Futures Contract Margins


Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Currencies
Swiss Franc* 125,000 SF 1,890 1,400 400 7:20-2:00 1 PT = $12.50 1 PT = $12.50
Japanese Yen* 12,500,000 JY 2,700 2,000 600 7:20-2:00 1 PT = $12.50 1 PT = $12.50
E-Mini Japanese Yen* 6,250,000 JY 1,350 1,000 300 2:15-2:00 1 PT = $6.25 1 PT = $6.25
British Pound* 62,500 BP 1,755 1,300 300 7:20-2:00 1 PT = $6.25 2 PT = $12.50
Canadian Dollar* 100,000 1,080 800 200 7:20-2:00 1 PT = $10.00 1 PT = $10.00
Australian Dollar* 100,000 AD 1,148 850 250 7:20-2:00 1 PT = $10.00 1 PT = $10.00
Euro Currency* 125,000 ECU 2,835 2,100 400 7:20-2:00 1 PT = $12.50 1 PT = $12.50
E-Mini Euro Currency** 62,500 ECU 1,418 1,050 200 2:15-2:00 1 PT = $6.25 1 PT = $6.25
Mexican Peso (New)* 500,000 MP 1,875 1,500 625 7:20-2:00 1 PT = $5.00 2.5 PT = $12.50
Brazilian Real* 100,000 BR 3,500 2,500 1,260 7:20-2:00 1 PT = $10.00 1 PT = $10.00
Russian Ruble* 2,500,000 Rubles 3,000 2,000 2,000 7:20-2:00 1 PT = $25.00 1 PT = $25.00
US Dollar Index*** 1,000 x USDX 1,463 1,100 399 7:05-2:00 1 PT = $10.00 1 PT = $10.00
Swiss Franc/J. Yen - 1,630 1,207 - 7:20-2:00 1 PT = $12.50 1 PT = $12.50
Swiss Franc/B. Pound - 1,215 900 - 7:20-2:00 - -
J. Yen/B. Pound - 1,647 1,220 - 7:20-2:00 - -
Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Interest Rates
Eurodollar* $1,000,000 945 700 - 7:20-2:00 1 PT = $25.00 1/2 PT = $12.50
Treasury Bills $1,000,000 405 300 150 7:20-2:00 1 PT = $25.00 1/2 PT = $12.50
Treasury Bonds** $100,000 1,553 1,150 300 7:20-2:00 1 PT = $1,000.00 1/32 PT = $31.25
Mini-Treasury Bonds $50,000 776 575 150 7:20-3:15 1 PT = $500.00 1/32 PT = $15.62
10 Yr T. Notes** $100,000 1,013 750 150 7:20-2:00 1 PT = $1,000.00 1/2 of 1/32 PT = $15.62
Mini Eurodollar** 500,000 338 250 100 8:00-4:00 1 PT = $12.50 1/2 PT = $6.25
Fed.30-day Funds 5,000,000 475 350 100 7:20-2:00 1 PT = $4,167.00 .01 = $41.67
Municipal Bond $100,000 878 650 135 7:20-2:00 1 PT = $1,000.00 1/32 PT = $31.25
Five Year** $100,000 473 350 338 7:20-2:00 1 PT = $1,000.00 1/2 of 1/32 PT = $15.62
Two Year $200,000 540 400 270 7:20-2:00 1 PT = $2,000.00 1/4 of 1/32 PT = $15.62
Midcurve $1,000,000 810 600 270 7:20-2:00 1 PT = $25.00 1/2 PT = $12.50
Notes/Bonds $100,000 760 500 - 7:20-2:00 1 PT = $1,000.00 1/32 PT = $31.25
Munis/Bonds $100,000 635 550 - 7:20-2:00 1 PT = $1,000.00 1/32 PT = $31.25
Ted Spread (T-Bills/Euros) $1,000,000 709 525 - 7:20-2:00 1 PT = $25.00 1/2 PT = $12.50
EuroYen (front month) 100 Million Yen 12,825 9,500 - 7:20-2:00 1 PT = $2,500JY 1 PT = $2,500JY
Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Grains/Oil Seeds
Corn* 5,000 BU 540 400 135 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Cbt mini-Corn 1,000 BU 81 60 27 9:30-1:45 1 Cent = $10.00 1/4 Cent = $2.50
Oats* 5,000 BU 305 300 270 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Soybeans* 5,000 BU 1013 750 602 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Cbt mini-Soybeans 1,000 BU 216 160 45 9:30-1:45 1 Cent = $10.00 1/4 Cent = $2.50
Soymeal* 100 Tons 810 600 405 9:30-1:15 1 Cent = $100.00 10 Cents = $10.00
Soybean Oil* 60,000 lbs. 540 400 135 9:30-1:15 1 PT = $6.00 1 PT = $6.00
