Futures Margins
 

Margin sheets are updated regularly, and are provided as a quick indication of current margins, however in times of volatility margins can change quickly and it is prudent to check with your account executive for the latest rates. Day trade margins are usually 50% of the overnight rate.

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  Description Exchange Margin Currency Day Margin Overnight Margin 
  CBOT DENATURED ETHANOL CBT USD 4347.00 8694.00 
  CBT BINARY FED FUNDS OPT CBT USD 0.00 0.00 
  CBT DJ AIG IND EX/RET CBT USD 1140.00 2280.00 
  CBOT TREASURY BONDS CBT USD 1344.00 2688.00 
  CBOT $25 BIG DOW CBT USD 16181.55 32363.10 
  CBOT D J IND AV (DJIA) CBT USD 6472.62 12945.24 
  CBOT CORN CBT USD 1560.00 3120.00 
  OTC ETHANOL FWD MTH SWP CBT USD 3150.00 6300.00 
  CBOT 30DAY FED FUNDS FUT CBT USD 675.00 1350.00 
  CBOT OATS CBT USD 1000.00 2000.00 
  CBOT 5YR INT RATE SWAP CBT USD 1716.00 3432.00 
  CBOT ROUGH RICE CBT USD 2426.50 4853.00 
  CBOT SOYBEANS CBT USD 3850.00 7700.00 
  CBOT SOYABEAN MEAL CBT USD 2000.00 4000.00 
  CBOT SOYBEAN OIL CBT USD 1260.00 2520.00 
  CBOT WHEAT CBT USD 2550.00 5100.00 
  CBOT MINI CORN CBT USD 312.00 624.00 
  CBOT MINI EURODOLLAR CBT USD 0.00 0.00 
  CBOT MINI GOLD(33.2oz) CBT USD 891.00 1782.00 
  CBOT MINI SILVER(1000OZ) CBT USD 990.00 1980.00 
  CBOT MINI SOYABEANS CBT USD 770.00 1540.00 
  CBOT MINI DOW IND AV($5) CBT USD 3236.31 6472.62 
  CBOT MINI WHEAT CBT USD 510.00 1020.00 
  CBOT 100 oz. GOLD CBT USD 2673.00 5346.00 
  CBOT 5,000 oz. SILVER CBT USD 4950.00 9900.00 
  CBOT 5YR TREASURY NOTES CBT USD 1115.00 2230.00 
  CBOT 10YR INT RATE SWAP CBT USD 1555.50 3111.00 
  CBOT 10YR TREASURY NOTES CBT USD 1290.00 2580.00 
  CBOT 2YR TREASURY NOTES CBT USD 967.50 1935.00 
  CME S&P 500 CME USD 16380.00 32760.00 
  CME S&P MIDCAP 400 INDEX CME USD 17600.00 35200.00 
  CME CAT SEASON PARIS CME GBP 1617.00 3234.00 
  CME CAT SEASON AMSTERDAM CME GBP 2604.00 5208.00 
  CME CAT SEASON BERLIN CME GBP 711.75 1423.50 
  CME CAT SEASON STOCKHOLM CME GBP 1160.25 2320.50 
  CME E-MINI S&P ASIA 50 CME USD 5625.00 11250.00 
  CME S&P 500/BARRA VALUE CME USD 9700.00 19400.00 
  CME SWISS FRANC CME USD 1947.50 3895.00 
  CME S&P 500/BARRA GROWTH CME USD 6640.00 13280.00 
  CME CHF/JPY CME JPY 345000.00 690000.00 
  CME RUSSIAN ROUBLE CME USD 3440.00 6880.00 
  IMM EURO/JAPANESE YEN CME JPY 375000.00 750000.00 
  CME 10YR SWAP FUTURE CME USD 1372.50 2745.00 
  CME 2YR SWAP FUTURE CME USD 2676.00 5352.00 
  CME 5YR SWAP FUTURE CME USD 2341.50 4683.00 
  CME NIKKEI 225 INDEX CME JPY 470000.00 940000.00 
  CME NIKKEI 225 INDEX USD CME USD 3580.00 7160.00 
  CME E-MINI NASDAQ 100 CME USD 1496.00 2992.00 
  CME NEW ZEALAND DOLLAR CME USD 1222.00 2444.00 
  E-MINI EURODOLLAR FUTURE CME USD 5062.50 10125.00 
