Trading Margins

Trading Margins

Click the tabs below to view Initial, Maintenance and Day Trading Margins
on most futures contracts offered by ITG Futures.

In a typical futures contract, the margin rate varies between 5 and 15% of the total contract value. Initial Futures Margin is the amount of money that is required to open a buy or sell position on a futures contract. Initial margin is original margin, the amount posted when the original trade takes place.

Initial Margin
    Grains Symbol Exchange Maint. Margin Day Trading Margins
    Mini-Sized Corn XC CBOT/Globex $160 $130
    Mini-Sized Soybeans XK CBOT/Globex $410 $300
    Mini-Sized Wheat XW CBOT/Globex $310 $190
    Corn ZC CBOT/Globex $800 $750
    Ethanol ZE CBOT/Globex $1,800 $1,800
    Soybean Oil ZL CBOT/Globex $600 $600
    Soybean Meal ZM CBOT/Globex $1,450 $1,200
    Oats ZO CBOT/Globex $675 $600
    Rough Rice ZR CBOT/Globex $1,250 $825
    Soybeans ZS CBOT/Globex $2,050 $1,500
    Wheat ZW CBOT/Globex $1,250 $950

Maintenance margin is the minimum amount of equity that must be maintained in a margin account. In the context of the futures markets, after an investor has bought or sold a futures contract, the minimum required level of maintenance margin is at least 80% of the initial margin.

Maintenance Margin
    Meats (CME) Symbol Root Initial Margin Maint. Margin Day Trading Rate
    Lean Hogs LH $1,485 $1,350 25%
    Live Cattle LC $1,650 $1,500 25%
    Feeder Cattle FC $3,080 $2,800 25%

With Day Trading Margin, day traders are able to trade instruments valued much greater than the margin price via leverage. Most FCM's set there own day trading margin levels, that will range from as little as $500.00 for some futures to as much as 50% of initial margin. Level of 25% of the initial margin is used by most of FCM's as their day trading margin level.

Day Trading Margin
    Softs Symbol Exchange Maint. Margin Day Trading Margins
    Milk Class III DC CME/Globex $850 $850
    Lumber LB CME/Globex $1,500 $950
    Cocoa CC ICE Futures U.S. $1,900 $700
    Cotton CT ICE Futures U.S. $2,650 $1,200
    Coffee KC ICE Futures U.S. $2,100 $2,100
    Orange Juice OJ ICE Futures U.S. $$1,020 $1,000
    Sugar #11 SB ICE Futures U.S. $950 $775

In a typical futures contract, the margin rate varies between 5 and 15% of the total contract value. Initial Futures Margin is the amount of money that is required to open a buy or sell position on a futures contract. Initial margin is original margin, the amount posted when the original trade takes place.

Initial Margin
Financials Symbol Exchange Maint. Margin Day Trading Margins
US 10-Year Interest Rate Swap SR CBOT/Globex $1,750 $550
Ultra T-Bond UB CBOT/Globex $3,650 $2,000
US 3-Year US Treasury Notes Z3N CBOT/Globex $5,500 $350
US 30-Year Treasury Bond ZB CBOT/Globex $2,550 $500
US 5-Year Treasury Note ZF CBOT/Globex $680 $250
US 10-Year Treasury Note ZN CBOT/Globex $1,050 $500
Fed Funds 30-Day Interest Rate ZQ CBOT/Globex $195 $195
US 2-Year Treasury Note ZT CBOT/Globex $490 $100
Eurodollar GE CME/Globex $250 $250
LIBOR One Month GLB CME/Globex $300 $100
Euro Bund 10-Year FGBL Eurex $2,400 $500
Euro Bobl 5-Year FGBM Eurex $1,100 $500
Euro Schatz 2-Year FGBS Eurex $275 $175
Euro-Buxl FGBX Eurex $6,050 $2,000
Euro-BTP Futures FBTP Eurex $55,600 $1,000
Euro-Oat FOAT Eurex $2,500 $1,000
Short Sterling 3-Month L LIFFE $500 $175
Long Gilt R LIFFE $1,855 $1,000
OSE Tokyo 10-Year (BIG) JGB Osaka-Japan (JPX) $7,800 $2,600
SGX Mini 10-Year JGB JB Singapore Exchange (SGX) $945 $500
90-Day Bank Accept IR Sydney Futures Exchange (SFE) $425 $250
ASX 10-Year Aus Treasury Bond XT Sydney Futures Exchange (SFE) $1,890 $1,000
ASX 3-Year Aus Interest Rate Swap YT Sydney Futures Exchange (SFE) $585 $350

Maintenance margin is the minimum amount of equity that must be maintained in a margin account. In the context of the futures markets, after an investor has bought or sold a futures contract, the minimum required level of maintenance margin is at least 80% of the initial margin.

