Margin Requirements
Margin Requirements
Initial Margin, also known as Overnight Margin, is set by the exchanges and is universal for all Brokerages. This is the amount required to carry a contract past the day session closing time for each market. Every client needs to have an amount equal to the initial margin requirement in their account balance in order to hold a futures position past the closing time of that market. Not all markets are subject to the day margins listed.
Day margin will vary depending on the trading software you choose. Please contact us for more information on day margin requirements.
Stock Index |
||||
---|---|---|---|---|
Discription | Symbol | Overnight Margin | Maintenance Margin | Intraday Rate |
E-MINI S&P 500 | ES | $11,660 | $10,600 | $500 |
E-MINI MIDCAP 400 | EMD | $14,850 | $13,500 | None |
E-MINI NASDAQ 100 | NQ | $17,380 | $15,800 | $665 |
MINI RUSSELL 2000 (CME) | RTY | $6,380 | $5,800 | $285 |
MINI DOW JONES ($5) | YM | $8,250 | $7,500 | $500 |
MICRO ES | MES | $1,166 | $1,060 | $99 |
MICRO NQ | MNQ | $1,738 | $1,580 | $123 |
MICRO RUSSELL | M2K | $638 | $580 | $99 |
MICRO YM | MYM | $825 | $750 | $99 |
NIKKEI ($ BASED) (CME) | NK | $7,700 | $7,000 | None |
VIX | VX | $25,080 | $22,800 | * |
MINI VOLATILITY INDEX | VXM | $2,508 | $2,280 | * |
ICE Bitcoin | BTM | $5,830 | $5,300 | None |
CME BITCOIN FUTURES | BTC | $23,287 | $21,170 | None |
CME MICRO BITCOIN FUTURES | MBT | $462 | $420 | $99 |
CME ETHEREUM FUTURES | ETH | $18,941 | $17,219 | None |
CME MICRO ETHEREUM FUTURES | MET | $39 | $35 | None |
Name | Symbol | Exchange | Init. Margin | Maint. Margin | Day |
---|---|---|---|---|---|
Aussie Dollar | 6A | CME | USD 2200 | USD 2000 | $2,200 |
Australian Dollar/Japanese Yen | AJY | CME | JPY 660000 | JPY 600000 | JPY 660000 |
Br. Pound / Jap. Yen | PJY | CME | JPY 880000 | JPY 800000 | JPY 880000 |
Brazilian Real | 6L | CME | USD 1980 | USD 1800 | $1,980 |
British Pound | 6B | CME | USD 3080 | USD 2800 | $1,540 |
Canadian Dollar | 6C | CME | USD 1518 | USD 1380 | $1,518 |
E-micro Australian Dollar | M6A | CME | USD 220 | USD 200 | $220 |
E-micro British Pound | M6B | CME | USD 308 | USD 280 | $248 |
E-micro Canadian Dollar Fut CAD | MCD | CME | USD 152 | USD 138 | $145 |
E-micro Euro FX | M6E | CME | USD 292 | USD 265 | $292 |
E-Micro Indian Rupee / Dollar | MIR | CME | USD 297 | USD 270 | $308 |
E-micro Swiss Franc Fut CHF | MSF | CME | USD 451 | USD 410 | $402 |
E-Mini Euro FX | E7 | CME | USD 1458 | USD 1325 | $1,458 |
E-Mini J-YEN | J7 | CME | USD 1705 | USD 1550 | $1,705 |
Euro FX Currencies | 6E | CME | USD 2915 | USD 2650 | $1,457.5 |
Euro FX/BP Cross | RP | CME | GBP 3080 | GBP 2800 | GBP 3,080 |
Euro FX/JY Cross | RY | CME | JPY 506000 | JPY 460000 | JPY 506000 |
Euro FX/SF Cross | RF | CME | CHF 3960 | CHF 3600 | CHF 3960 |
Indian Rupee / Dollar | SIR | CME | USD 1485 | USD 1350 | $1,540 |
Japanese Yen | 6J | CME | USD 3410 | USD 3100 | $1,512.5 |
Korean Won | KRW | CME | USD 3630 | USD 3300 | $3,080 |
Mexican Peso | 6M | CME | USD 1430 | USD 1300 | $1,430 |
New Zealand Dollar | 6N | CME | USD 1980 | USD 1800 | $1,980 |
Russian Ruble | 6R | CME | USD 8800 | USD 8000 | $8,800 |
South African Rand | 6Z | CME | USD 1980 | USD 1800 | $1,980 |
Swedish Krona | SEK | CME | USD 7700 | USD 7000 | $7,700 |
Swiss Franc | 6S | CME | USD 4510 | USD 4100 | $4,510 |
US Dollar Index | DX-M | ICEUS | USD 2090 | USD 1900 | $2,090 |
Energies
Energies | Symbol | Exchange | Maint. Margin | Day Trading Margin |
---|---|---|---|---|
ICE Brent Crude Oil | BRN | ICE Europe | $5,167 | 20% |
ICE WTI Crude | T | ICE Europe | $6,325 | 20% |
ICE (RBOB) Gasoline | N | ICE Europe | $5,514 | 20% |
Gas Oil | GAS | ICE Europe | $3,145 | 20% |
ICE Heating Oil | QHO | ICE Europe | $5,187 | 20% |
Crude Oil | CL | NYMEX/Globex (NYMEXG) | $5,600 | $1,000 |
Rbob | RB | NYMEX/Globex (NYMEXG) | $5,900 | 20% |
