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Emini Micro margin and brokers
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Emini Micro margin and brokers

  #1 (permalink)
Paris + France
 
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Emini Micro margin and brokers

Hello,
I have several questions about margin, in the context of let's say s&p500.

1) I read on Ampfutures that S&P500 Micro emini requires $40.00 DayTrade margin.
I asked to Interactive brokers and they said for this contract they require $452.25 intraday margin.
I guess it is the same margin: you need that sum in your account to take a trade you will sell intraday.
Question is: why this HUGE x10 difference between brokers?

2) On the official CME site:
https://www.cmegroup.com/education/frequently-asked-questions-micro-e-mini-equity-index-futures.html
it is said Initial $690 maintainance $630.
It's not the same as what various brokers require.
How can this be? Isn't margin requirements supposed to be set officially by the exchange? How can brokers set whatever margin they want?

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  #3 (permalink)
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brakkar View Post
Hello,
I have several questions about margin, in the context of let's say s&p500.

1) I read on Ampfutures that S&P500 Micro emini requires $40.00 DayTrade margin.
I asked to Interactive brokers and they said for this contract they require $452.25 intraday margin.
I guess it is the same margin: you need that sum in your account to take a trade you will sell intraday.
Question is: why this HUGE x10 difference between brokers?

2) On the official CME site:
https://www.cmegroup.com/education/frequently-asked-questions-micro-e-mini-equity-index-futures.html
it is said Initial $690 maintainance $630.
It's not the same as what various brokers require.
How can this be? Isn't margin requirements supposed to be set officially by the exchange? How can brokers set whatever margin they want?

The exchange sets "overnight" margin -- what's required if you hold a position past the close, into the next trading day.

Brokers are free to set any margin they like for day trades -- trades closed before the close.

It varies due to the different brokers' policies about risk.

Bob.

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