CMC Increasing Margin Requirements
September 18, 2009Andy No Comments »Communication letter from CMC Markets follows -:
Dear Client,
CMC Markets periodically reviews the levels of margin required by its clients to open and maintain positions on their trading accounts.
As a result of our most recent review we are making some important changes to the margin levels applicable to your CMC Markets account – these changes are explained below. Please take time to read and understand these changes which may affect you. Please note that all times are London Time.
Summary of changes:
- As of the date of this communication (11 September 2009) we are giving you notice that we will be increasing our margin levels for many of our share instruments.
- The changes will apply to CFD, Spread bet and Fixed Risk accounts held with CMC Markets.
- You have until the market opening time for the relevant instrument on Monday 21 September 2009 to meet the increased margin levels for these instruments.
Share instruments affected:
In summary, the margin levels for our share instruments will change as follows (the figures in brackets denote the margin levels for Fixed Risk accounts) -:
| Market | Old margin* | New Margin | New margin takes effect on: | ||||
| Australia |
5%
|
(10%)
|
10%
|
(20%)
|
21 Sept 0100 am | ||
| Canada |
5%
|
(10%)
|
10%
|
(20%)
|
21 Sept 1430 pm | ||
| Egypt and South Africa |
10%
|
(20%)
|
15%
|
(30%)
|
21 Sept 0800 am | ||
| Europe**, Scandinavia and Russia |
3% |
(6%)
|
15% |
(20%)
|
21 Sept 0800 am | ||
|
4%
|
(8%)
|
10%
|
(20%)
|
||||
|
5%
|
(10%)
|
10%
|
(20%)
|
||||
|
8%
|
(10%)
|
10%
|
(20%)
|
||||
|
10%
|
(20%)
|
15%
|
(30%)
|
||||
| Hong Kong |
5% |
(10%)
|
10% |
(20%)
|
21 Sept 0300 am | ||
|
10%
|
(20%)
|
15%
|
(30%)
|
||||
| Japan |
6%
|
(12%)
|
10%
|
(20%)
|
21 Sept 0100 am | ||
| New Zealand |
5% |
(10%)
|
10% |
(20%)
|
20 Sept 2200 pm | ||
|
10%
|
(20%)
|
15%
|
(30%)
|
||||
| Singapore |
10%
|
(20%)
|
15%
|
(30%)
|
21 Sept 0200 am | ||
| UK |
3% |
(6%)
|
10% |
(20%)
|
21 Sept 0800 am | ||
|
5%
|
(10%)
|
10% |
(20%)
|
||||
|
8%
|
(16%)
|
10% |
(20%)
|
||||
|
10%
|
(20%)
|
15% |
(30%)
|
||||
| US |
5% |
(10%)
|
10% |
(20%)
|
21 Sept 1300 pm | ||
*Any margin levels for share instruments that are currently above these levels will not change. **In addition, the margin levels for the ten largest Italian shares will remain at 5%.
The above table is a summary only. Please click here to see a list of the specific instruments that are affected.
So much for CMC Markets having bragged about their stock margins staying the same when other spread betting providers increased margin requirements – they are now joining the fray…
Tags: CMC, CMC Markets, cmcmarkets, margins
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