Nymex, ICE Raise Margin Requirements as Oil Trades Above $100
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The New York Mercantile Exchange boosted the margin requirement on its oil futures for the first time since March 2009 and the IntercontinentalExchange Inc. raised its rates for the second day in a row as crude traded above $100 a barrel.
Margins for speculators on the Nymex will increase to $6,075 per contract from $5,063 after the close of trading tomorrow, according to a notice on the website of the CME Group, Nymex’s parent. For hedgers, the rate will rise to $4,500 from $3,750. The latest change on ICE will boost the Brent margin to $5,200 from $4,850. The cost has jumped 14 percent this week.