  CME 90DAY EURODOLLAR CME USD 506.25 1012.50 
  CME PORK BELLIES (40000) CME USD 1380.00 2760.00 
  PIMCO CRR TRAKRS INDEX CME USD 50.00 100.00 
  CME POLISH ZLOTY CME USD 3500.00 7000.00 
  CME E-MINI NASDAQ COMP CME USD 3600.00 7200.00 
  CME SOUTH AFRICAN RAND CME USD 2265.50 4531.00 
  CME ROGERS CMMDTY TRAKRS CME USD 50.00 100.00 
  CME EURO/SWISS FRANC CME CHF 1702.50 3405.00 
  CME RUSSELL 2000 INDEX CME USD 22470.00 44940.00 
  CME CHINESE RENMINBI/USD CME USD 1200.00 2400.00 
  CME EURO/BRIT POUND CME GBP 1430.00 2860.00 
  CME ISRAELI SHEKEL CME USD 7800.00 15600.00 
  CME JAP GOVT BOND 10YR CME JPY 208335.00 416670.00 
  CME JAPANESE YEN CME USD 2300.00 4600.00 
  CME EUR/SEK CME SEK 9500.00 19000.00 
  CME 1 MONTH LIBOR CME USD 949.00 1898.00 
  CME LIVE CATTLE CME USD 1260.00 2520.00 
  CME LIVE HOGS (N/C) CME USD 0.00 0.00 
  CME LEAN HOGS CME USD 981.00 1962.00 
  CME LUMBER (110000 B/Ft) CME USD 1237.50 2475.00 
  CMP MEXICAN PESOS CME USD 2025.00 4050.00 
  CME NASDAQ 100 INDEX CME USD 7480.00 14960.00 
  CME CAT MONTH LONDON CME GBP 367.50 735.00 
  CME CAT MONTH PARIS CME GBP 378.00 756.00 
  CME CAT MONTH AMSTERDAM CME GBP 356.25 712.50 
  CME CAT MONTH BERLIN CME GBP 350.25 700.50 
  CME CAT MONTH STOCKHOLM CME GBP 314.25 628.50 
  CME GSCI EXCESS RETURN CME USD 3800.00 7600.00 
  CME GOLDMAN SACHS INDEX CME USD 11400.00 22800.00 
  CME EUROZONE HICP FUTS CME EUR 2000.00 4000.00 
  CME CAD/JPY CME CAD 687500.00 1375000.00 
  CME CZECH KORUNA CME USD 6402.00 12804.00 
  CME HDD MONTH LONDON CME GBP 226.50 453.00 
  CME HDD MONTH PARIS CME GBP 257.25 514.50 
  CME HDD MONTH AMSTERDAM CME GBP 297.00 594.00 
  CME HDD MONTH BERLIN CME GBP 280.50 561.00 
  CME HDD MONTH STOCKHOLM CME GBP 295.50 591.00 
  CME MILK CLASS III CME USD 877.50 1755.00 
  CME $INDEX CME USD 1116.50 2233.00 
  CME EURO CME USD 2640.00 5280.00 
  CME EUR/CAD CME CAD 2700.00 5400.00 
  CME EUR/NOK CME NOK 26000.00 52000.00 
  CME EURO CURRENCY TRAKRS CME USD 50.00 100.00 
  EMINI MSCI EAFE INDX FUT CME USD 5000.00 10000.00 
  CME MINI JAPANESE YEN CME USD 1150.00 2300.00 
  CME EUR/JPY CME JPY 39900.00 79800.00 
  CME EURO YEN LIBOR CME JPY 24850.00 49700.00 
  CME EMINI S&P MIDCAP400 CME USD 3520.00 7040.00 
  EMINI MSCI EM MA NDX FUT CME USD 7875.00 15750.00 
  CME S&P SMALLCAP 600 CME USD 1980.00 3960.00 
  CME EURO/POLISH ZLOTY CME EUR 2400.00 4800.00 
  CME MINI RUSSELL 2000 CME USD 4494.00 8988.00 
  CME MINI S&P 500 CME USD 3276.00 6552.00 
  CME E-MINI EURO CME USD 1320.00 2640.00 
  CME EURO YEN (TIBOR) CME JPY 24850.00 49700.00 
  CME FEEDER CATTLE 50000 CME USD 1892.00 3784.00 
  CME HUNGARIAN FORINT CME USD 5000.00 10000.00 
  EMINI FTSE/XINHUA INDEX CME USD 11000.00 22000.00 
  CME BRAZILIAN REAL CME USD 1400.00 2800.00 
