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Ukraine crisis ‘made VM 3 times IM’ on CME products


May 13, 2022
Oil wheat and gas

Variation margin requirements for products derivatives traded at CME were 3 times the levels of preliminary margin last month, after Russia’s intrusion of Ukraine resulted in spikes in the costs of oil, wheat and gas.

” Our biggest one-day boost in the preliminary margin base throughout all accounts was less than 2.5%, which corresponds to about $5 billion as our biggest boost over the duration,” stated Lee Betsill, primary danger officer for CME Group, at the International Swaps and Derivatives

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