CME cuts margin levels for MF Global clients
KUALA LUMPUR (Reuters) - CME Group (CME.O: Quote) said it was changing its margin requirements for customers of collapsed brokerage MF Global Holdings Ltd MFGLQ.PK, cutting the size of any margin calls when positions are transferred to another brokerage.
The move is aimed at providing "market relief to customers whose accounts have been disrupted by this event," the Chicago- group said in a statement on November 5.
Separately, IntercontinentalExchange Inc (ICE.N: Quote), which operates the London-based ICE Futures Europe, said in a statement that ICE Futures U.S. is temporarily lowering the initial margin rate for all speculative accounts to a level equal to the maintenance margin rate for all contracts.
"This action is being taken to mute the impact of the transfer of accounts from MF Global Inc. to other clearing members," the exchange said.
(Reporting by Jane Lee; Editing by Himani Sarkar)
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