  CME BRIT POUND (#62500) CME USD 1963.50 3927.00 
  CME CASH SETTLED BUTTER CME USD 654.00 1308.00 
  CME EUR/AUD CME AUD 3990.00 7980.00 
  CME CANADIAN DOLLAR CME USD 1455.00 2910.00 
  CME GBP/CHF CME CHF 5375.00 10750.00 
  CME GBP/JPY CME JPY 625000.00 1250000.00 
  CME AUD/CAD CME CAD 2496.00 4992.00 
  CME AUD/JPY CME JPY 570000.00 1140000.00 
  CME AUD/NZD CME NZD 4380.00 8760.00 
  CME AUSTRALIAN DOLLAR CME USD 2220.00 4440.00 
  COMEX SILVER COMX USD 4050.00 8100.00 
  COMEX ALUMINIUM COMX USD 1518.75 3037.50 
  COMEX COPPER HIGH GRADE COMX USD 3881.25 7762.50 
  NEW YORK COPPER COMX USD 3881.50 7763.00 
  COMEX GOLD COMX USD 3037.50 6075.00 
  COMEX MINY COPPER COMX USD 2156.25 4312.50 
  COMEX MINY SILVER COMX USD 0.00 0.00 
  COMEX MINY GOLD COMX USD 1518.75 3037.50 
  ASIAN GOLD COMX USD 903.75 1807.50 
  NEW YORK SUGAR NO. 14 CSCE USD 1350.00 2700.00 
  NEW YORK SUGAR NO. 11 CSCE USD 751.50 1503.00 
  NEW YORK COCOA CSCE USD 2215.50 4431.00 
  NEW YORK COFFEE CSCE USD 3270.00 6540.00 
  IMM SWEDISH KRONE IMM USD 7200.00 14400.00 
  IMM NORWEGIAN KRONE IMM USD 11520.00 23040.00 
  NBP NATURAL GAS DAILY IPE GBP 96.90 193.80 
  NBP NATURAL GAS MONTHLY IPE GBP 2295.00 4590.00 
  ICE BRENT CRUDE OIL IPE USD 8160.00 16320.00 
  ECX CARBON FINANCIAL FUT IPE EUR 1470.00 2940.00 
  ICE GAS OIL IPE USD 6750.00 13500.00 
  IPE GAS OIL PHYSICAL IPE USD 0.00 0.00 
  KANSAS CITY WHEAT KCBT USD 2500.00 5000.00 
  LIFFE 3M EURO (EURIBOR) LIFE EUR 710.00 1420.00 
  LIFFE 3M EURODOLLAR LIFE USD 843.75 1687.50 
  LIFFE 3M EURO SWISS I/R LIFE CHF 375.00 750.00 
  LIFFE EUROTOP 100 INDEX LIFE EUR 3450.00 6900.00 
  LIFFE EUROYEN LIFE JPY 30000.00 60000.00 
  LIFFE FTSE EUROTOP 300 LIFE EUR 1161.50 2323.00 
  LIFFE FT-SE 250 LIFE GBP 7112.50 14225.00 
  LIFFE FTSE 100 LIFE GBP 2625.00 5250.00 
  3 MONTH EONIA FUT SWAP LIFE EUR 350.00 700.00 
  1 MONTH EONIA INDEX CTRT LIFE EUR 350.00 700.00 
  LIFE FTSEUROFIRST 80 FUT LIFE EUR 3122.25 6244.50 
  LIFE FTSEUROFIRST100 FUT LIFE EUR 2696.75 5393.50 
  LIFFE 10 YEAR GILT LIFE GBP 1325.00 2650.00 
  LIFFE JAPANESE GOVT BOND LIFE JPY 1100000.00 2200000.00 
  LIFFE MSCI PAN EURO INDX LIFE EUR 1329.40 2658.80 
  LIFFE MSCI EURO INDEX LIFE EUR 1541.00 3082.00 
  LIFFE 10 YEAR SWAPNOTE LIFE EUR 845.00 1690.00 
  LIFFE 2 YEAR SWAPNOTE LIFE EUR 320.00 640.00 
  LIFFE 5 YEAR SWAPNOTE LIFE EUR 595.00 1190.00 
  LIFFE SHORT STG INT RATE LIFE GBP 275.00 550.00 
  LIFFE USD 5 YEAR SWAPNTE LIFE USD 1010.00 2020.00 
  LIFFE USD 10 YEAR SWAPNT LIFE USD 1380.00 2760.00 
  LIFFE USD 2 YEAR SWAPNTE LIFE USD 990.00 1980.00 
  CAC40 INDEX FUTURE LIFE EUR 2100.00 4200.00 
  LLDPE NORTH AMERICA USD LME USD 992.00 1984.00 
  LLDPE NTH AMERICAN EURO LME EUR 690.43 1380.86 
  LLDPE NORTH AMERICA GBP LME GBP 559.74 1119.47 