Maintenance Margin
    Energies Symbol Exchange Maint. Margin Day Trading Margin
    ICE Brent Crude Oil BRN ICE Europe $4,600 $2,000
    ICE WTI Crude T ICE Europe $3,900 $2,000
    ICE (RBOB) Gasoline N ICE Europe $4,250 $2,000
    Gas Oil GAS ICE Europe $3,050 $2,000
    ICE Heating Oil QHO ICE Europe $3,654 $2,000
    Crude Oil CL NYMEX/Globex (NYMEXG) $4,275 $1,000
    Rbob RB NYMEX/Globex (NYMEXG) $4,600 $2,000
    Heating Oil HO NYMEX/Globex (NYMEXG) $4,500 $2,000
    Natural Gas NG NYMEX/Globex (NYMEXG) $5,700 $500
    E-mini Natural Gas QG NYMEX/Globex (NYMEXG) $1,425 $300
    E-mini Heating Oil QH NYMEX/Globex (NYMEXG) $2,250 $1,000
    E-mini Crude Light QM NYMEX/Globex (NYMEXG) $2,050 $500
    E-mini Unleaded Gasoline QU NYMEX/Globex (NYMEXG) $2,300 $1,000

With Day Trading Margin, day traders are able to trade instruments valued much greater than the margin price via leverage. Most FCM's set there own day trading margin levels, that will range from as little as $500.00 for some futures to as much as 50% of initial margin. Level of 25% of the initial margin is used by most of FCM's as their day trading margin level.

John Doe
    Currencies Symbol Exchange Maint. Margin Day Trading Rate
    Australian Dollar 6A CME/Globex $1,250 $500
    British Pound 6B CME/Globex $2,400 $500
    Canadian Dollar 6C CME/Globex $1,150 $500
    EuroFX 6E CME/Globex $2,300 $500
    Japanese Yen 6J CME/Globex $1,800 $500
    New Zealand Dollar 6N CME/Globex $1,400 $500
    Mexican Peso 6M CME/Globex $1,750 $500
    Swiss Franc 6S CME/Globex $3,800 $500
    E-mini EuroFX E7 CME/Globex $1,150 $500
    E-mini Japanese Yen J7 CME/Globex $900 $500
    E-micro AUD/USD M6A CME/Globex $145 $100
    E-micro GBP/USD M6B CME/Globex $240 $100
    E-micro USD/CAD MCD CME/Globex $130 $100
    E-micro EUR/USD M6E CME/Globex $230 $100
    E-micro USD/JPY MJY CME/Globex $180 $100
    E-micro USD/CHF MSF CME/Globex $300 $100
    Dollar Index DX ICE Futures U.S. $1,650 $500

In a typical futures contract, the margin rate varies between 5 and 15% of the total contract value. Initial Futures Margin is the amount of money that is required to open a buy or sell position on a futures contract. Initial margin is original margin, the amount posted when the original trade takes place.

Initial Margin
    Metals Symbol Exchange Maint. Margin Day Trading Margins
    Gold GC COMEX/Globex (COMEX) $3,400 $1,000
    Copper HG COMEX/Globex (COMEXG) $3,100 $1,000
    E-micro Gold MGC COMEX/Globex (COMEXG) $310 $250
    miNY Copper QC COMEX/Globex (COMEXG) $1,550 $500
    miNY Silver MQI COMEX/Globex (COMEXG) $1,800 $1,800
    miNY Gold MQO COMEX/Globex (COMEXG) $1,550 $500
    Silver SI COMEX/Globex (COMEXG) $3,600 $3,600
    1000 oz Silver SIL COMEX/Globex (COMEXG) $720 $720
    Mini Silver YI ICE Futures U.S. $$1,085 $1,085
    100 oz Gold ZG ICE Futures U.S. $4,300 $4,300
    5000 oz Silver ZI ICE Futures U.S. $5,420 $5,420
    Mini Gold ZYG ICE Futures U.S. $1,380 $500
    Palladium PA NYMEX/Globex (NYMEXG) $6,500 $2,250
    Platinum PL NYMEX/Globex (NYMEXG) $1,700 $1,000

Maintenance margin is the minimum amount of equity that must be maintained in a margin account. In the context of the futures markets, after an investor has bought or sold a futures contract, the minimum required level of maintenance margin is at least 80% of the initial margin.