Wheat* 5,000 BU 743 550 371 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Wheat (mini) 1,000 BU 101 75 74 9:30-1:45 1 Cent = $10.00 1/4 Cent = $2.50
Kansas City Wheat* 5,000 BU 1,125 900 125 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Minneapolis Wheat* 5,000 BU 650 500 338 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Rough Rice* 100 Tons 513 380 270 9:15-1:30 1 Cent = $20.00 1/2 Cent = $10.00
Canola* 20 Metric Tons 412 305 50 9:30-1:15 1 Cent = $0.2 CD 10 Cents = $2 CD
Flaxseed* 20 Metric Tons 170 125 50 9:30-1:15 1 Cent = $0.2 CD 10 Cents = $2 CD
KC Wheat/CBOT Wheat 10,000 BU 508 390 - 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Corn (Old/New crop spread) 10,000 BU 203 150 - 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Oats (Old/New crop spread) 10,000 BU 169 125 - 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Soybeans (Old/New crop) 10,000 BU 1,000 750 - 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
Wheat (Old/New crop spread)
 10,000 BU 135 100 - 9:30-1:15 1 Cent = $50.00 1/4 Cent = $12.50
(Old crop margins can be higher)
Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Indexes
NYSE Composite 500 x NFYE 20,000 20,000 600 8:30-3:15 1 PT = $5.00 5 PT = $25.00
S&P 500* 250 x S&P 500 19,688 15,750 200 8:30-3:15 1 PT = $2.50 10 PT = $25.00
E-mini S&P** 50 x S&P 500 3,938 3,150 50 3:45-3:15 1 PT = $0.50 25 PT = $12.50
Mini Value Line 100 x VL 4,500 3,600 125 8:30-3:15 1 PT = $1.00 5 PT = $5.00
CRB Index 500 x Index 1,500 1,500 125 8:40-1:45 1 PT = $5.00 5 PT = $25.00
CRB Index 500 x CRB 2,900 2,900 8:40-1:45 1 PT = $1.00 5 PT = $25.00
Nikkei Stock Index 500 x Index 4,065 3,250 170 8:00-3:15 1 PT = $5.00 5 PT = $25.00
Goldman Index 250 x Index 4,125 2,750 563 8:30-3:15 1 PT = $2.50 5 PT = $12.50
Mid Cap 500 x Index 16,875 13,500 844 8:30-3:15 1 PT = $5.00 5 PT = $25.00
Nasdaq 100* 100 x Nasdaq 100 18,750 15,000 255 8:30-3:15 1 PT = $1.00 5 PT = $50.00
E-mini Nasdaq 100** 20 x Nasdaq 100 3,750 3,000 51 3:45-3:15 1 PT = $0.20 50 PT = $10.00
Russell 1000 100 x Russell 1000 3,625 2,900 200 3:45-3:15 10 PT = $10.00 10 PT = $10.00
Russell 2000 500 x Index 17,500 14,000 844 8:30-3:15 1 PT = $5.00 5 PT = $25.00
Dow Jones**** 10 x DJIA 4,875 3,900 500 7:20-3:15 1 PT = $10.00 1 PT = $10.00
Mini 5$ Dow*** 5 x DJIA 2,438 1,950 200 8:15-4:00 1 PT = $5.00 5 PT = $5.00
Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Livestock
Feeder Cattle 50,000 Lbs. 1,350 1,000 743 9:05-1:00 1 PT = $5.00 2.5 PT = $12.50
Live Cattle 40,000 Lbs. 945 700 1,215 9:05-1:00 1 PT = $4.00 2.5 PT = $10.00
Lean Hogs 40,000 Lbs. 1,080 800 700 9:10-1:00 1 PT = $4.00 2.5 PT = $10.00
Frozen Bellies 40,000 Lbs. 1,620 1,200 810 9:10-1:00 1 PT = $4.00 2.5 PT = $10.00
Bellies/Hogs 40,000 Lbs. 1,645 1,230 - 9:10-1:00 1 PT = $4.00 2.5 PT = $10.00
Cattle/Hogs 40,000 Lbs. 1,350 1,012 - 9:10-1:00 1 PT = $4.00 2.5 PT = $10.00
Feeders/Live Cattle - 1,950 1,465 - 9:10-1:00

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Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Foods/Fibers/Lumber