Heating Oil | HO | NYMEX/Globex (NYMEXG) | $4,600 | 20% |
Natural Gas | NG | NYMEX/Globex (NYMEXG) | $1,300 | 20% |
E-mini Natural Gas | QG | NYMEX/Globex (NYMEXG) | $462 | 20% |
E-mini Heating Oil | QH | NYMEX/Globex (NYMEXG) | $2,300 | 20% |
E-mini Crude Light | QM | NYMEX/Globex (NYMEXG) | $2,800 | 20% |
E-mini Unleaded Gasoline | QU | NYMEX/Globex (NYMEXG) | $2,300 | 20% |
Metals
Metals | Symbol | Exchange | Maint. Margin | Day Trading Margins |
---|---|---|---|---|
Gold | GC | COMEX/Globex (COMEXG) | $8,300 | $1,000 |
Copper | HG | COMEX/Globex (COMEXG) | $3,750 | 20% |
E-micro Gold | MGC | COMEX/Globex (COMEXG) | $8354 | 20% |
miNY Copper | QC | COMEX/Globex (COMEXG) | $1,350 | 20% |
miNY Silver | MQI | COMEX/Globex (COMEXG) | $1,950 | 20% |
miNY Gold | MQO | COMEX/Globex (COMEXG) | $1,550 | 20% |
Silver | SI | COMEX/Globex (COMEXG) | $9,000 | 20% |
1000 oz Silver | SIL | COMEX/Globex (COMEXG) | $720 | 20% |
Mini Silver | YI | ICE Futures U.S. | $$1,085 | 20% |
100 oz Gold | ZG | ICE Futures U.S. | $4,218 | 20% |
5000 oz Silver | ZI | ICE Futures U.S. | $5,260 | 20% |
Mini Gold | ZYG | ICE Futures U.S. | $1,356 | 20% |
Palladium | PA | NYMEX/Globex (NYMEXG) | $4,750 | 20% |
Platinum | PL | NYMEX/Globex (NYMEXG) | $4,500 | 20% |
Financials
Financials | Symbol | Exchange | Maint. Margin | Day Trading Margins |
---|---|---|---|---|
US 10-Year Interest Rate Swap | SR | CBOT/Globex | $1,750 | 20% |
Ultra T-Bond | UB | CBOT/Globex | $12,200 | 20% |
US 3-Year US Treasury Notes | Z3N | CBOT/Globex | $5,500 | 20% |
US 30-Year Treasury Bond | ZB | CBOT/Globex | $6,500 | 20% |
US 5-Year Treasury Note | ZF | CBOT/Globex | $925 | 20% |
US 10-Year Treasury Note | ZN | CBOT/Globex | $1,850 | 20% |
Fed Funds 30-Day Interest Rate | ZQ | CBOT/Globex | $195 | 20% |
US 2-Year Treasury Note | ZT | CBOT/Globex | $610 | 20% |
Eurodollar | GE | CME/Globex | $475 | 20% |
LIBOR One Month | GLB | CME/Globex | $300 | 20% |
Euro Bund 10-Year | FGBL | Eurex | $2,770 | 20% |
Euro Bobl 5-Year | FGBM | Eurex | $1,250 | 20% |
Euro Schatz 2-Year | FGBS | Eurex | $475 | 20% |
Euro-Buxl | FGBX | Eurex | $5,950 | 20% |
Euro-BTP Futures | FBTP | Eurex | $5,150 | 20% |
Euro-Oat | FOAT | Eurex | $2,460 | 20% |
Short Sterling 3-Month | L | LIFFE | $500 | 20% |
Long Gilt | R | LIFFE | $1,855 | 20% |
OSE Tokyo 10-Year (BIG) | JGB | Osaka-Japan (JPX) | $7,800 | 20% |
SGX Mini 10-Year JGB | JB | Singapore Exchange (SGX) | $945 | 20% |
90-Day Bank Accept | IR | Sydney Futures Exchange (SFE) | $425 | 20% |
ASX 10-Year Aus Treasury Bond | XT | Sydney Futures Exchange (SFE) | $1,890 | 20% |
ASX 3-Year Aus Interest Rate Swap | YT | Sydney Futures Exchange (SFE) | $585 | 20% |
Name | Symbol | Exchange | Init. Margin | Maint. Margin | Day |
---|---|---|---|---|---|
Corn | ZC | CBOT | $2,475 | USD 2,250 | $1,237.5 |
KC Wheat | KE | CBOT | $3,740 | USD 3,400 | $3,740 |
Mini Corn | XC | CBOT | $495 | USD 450 | $495 |
Mini Soybeans | XB | CBOT | $880 | USD 800 | $880 |
Mini Wheat | XW | CBOT | $726 | USD 660 | $726 |
Minneapolis Wheat | MWE | MGE | $3,630 | USD 3,300 | $3,630 |
Oats | ZO | CBOT | $2,392 | USD 2,175 | $2,392 |
Rough Rice | ZR | CBOT | $1,512 | USD 1,375 | $1,512 |
Soybean Oil | ZL | CBOT | $2,970 | USD 2,700 | $1,485 |
Soybeans | ZS | CBOT | $4,400 | USD 4,000 | $2,200 |
Soymeal | ZM | CBOT | $2,750 | USD 2,500 | $1,375 |
Wheat | ZW | CBOT | $3,630 | USD 3,300 | $1,815 |
Softs
Softs | Symbol | Exchange | Maint. Margin | Day Trading Margins |
---|---|---|---|---|
Milk Class III | DC | CME/Globex | $720 | 20% |
Lumber | LB | CME/Globex | $3,300 | 20% |
Cocoa | CC | ICE Futures U.S. | $1,900 | 20% |
Cotton | CT | ICE Futures U.S. | $2,650 | 20% |
Coffee | KC | ICE Futures U.S. | $3,000 | 20% |
Orange Juice | OJ | ICE Futures U.S. | $1,260 | 20% |
Sugar #11 | SB | ICE Futures U.S. | $950 | 20% |
Meats
