August and September contracts were raised to $125,000 from $100,000 for clearing members, to $137,500 from $110,000 for members, and to $168,750 from $135,000 for customers.
Rates were also raised on spreads involving the August or September contracts to $110,250 from $85,250 for clearing members, to $121,275 from $93,775 for members, and to $148,838 from $115,088 for customers. These rates will also remain in effect until further notice.
The Exchange had originally announced that, as of the close of business Monday, Aug. 28, margins on the September contract would be increased to $150,000 for clearing members, to $165,000 for members, and to $202,500 for customers. It also had planned to raise rates on spreads involving the September contract to $135,250 for clearing members, to $148,775 for members, and to $182,588 for customers. |
