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CME raises initial margins for Comex gold, NYMEX platinum
June 20, 2013 / 9:29 PM / 4 years ago

CME raises initial margins for Comex gold, NYMEX platinum

June 20 (Reuters) - The CME Group, parent of the Chicago Board of Trade, raised initial margins for Comex gold and NYMEX platinum futures, effective after the close of business on Friday, June 21.

The exchange operator raised Comex 100 Gold Futures (GC)initial margins for speculators by 25 percent to $8,800 per contract from $7,040.

CME also lifted Platinum futures NYMEX (PL) initial margins for speculators by 12.5 percent to $3,465 per contract from $3,080.

Margins are deposits paid by investors in futures markets, where full payment is made when contracts mature, to an exchange or clearing house to cover the risk of default by that investor and typically are based on the largest most-likely daily market move.

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