CME has "clarified" possibly the worst memo it has ever released (the late Fri evening 1:1 margin). They really meant to say they were LOWERING all margins.
No kidding.
They just had a very crappy way of saying it, I guess. The memo sure didn't "read" that way.
So, Monday we'll see every Tom, Dick and Benny able to take on MORE risk for about 30% less cost.
Yeah, in the wake of MF Global's collapse, THAT makes a lot of sense.
Gotta love more of the Chicago way!!
Monday, 7 November 2011
CME "clarifies" things..............from Rico
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