Payment Of Margins

• Initial Margin
• Span Margin

Initial Margin

The initial margin is payable upfront by Clearing Members. Initial margins can be paid by members in the form of Cash, Letter of Guarantee and Term Deposits.

Minimum Initial Margins 

Sr.	Commodity	Minimum Initial Margin	Calendar Spread Benefit	Tender / Delivery Margin
1	Gold	$ 1,200 per contract	100%	$ 6,000 per contract
2	Silver	$ 1,000 per contract	100%	$ 5,000 per contract
3	Euro	$ 1,400 per contract	100%	No Tender Margin
4	Sterling Pound	$ 1,500 per contract	100%	No Tender Margin
5	Japanese Yen	$ 1,100 per contract	100%	No Tender Margin
6	Indian Rupee	$ 700 per contract	100%	No Tender Margin
7	Australian Dollar	$ 1,250 per contract	100%	No Tender Margin
8	Canadian Dollar	$ 1,000 per contract	100%	No Tender Margin
9	Swiss Franc	$ 800 per contract	100%	No Tender Margin
10	Fujairah Fuel Oil	$ 1,500 per contract	$ 240 per spread position	$ 7,500 per contract
11	WTI Light Sweet Crude Oil	$ 4,500 per contract	100%	No Tender Margin
12	Brent Crude Oil	$ 4,000 per contract	100%	No Tender Margin
13	Steel Rebar	$ 600 per contract	50%	$ 1,200 per contract

Special Margin: The Exchange, in case of additional volatility, may decide to impose special margin as deemed fit from time to time. The special margin could even be imposed on all open positions or any particular contract or commodity. Special margin imposition would be over and above other margins applicable (e.g. Initial Margins, MTM Margin etc).

SPAN Margin: 

Minimum Initial Margins based on SPAN 

Sr.	Commodity	Minimum Initial Margin	Calendar Spread Benefit	Tender / Delivery Margin
1	Gold	$ 1,200 per contract	100%	$ 6,000 per contract
2	Silver	$ 1,000 per contract	100%	$ 5,000 per contract
3	Euro	$ 1,400 per contract	100%	No Tender Margin
4	Sterling Pound	$ 1,500 per contract	100%	No Tender Margin
5	Japanese Yen	$ 1,000 per contract	100%	No Tender Margin
6	Indian Rupee	$ 700 per contract	100%	No Tender Margin
7	Australian Dollar	$ 1,250 per contract	100%	No Tender Margin
8	Canadian Dollar	$ 1,000 per contract	100%	No Tender Margin
9	Swiss Franc	$ 800 per contract	100%	No Tender Margin
10	Fujairah Fuel Oil	$ 1,500 per contract	$ 240 per spread position	$ 7,500 per contract
11	WTI Light Sweet Crude Oil	$ 4,500 per contract	100%	No Tender Margin
12	Brent Crude Oil	$ 4,000 per contract	100%	No Tender Margin
13	Steel Rebar	$ 600 per contract	50%	$ 1,200 per contract

Gold Option

Sr.	Commodity	Price Scan Range (PSR)	Voltality Scan Range (VSR)	Short Option Minimum
1	Gold Option	$ 1,250	2%	$10