  LLDPE NORTH AMERICA YEN LME JPY 106449.75 212899.50 
  LLDPE EUROPE EURO LME EUR 863.17 1726.33 
  LLDPE ASIA GBP LME GBP 559.74 1119.47 
  LME LINEAR LOW DEN POLY. LME USD 992.00 1984.00 
  LLDPE EUROPE GBP LME GBP 699.73 1399.46 
  LME NASAAC (USD) LME USD 1399.90 2799.80 
  LME NASAAC (EURO) LME EUR 974.60 1949.20 
  LME NASAAC (GBP) LME GBP 790.00 1580.00 
  LME NASAAC (YEN) LME JPY 150540.00 301080.00 
  POLYPROPYLENE ASIA USD LME USD 1487.88 2975.75 
  POLYPROPYLENE ASIA EURO LME EUR 1035.77 2071.54 
  POLYPROPYLENE ASIA GBP LME GBP 839.61 1679.21 
  LME LEAD (USD) LME USD 3499.75 6999.50 
  LME LEAD (EURO) LME EUR 2436.38 4872.75 
  LME LEAD (GBP) LME GBP 1975.00 3950.00 
  LME LEAD (YEN) LME JPY 376350.00 752700.00 
  POLYPROPYLENE EUROP EURO LME EUR 1035.77 2071.54 
  POLYPROPYLENE EUROPE GBP LME GBP 839.61 1679.21 
  POLYPROPYLENE EUROPE YEN LME JPY 159674.63 319349.25 
  POLYPROPYLENE NTH AM USD LME USD 1487.88 2975.75 
  POLYPROPYLENE NTH AM EUR LME EUR 1035.77 2071.54 
  POLYPROPYLENE NTH AM GBP LME GBP 839.61 1679.21 
  POLYPROPYLENE NTH AM YEN LME JPY 159674.63 319349.25 
  POLYPROPYLENE ASIA YEN LME JPY 159674.63 319349.25 
  LME POLYPROPYLENE LME USD 1487.88 2975.75 
  POLYPROPYLENE EUROPE USD LME USD 1487.88 2975.75 
  LME TIN (USD) LME USD 5999.65 11999.30 
  LME TIN (EURO) LME EUR 4176.60 8353.20 
  LME TIN (STG) LME GBP 3385.73 6771.45 
  LME TIN (YEN) LME JPY 645152.50 1290305.00 
  LME SP HI GRD ZINC (USD) LME USD 3124.88 6249.75 
  SPECIAL HI GRD ZINC -USD LME USD 4750.00 9500.00 
  LME SP HI GRD ZINC EURO LME EUR 2175.38 4350.75 
  LME ZINC (GBP) LME GBP 1763.38 3526.75 
  LME ZINC (YEN) LME JPY 336025.00 672050.00 
  LME ALUMINIUM ALLOY EURO LME EUR 974.60 1949.20 
  LME ALUMINIUM ALLOY (GBP LME GBP 790.00 1580.00 
  ALUMINIUM ALLOY YEN LME JPY 150540.00 301080.00 
  LME HI GD ALUMINIUM USD LME USD 2999.88 5999.75 
  LME HI GD ALUMINIUM EUR LME EUR 2088.25 4176.50 
  LME ALUMINIUM (GBP) LME GBP 1692.88 3385.75 
  LME ALUMINIUM (YEN) LME JPY 322575.00 645150.00 
  LDN COPPER 3M AV ASIAN LME USD 6875.00 13750.00 
  LME NICKEL (USD) LME USD 8999.46 17998.92 
  LME NICKEL (EURO) LME EUR 6264.90 12529.80 
  LME NICKEL (GBP) LME GBP 5078.61 10157.22 
  LME NICKEL (YEN) LME JPY 967728.00 1935456.00 
  FERROUS FAR EAST LME USD 2275.00 4550.00 
  FERROUD MEDITERRANEAN LME USD 2600.00 5200.00 
  LME ALUMINIUM ALLOY (USD LME USD 1399.90 2799.80 
  LLDPE EUROPE USD LME USD 1239.88 2479.75 
  LLDPE EUROPE YEN LME JPY 133068.38 266136.75 
  LLDPE ASIA USD LME USD 992.00 1984.00 
  LLDPE ASIA EURO LME EUR 690.43 1380.86 
  LLDPE ASIA YEN LME JPY 106449.75 212899.50 
  LME COPPER - YEN LME JPY 705637.50 1411275.00 
  LME COPPER (GBP) LME GBP 3703.13 7406.25 
  LME COPPER (USD) LME USD 6562.13 13124.25 
  LME COPPER (EURO) LME EUR 4568.25 9136.50 
