CHICAGO(Commodity Online): Following the increase in gold collateral ceiling, the CME Group on Monday raised its margin requirements for trading copper and platinum futures, effective after the close of business Tuesday.
In a statement,CME said from 5th October initial requirements for platinum were hiked to $4,950 per contract from $3,850, and maintenance margins rose to $4,500 each from $3,500
For copper contracts on the comex division, it rose to $7,763 per contract from $6,750, and maintenance margins climbed to $5,750 each contract from $5,000.
The exchange operator raised initial margins on Comex copper futures by 15 percent to $7,763 a contract, while raising the same requirement on Nymex platinum futures by about 29 percent to $4,950 a contract.
