BLBG:CME Group Cuts Silver, Copper, Palladium Futures Margins
CME Group Inc. (CME) cut margins for silver and copper futures on the Comex and palladium on the New York Mercantile Exchange.
The amount that speculators must keep on deposit for an initial account in silver futures was reduced 13 percent to $18,900 from $21,600, CME Group said today in a statement on its website. Silver prices tumbled after the Chicago-based CME boosted margins 84 percent in two weeks from late April to early May.
The copper margin was cut to $5,400 from $6,750, and palladium was reduced to $5,225 from $5,775.
The rates are effective after the close of business on April 16.
To contact the reporter on this story: Patrick McKiernan in New York at pmckiernan@bloomberg.net
To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.