  RAPESEED OIL MATF EUR 2812.50 5625.00 
  MATIF EURO NOTIONAL 10YR MATF EUR 750.00 1500.00 
  MATIF CORN MATF EUR 1150.00 2300.00 
  MATIF MILLING WHEAT MATF EUR 0.00 0.00 
  EUROPEAN RAPESEED (EUR) MATF EUR 1312.50 2625.00 
  MONEP CAC 40 (10 EURO) MONP EUR 1995.00 3990.00 
  FTSE EUROFIRST80 MONP EUR 3162.50 6325.00 
  FTSE EUROFIRST80 MONP EUR 3162.50 6325.00 
  FTSE EUROFIRST100 MONP EUR 2875.00 5750.00 
  FTSE EPRA NAREIT EUR IX MONP EUR 1500.00 3000.00 
  GNI LONDON FX DESK MONP USD 0.00 0.00 
  ST MICROELECTRONICS MONP EUR 280.50 561.00 
  FCOJ - A NYCE USD 1709.50 3419.00 
  NEW YORK COTTON NYCE USD 1710.00 3420.00 
  NATURAL GAS (LAST DAY) NYME USD 4565.00 9130.00 
  NATURAL GAS(PENULTIMATE) NYME USD 4565.00 9130.00 
  NYMEX HENRY HUB NAT GAS NYME USD 4565.00 9130.00 
  NYMEX NATURAL GAS NYME USD 4565.00 9130.00 
  NYME NO2 HEATING OIL NYME USD 7350.00 14700.00 
  NYME PALLADIUM NYME USD 2530.00 5060.00 
  NYMEX PROPANE NYME USD 3428.75 6857.50 
  NYME PLATINUM NYME USD 6120.00 12240.00 
  NYMEX E-MINI NATURAL GAS NYME USD 1141.25 2282.50 
  NYMEX MINY HEATING OIL NYME USD 3675.00 7350.00 
  NYMEX E-MINI CRUDE OIL NYME USD 3675.00 7350.00 
  ASIAN PLATINUM NYME USD 1446.75 2893.50 
  ASIAN PALLADIUM NYME USD 330.75 661.50 
  NYMEX MINY GASOLINE NYME USD 3465.00 6930.00 
  NYME LIGHT CRUDE OIL NYME USD 9931.25 19862.50 
  NYMEX SING 380 FUEL OIL NYME USD 4500.00 9000.00 
  DME OMAN CRUDE OIL NYME USD 13052.50 26105.00 
  S&P/MIB FUTURES SIF EUR 6417.00 12834.00 
  S&P/MIB MINI FUTURES SIF EUR 1283.40 2566.80 
 
All margin calls must be met on the same day that the call is made. If an Order Specialist is unable to contact you on the telephone number that you have provided, we will offset a proportion of your position or all of it. This will ensure that any remaining positions are fully margined. A Margin Call must be answered with a Wire Transfer. A personal cheque or cash cannot be accepted. Delivery Month Margins become effective on either the first business day or when the contract becomes the front traded month or when a trading limit is removed from the contract, whichever event precedes the other. For the offsetting of positions, this is done on "a first in, first out basis." The exception to this rule is when a contract that is entered today is the same as another one that is already held. In this situation, today's new trade will be the first to be offset. If a Client holds two accounts, the Client cannot be long and short of identical futures contracts in the two different accounts simultaneously unless the "spread" is considered to be a day trade only.

