Intraday Futures and Futures Options Intraday Margin

SONRAY GLOBAL Intraday Futures Margin and Futures Options Hours

All Futures products will be margined at 50% of the normal margin requirements during normal liquid trading hours for each product type.

Each day at 15 minutes before the close of the normal trading session for a product, margin requirements will revert back to the 100% requirement until the opening of normal trading hours the next day. Margin requirements will always be applied at 100% for all spread transactions.

50% Margin Cut-Off Time
Exchange	Normal Trading Margin Commences
ECBOT & Globex	The earlier of 15 minutes before open outcry hours for a product ends or 15:45 pm EST
OneChicago	15:45 EST
European Exchanges (with the exception of DTB)	15 minutes before product trading ends
DTB	18:45 CET for capital markets products, DAX, and ESX index futures. 17:15 CET for all other products. Portfolios with combined options and futures will convert to overnight margins based on earlier cut-off time. (Example: DAX options cut-off is 17:15, futures cut-off is 18:45. A futures-only portfolio will convert to overnight margins at 18:45. A combined portfolio of DAX options and DAX futures will convert at 17:15).
HKFE	16:00 HK Time

SONRAY GLOBAL Maintenance Margin Minimums

Futures:

50 of Futures currency/contract (i.e. $50/USD contract, €50/Euro contract).

Short Options:

50 of Futures currency/contract for 100 delta units
25 of Futures currency/contract for 0 delta units

Minimums for deltas between 100 and 0 will be interpolated based on the above schedule. Eurex contracts always assume a delta of 100.

SONRAY GLOBAL Initial Margin Minimums

125% of Maintenance Margin