Back in '08, when were Intraday margins restored?

March 23rd, 2020, 02:47 PM

Back in October 2008, when CME was raising margins due to volatility (VIX hitting an intraday high of 89.53 on 10/29/08] most futures brokers suspended intraday margin and overnight margins were observed intraday.

Who remembers when intraday margins were restored?

Was it when CME first lowered overnight margin on 3/20/09? Or was it much sooner?

March 24th, 2020, 07:32 PM

Here's what I found talking to some traders.

In many cases, many brokerages didn't do anything with regards to day trade margins. They kept them as is. Some double it for a time. Interactive Brokers was the most aggressive with changing the day trade margin to overnight exchange initial at all times.

As we see today, some are doing 2x day trade margins. Others 25% of overnight exchange initial. Others, overnight exchange initial.

Once the VIX starts a sustained downtrend which brings it below 50 or so, expect day trade margins to be fully restored.

Back in '08, when were Intraday margins restored?

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Back in '08, when were Intraday margins restored?