Maintenance Margin
    Stock Index Symbol Exchange Maint. Margin Day Trading Margins
    Dow Jones ($5) Mini YM CBOT/Globex $5,600 $500
    CBOE Volatility Index (VIX) VX CFE/CBOE $8,000 $2,000
    E-mini S&P MidCap 400 EMD CME/Globex $82,500 $500
    E-mini S&P 500 Index ES CME/Globex $6,800 $400
    E-micro S&P CNX Nifty 50 Index MNF CME/Globex $800 $500
    NIKKEI 225 NKD CME/Globex $5,600 $1,500
    E-mini NASDAQ 100 Index NQ CME/Globex $7,000 $500
    Russell 2000 Index Mini ($50) RTY CME/Globex $3,550 $250
    STOXX Europe 50 Index FSXP Eurex $2,300 $400
    DAX Index FDAX Eurex $24,000 $2,500
    MINI Dax FDXM Eurex $4,800 $500
    Dow Jones Euro STOXX 50 FESX Eurex $2,600 $500
    STOXX Europe 600 Index FXXP Eurex $1,300 $400
    Mini VSTOXX FVS Eurex $700 $250
    Russell 2000 Index Mini ($50) TY ICE Futures U.S. $2,750 $250
    CAC-40 Index FCE LIFFE $3,500 $1,500
    FTSE 250 Index Y LIFFE $4,770 $2,750
    FTSE 100 Index Z LIFFE $5,225 $1,500
    Mini-Nikkei 225 MJNK Osaka - Japan (JPX) $700 $500
    Nikkei 225 (Osaka) JNK Osaka - Japan (JPX) $10,000 $5,000
    TOPIX JTPX Osaka - Japan (JPX) $2,800 $1,400
    Mini TOPIX JMT Osaka - Japan (JPX) $280 $140
    JPX-Nikkei Index 400 J400 Osaka - Japan (JPX) $500 $250
    S&P CNX Nifty Index EN Singapore Exchange (SGX) $2,475 $1,000
    NIKKEI 225 Index NK Singapore Exchange (SGX) $2,700 $1,000
    USD Nikkei 225 Index NU Singapore Exchange (SGX) $2,700 $1,500
    MSCI Taiwan Stock Index TW Singapore Exchange (SGX) $1,000 $750
    SFE SPI 200 AP Sydney Futures Exchange (SFE) $5,000 $1,800

The Day Trading Margins are set by FCM's. This is the amount required to enter into a position per contract on an intraday basis. These margins are in effect anytime the market is open, except for the last 5 minutes of each trading session. We request that you either flatten open positions or meet the exchange required maintenance margin during this time period.

The above information was drawn from sources believed to be reliable. Although it is believed that information provided is accurate, no guarantee is made. ITG Futures assumes no responsibility for any errors or omissions.

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Additional Disclosure

ITG Futures and/or our Clearing FCMs maintain the right to liquidate any position at any time if a margin call and/or deficit occurs. The customer will be subject to $25.00 liquidation fees by ITG Futures and may be subject to additional fees set by FCM. The customer would be responsible for any deficit that occurs as a result of liquidations. We will make our best efforts to contact customers to address margin call depending on the severity of the call. Accounts that are subject to margin calls may experience higher commissions due to increased risk. Specific day trading margins from select FCMs that are well below average rates may subject you to much higher fees than provided above. Contracts with relatively low liquidity may subject you to additional fees.

The margin rates above were drawn from sources believed to be reliable. Although it is believed that the information provided is accurate, we cannot guarantee the accuracy of this data. For current margin rates, please contact us or visit the exchanges’ Websites listed on our Exchange Access Page. The margins listed on this page are for informational purposes only and are subject to change at any time without notice. Day Trading Margins may differ according to your clearing firm. Please consult your broker to confirm the current margins for your account.

THIS MATERIAL IS CONVEYED AS A SOLICITATION FOR ENTERING INTO A DERIVATIVES TRANSACTION.

TRADING FUTURES AND OPTIONS INVOLVES THE RISK OF LOSS. YOU SHOULD CONSIDER CAREFULLY WHETHER FUTURES OR OPTIONS ARE APPROPRIATE TO YOUR FINANCIAL SITUATION. ONLY RISK CAPITAL SHOULD BE USED WHEN TRADING FUTURES OR OPTIONS. PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURES RESULTS.

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ITG Capital Management, LLC (d.b.a ITG FUTURES) is an independent introducing broker|Registered CFTC|NFA Member. Our clearing partners are Clearing Members at CME, CBOT, COMEX, NYMEX, ICE-US, Eris Exchange, Eurex, and other commodity futures exchanges in Europe and Asia. 

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