Cocoa 10 M Tons 980 700 210 7:00-10:50 1 PT = $10.00 1 PT = $10.00
Coffee "C"; 37,500 Lbs. 2,800 2,000 500 8:15-11:30 1 PT = $3.75 5 PT = $18.75
Cotton #2 50,000 Lbs. 1,540 1,100 298 9:30-1:15 1 PT = $5.00 1 PT = $5.00
Orange Juice 15,000 Lbs. 980 700 250 9:00-12:30 1 PT = $1.50 5 PT = $7.50
Sugar #11 112,000 Lbs. 1,540 1,100 140 8:00-11:00 1 PT = $11.20 1 PT = $11.20
Lumber 110,000 bd ft 1,650 1,100 900 9:00-1:05 1 PT = $1.10 10 PT = $11.00
New Milk (CME) 200,000 Lbs. 2,025 1,500 300 9:40-1:10 1 PT = $20.00 1 PT = $20.00
Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Metals
Copper 25,000 Lbs. 8,775 6,500 202 7:10-12:00 1 PT = $2.50 5 PT =$12.50
Gold 100 Troy oz. 4,725 3,500 608 7:20-12:30 1 Doll = $100.00 10 Cent = $10.00
Mini New York Gold* 33.2 Troy Oz. 1,012 787 135 8:15-1:45 1 Doll = $33.20 10 Cent = $3.32
Platinum 50 Troy Oz. 2,700 2,000 500 7:20-12:05 1 Doll = $50.00 10 Cent = $5.00
Palladium 100 Troy Oz. 3,375 2,500 404 7:30-12:00 1 Doll = $100.00 5 Cent = $5.00
Silver/5000 OZ 5,000 Troy Oz. 9,000 6,750 470 7:25-12:25 1 Cent = $50.00 1/2 Cent = $25.00
Mini New York Silver* 1,000 Troy Oz. 1,800 1,350 338 8:15-1:45 1 Cent  = $10.00 1/10 Cent = $1.00
Ecbot 100oz Gold 100 Troy Oz. 3,038 2,363 - - 1 Doll = $100.00 -
Ecbot 5000oz Silver 5,000 Troy Oz. 9,000 6,750 - - 1 Cent = $50.00

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Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Energies
Crude Oil 1,000 Barrels 4,725 3,500 1,000 9:00-1:30 1 Cent = $10.00 1 Cent = $10.00
Mini Crude 500 Barrels 2,363 1,750 - 9:00-1:30 1 Cent = $5.00 1 Cent = $5.00
Unleaded Gas 42,000 Gal. 8,100 6,000 1,000 9:05-1:30 1 PT = $4.20 1 PT = $4.20
Heating Oil 42,000 Gal. 6,750 5,000 1,000 9:05-1:30 1 PT = $4.20 1 PT = $4.20
Natural Gas 10,000 MM Btu 12,150 9,000 3,375 9:00-1:30 1 PT = $10.00 1 PT = $10.00
Heating Oil/Unleaded Gas - 3,000 2,000 - 9:00-1:30 - -
Crude Oil/Heating Oil - 3,000 2,000 - 9:00-1:30 - -
Crude Oil/Natural Gas - 3,000 2,000 - 9:00-1:30 - -
Commodity Contract Contract Size Initial Margin Maint. Margin Spread Margin Trading Hour - CST Point Value Tick Fluctuation
Foreigns
LIFFE FTSE 100 25 BP x FTSE Index 3,500 BP 3,500 BP - 2:00A-11:30A 1 PT = 2.5 BP 5 PT = 12.5 BP
LIFFE Gilt 100,000 BP >1,900 BP 1,900 BP - 2:00A-12:00A 1 PT = 10 BP 1 PT = 10 BP
LIFFE Euro-BTP (Italian Bond) 100,000 ECU 1,500 ECU 1,500 ECU - 1:55A-11:58A 1 PT = 10 ECU 1 PT = 10 ECU
Eurex Bond 100,000 ECU 2,045 ECU 2,045 ECU - 1:30A-11:56A 1 PT = 10 ECU 1 PT = 10 ECU
Eurex DAX 25 x DAX Index 10,000 ECU 7,500 ECU - 2:30A-9:00A 1 PT = 25 ECU 0.5 PT = 12.5 ECU
SIMEX Nikkei 500JY x Nikkei Index 562,500 JY 450,000 JY - 6:00P-12:15A 1 PT = 500 JY 5 PT = 2,500 JY
SIMEX Hang Seng Index HK$50 x Index 90,000 HK$ 90,000 HK$ - 8:00P-2:00A 1 PT = HK$50 1 PT = HK$50
MATIF CAC40 10 ECU x Index 2,750 2,750 - 3:00A-10:00A 1 PT = 10 ECU 0.5 PT = 5 ECU
MATIF Euro 10-Yr 100,000 ECU 1,500 ECU 1,500 ECU - 2:30A-9:30A 1 PT = 10 ECU 1 PT = 10 ECU
SFE Ordinaries Prices Index 25 AD x Index 10,000 AD 8,000 AD - 4:20P-10:40P 1 PT = 25 AD 1 PT = 25 AD
SFE Australian 10-Yr Bond 100,000 AD 2,400 AD 2,400 AD - 4:20P-12:30A 1% = 88 AD 0.5 % = 44 AD