Intercontinental Exchange : Margin Update for ICE Futures U.S. Contracts

ICE Futures U.S.

7 March 2024

MARGIN UPDATE FOR ICE FUTURES U.S. CONTRACTS

The Exchange is changing the margin requirements for the contract listed below effective at the close of business on March 7, 2024. Accordingly, Firms carrying accounts with positions in the following contracts should be collecting margin using the updated ICE® Risk Model margin parameters:

*** MARGIN UPDATE EFFECTIVE MARCH 7, 2024 ***

• Inter-MonthAdd-Ons

Commodity Code

Market

Leg1 Expiry

Leg2 Expiry

Initial Margin

Requirement

CT

Cotton No.2 Futures

Jul 24

Oct 24

1,332 USD

CT

Cotton No.2 Futures

Jul 24

Mar 25

1,644 USD

CT

Cotton No.2 Futures

Jul 24

May 25

1,883 USD

CT

Cotton No.2 Futures

Jul 24

Jul 25

1,805 USD

CT

Cotton No.2 Futures

Jul 24

Oct 25

1,861 USD

KC

Coffee "C" Futures

Jul 24

Sep 24

197 USD

SB

Sugar No. 11 Futures

Mar 25

May 25

185 USD

SB

Sugar No. 11 Futures

Mar 25

Jul 26

735 USD

SB

Sugar No. 11 Futures

Mar 25

Oct 26

840 USD

SB

Sugar No. 11 Futures

Jul 25

May 26

394 USD

SB

Sugar No. 11 Futures

Jul 25

Jul 26

498 USD

SB

Sugar No. 11 Futures

Jul 25

Oct 26

622 USD

SB

Sugar No. 11 Futures

Oct 25

May 26

276 USD

SB

Sugar No. 11 Futures

Oct 25

Jul 26

422 USD

SB

Sugar No. 11 Futures

Oct 25

Oct 26

546 USD

SB

Sugar No. 11 Futures

Mar 26

May 26

155 USD

SB

Sugar No. 11 Futures

Mar 26

Jul 26

301 USD

SB

Sugar No. 11 Futures

Mar 26

Oct 26

424 USD

SB

Sugar No. 11 Futures

May 26

Jul 26

145 USD

SB

Sugar No. 11 Futures

May 26

Oct 26

269 USD

SB

Sugar No. 11 Futures

Jul 26

Oct 26

129 D

View All Notices / Contact Us /Media Inquiries

© 2024 Intercontinental Exchange, Inc. The following are trademarks of Intercontinental Exchange, Inc. and/or its affiliated companies: Intercontinental Exchange, ICE, New York Stock

Exchange and NYSE. For more information regarding trademarks owned by Intercontinental Exchange, Inc. and/or its affiliated companies see: intercontinentalexchange.com/terms-of-use

Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key information Documents (KIDS)," commencing January 1, 2019.

• Volatility Scan Ranges

			Volatility	Volatility
Commodity Code	Market	Expiry	Scan Range	Scan Range
			- Up	- Down
CC	Cocoa Futures	Mar 25	52%	35%
CT	Cotton No.2 Futures	May 24	37%	15%

• Butterfly Spread Add-Ons

Commodity Code

Market

Leg1

Leg2

Leg3

Initial Margin

Expiry

Expiry

Expiry

Requirement

CC

Cocoa Futures

May 24

Jul 24

Sep 24

425 USD

CC

Cocoa Futures

Mar 25

May 25

Jul 25

189 USD

SB

Sugar No. 11 Futures

May 24

Jul 24

Oct 24

237 USD

SB

Sugar No. 11 Futures

Oct 24

Mar 25

May 25

124 USD

SB

Sugar No. 11 Futures

Mar 25

May 25

Jul 25

157 USD

A complete grid of margin rates for all ICE Futures U.S. Agricultural, Index, and Financial Products can be accessed by Click herefor a link.

For each of the IFUS Contracts, ICE Clear U.S. ("ICUS") determines the margin rate that is charged to clearing members that carry positions in these contracts. The Exchange minimum margin requirements for outright and straddle positions are based upon the ICUS margin rate charged to clearing members, as follows:

For all accounts, clearing members are required to identify categories of customers with heightened risk profiles and collect initial margin for each account at a level that exceeds the specified clearing original margin requirement by an amount commensurate with the risk presented by each such account. Exchange Carrying Firms are required to collect initial margin on this same basis.

For all accounts, the Exchange minimum Maintenance Margin is equal to the ICUS Margin rate for each respective IFUS Contract.

FOR MORE INFORMATION

ICE Clear US

[e-mail]

1. 748-4001

1. 836-6777

View All Notices / Contact Us /Media Inquiries

© 2024 Intercontinental Exchange, Inc. The following are trademarks of Intercontinental Exchange, Inc. and/or its affiliated companies: Intercontinental Exchange, ICE, New York Stock

Exchange and NYSE. For more information regarding trademarks owned by Intercontinental Exchange, Inc. and/or its affiliated companies see: intercontinentalexchange.com/terms-of-use

Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key information Documents (KIDS)," commencing January 1, 2019.