ICE Futures Canada cuts margin need for MF Global clients

Mon Nov 7, 2011 11:19am EST
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(Reuters) - ICE Futures Canada (ICE.N: Quote) said on Monday it was temporarily eliminating requirement on the futures commission merchants to charge an additional 35 percent margin to non-hedger clients of failed brokerage MF Global MFGLQ.PK.

All accounts may be charged the hedger maintenance margin rate, effective immediately, the exchange operator said.

"This temporary action is being taken to mute the impact of the transfer of accounts from MF Global Canada Co to other clearing participants," the exchange said in a note.

(Reporting by Soma Das in Bangalore; Editing by Marguerita Choy)