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News Update

CME lowers margin requirements for oil, metals... its Sign of Something Good Ahead..

(Updates with details on crude-oil, gold trading costs in the fifth and sixth paragraphs, other changes in the seventh and eighth paragraphs.)

NEW YORK -(MarketWatch)- CME Group Inc. CME -0.51% will cut the collateral that traders must put up to trade its benchmark crude-oil, gold and other futures, the company said in an email after trading closed Thursday.

The exchange operator will cut the costs to trade its light, sweet crude-oil contract on the New York Mercantile Exchange. Trading costs are also set to decline for benchmark gold, silver and copper futures.

The new rates will be effective after the close of business Monday, the statement said.

Exchanges require market participants to post margin to cover potential losses in future trading sessions, and to avoid a default by a trader. CME executives have said margin decreases typically take place when markets become less volatile.

In Nymex crude futures, the world's most widely traded oil futures contract, speculators will have to post $6,885 to trade the front-month contract, down 9% from $7,560 currently.

For speculators in the exchange's benchmark gold futures contract, costs to open a position will fall to $10,125, down 12% from the $11,475 currently.

Costs to trade Comex copper futures will fall 13%, and costs to trade silver futures will decline 14%.

The exchange will also reduce costs to trade platinum, iron-ore, steel, and other metals and energy contracts. Margin requirements will increase on the exchange's main natural-gas futures contract.

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