The information contained herein was provided by sources which we believe to be accurate and reliable. MF Global Ltd makes no guarantees explicit or implied as to its accuracy. Margins are subject to change without notice. Contact your MF Global Direct Order Specialist or Account Executive for the latest information. Margin calls will be verbal only and must be satisfied by wire transfer or banker's draft. Large positions concentrated in a single market may be subject to higher margin requirements. MF Global Direct reserves the right to verify all orders entered during the night before they are executed. Past performance is no guarantee of future results and will not necessarily be repeated. Seasonal trades merely attempt to identify a seasonal tendency and should not be construed as an offer or solicitation to buy or sell any investment. Your investment may be affected by exchange rate variations. Trading futures involves the risk of loss. You may lose more than the amount originally invested and you may have to pay more later. You should not invest in such products unless satisfied that they are suitable for you. MF Global Direct or its associates may have already undertaken or may in future undertake an own account transaction in respect of any future. MF Global Direct or its associates may have a position or holding in the product concerned or in a related product and has or may have a material interest in such products. The market opinions and recommendations expressed herein are those of MF Global Direct and are not necessarily those of any other entity within MF Global Ltd. The above figures do not allow for brokerage or slippage on entry or exit. MF Global Direct is a trading name used by MF Global Ltd, which is regulated by the Financial Services Authority for futures trading.

Please note: If your account is on margin call from the previous day's close of business, day trade initial margins are not available.


Futures, CFD, Margined Foreign Exchange trading and Spread Betting carries a high level of risk to your capital. A key risk of leveraged trading is that if a position moves against you, the customer, you can incur additional liabilities far in excess of your initial margin deposit. Only speculate with money you can afford to lose. Futures, CFD, Margined Foreign Exchange trading and Spread Betting may not be suitable for all customers, therefore ensure you fully understand the risks involved and seek independent financial advice if necessary.

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International Phone: +44 (0) 20 7144 5500 European Free Phone: + 8004414 4414 fax: +44 (0) 20 7144 6710.
E-mail: trading@mfglobal.com. MF Global Direct is a trading name of MF Global UK Limited which is authorised and regulated by the Financial Services Authority. Registered in England No. 1600658. All information is subject to the terms of THIS DISCLAIMER. Copyright © MF Global Limited. All Rights Reserved.