Meats | Symbol | Exchange | Maint. Margin | Day Trading Margins |
---|---|---|---|---|
Feeder Cattle | GF | CME/Globex | $4,050 | $2,800 |
Lean Hogs | HE | CME/Globex | $2,500 | $1,200 |
Live Cattle | LE | CME/Globex | $2,150 | $1,500 |
Disclaimer: The above information was drawn from sources believed to be reliable. Although it is believed that information provided is accurate, no guarantee is made. Express Futures Inc. assumes no responsibility for any errors or omissions. Liquidations due to insufficient margins: $25.00 USD/contract. If you have any questions, please contact us at 312-267-2935 or use the form below.
Disclaimer: Leverage also increases the risk associated with futures trading & only risk capital should be used for trading. Although highly liquid, futures markets can also experience rapid price fluctuations.
Additional Notes for Clients Using the Reduced Intraday Margin Rate
The day trade rate is valid from 9:00 a.m. until 4 p.m. ET Monday through Friday, for U.S. Equity Index Futures, as well as select Currency, Energy, Metals, and Interest Rate contracts. Clients must be above initial overnight margin or out of their positions before the day trade rate ends. Please consult the trade desk for additional details.
SPAN margins may be applied. Margins required may vary from the published rates.
By trading on margin (sometimes also referred to as “leveraging” or “gearing”) in your futures account, you acknowledge and agree that Express Futures Inc. may, in its sole discretion, and without prior notice to you, and at any time, impose a margin call and liquidate your account, in whole or part, to meet such margin call and otherwise satisfy or offset any debit item or debit balance, or decrease or eliminate leveraging, in your account. You further acknowledge and agree that Express Futures Inc. may, in its sole discretion, and without notice to you, liquidate any delivery month contract in your account to prevent or minimize the risk of delivery, and that such liquidation may occur five or more days, depending on the contract and Express Futures Inc. subjective evaluation of risk, prior to the delivery date.
Futures’ trading is not suitable for all investors and involves the risk of loss. The risk of loss in futures can be substantial. You should, therefore, carefully consider whether such trading is suitable for your financial condition. No statement within this webpage should be construed as a recommendation to buy or sell a futures contract or as investment advice.
The regular risks associated with trading commodity futures contracts also apply to the trading of Bitcoin futures. Customers choosing to trade Bitcoin futures should consider additional significant risks including, but not limited to: (a) Bitcoin futures contracts have a limited history of trading on U.S.-regulated futures exchanges ; (b) The price of the underlying Bitcoin and the indexes on which the futures contracts are based are highly volatile and unpredictable based on many factors; (c) Since a limited number of futures commissions merchants may offer trading in the Bitcoin futures contracts, there might be limited volume that might impact market efficiencies and price movements; and (d) The risk of loss can be substantial and could result in a customer losing more than the initial or maintenance margin requirement. As such, each customer should conduct his or her own due diligence prior to make a decision to trade in these products. See the link below from the National Futures Association for more information.
https://www.nfa.futures.org/investors/investor-advisory.html
Additionally, the Commodity Futures Trading Commission (“CFTC”) has made available a Virtual Currency Resource Web Page designed to educate and inform the public about this topic and its risks. See the link below for further information from the CFTC.