Financial & Collateral Management

Acceptable Collateral

Learn more about the comprehensive CME Clearing collateral management program.

Cash

U.S. Dollars

  • Acceptable for Base, IRS, Guaranty Fund, and CME's cross-margin program

Foreign Currency

  • Acceptable for Base and IRS
  • $250 million USDE limit across the clearing member and affiliates on all foreign currency meeting a requirement in a different currency. Upon request, CMFs may deposit additional CAD, EUR, GBP, and JPY cash up to a $500 million USDE FX cash mismatch limit. Please contact ClearingHouseFinancial@cmegroup.com for more information. 
  • Offshore Chinese renminbi is capped at $200 million USDE across the clearing member and affiliates.

Haircut Schedule

  • A haircut is applied to cash when cash is used to meet a requirement based in a different currency. Please see the Cross-Currency Haircut Percentages file for applicable cross-currency haircuts applied to all assets.
  • The haircut is determined by the asset currency, except for USD assets where the haircut is determined by the requirement currency.
No matching records found.

ADDITIONAL CASH RESOURCES

Corporate Bonds

CME Clearing accepts select corporate bonds directly via DTC or through a collateral custodian (BBH).

  • Acceptable for Base and IRS
  • Capped at $2 billion USDE across the clearing member and affiliates
  • Accepted either directly via DTC or through a collateral custodian: Brown Brothers Harriman & Co.

Concentration Limits

  • Concentration limit of $50 million or 2.5% of amount outstanding per issuance, whichever is less
  • Concentration limit of $200 million per family
  • Concentration limit of $500 million per industry sector
No matching records found.
No matching records found.

ADDITIONAL RESOURCES

CME DataMine

  • CME DataMine hosts the acceptable list of Corporate Bonds. Click here to access.
  • Instructions to access the eligible collateral lists via CME DataMine can be found in the Access Guide.

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages file found under Additional Resources.

Foreign Sovereign Debt

CME Clearing accepts select foreign sovereign debt (denominated in the issuing country's local currency) from Australia, Canada, France, Germany, Japan, Mexico, Singapore, Sweden, and the United Kingdom as collateral. 

  • Acceptable for Base and IRS
No matching records found.

Haircut Schedule

No matching records found.

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages file found under Additional Resources.

Agencies & MBS

CME Clearing accepts select U.S. government agencies and mortgage backed securities as collateral. See below for more information.

US Government Agencies

  • Acceptable for Base and IRS
  • Capped at $2 billion USDE across the clearing member and affiliates
  • Discount notes (maturity no more than 12 months) and coupon instruments (GSEOTH) issued by:
    • Federal Farm Credit Banks
    • Federal Home Loan Bank System
    • Federal Home Loan Mortgage Corp.
    • Federal National Mortgage Association
  • Issue size must be greater than $1 billion for coupon instruments (GSEOTH)
  • Only permissible derivative features are callable and floating rate

Haircut Schedule

No matching records found.

Mortgage Backed Securities (MBS)

  • Acceptable for Base and IRS
  • Capped at $1.4 billion USDE across the clearing member and affiliates
  • Eligible issuers include:
    • Fannie Mae
    • Freddie Mac
    • Ginnie Mae
  • MBS must be backed by 15- or 30-year fixed rate conventional loans only

Haircut Schedule

No matching records found.

ADDITIONAL RESOURCES

Mortgage Backed Securities: FNMA, FHLMC, GNMA

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages file found under Additional Resources.

IEF2 – Money Market Funds

CME Clearing accepts government money market mutual funds through its IEF2 program.

  • Acceptable for Base and IRS
  • Capped at $5 billion USDE across the clearing member and affiliates
  • Select government money market mutual funds
  • Must be an IEF2 participant

Haircut Schedule

  • 2% haircut applied

For more information, see the IEF2 program page.

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages file found under Additional Resources.

Gold

CME Clearing accepts COMEX gold warrants and London gold bullion as collateral. 

  • Acceptable for Base and IRS
  • Capped at $1 billion USDE across the clearing member and affiliates
  • Limit inclusive of COMEX gold warrants & London gold bullion
  • London gold bullion is limited to a clearing member's Non-Segregated (House) requirement
  • COMEX gold warrants are accepted for USD-denominated performance bond requirements
  • CME does not accept Elemetal (ELEM) and Al Ethiad (ALET) COMEX brands as performance bond

Haircut Schedule 

  • 15% haircut applied to the market value

ADDITIONAL RESOURCES

Material related to the acceptance of COMEX gold warrants:

  • Information sheet can be found here

  • Frequently Asked Questions can be found here

Pursuant to CME Rule 817, COMEX gold warrants may become subject to a lien in favor of the Exchange’s liquidity lenders. Consistent with this rule, and in order for a clearing member to be eligible to participate in the COMEX gold warrants collateral program, a UCC-1 financing statement is filed against the clearing member’s collateral on deposit. Please contact creditrisk@cmegroup.com for questions or more information. 

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages file found under Additional Resources.

Treasuries, TIPS, and TSTRIPS

CME Clearing accepts U.S. Treasuries, including bills, TFRNs, notes, and bonds, as well as TIPS and TSTRIPS.

Treasuries

  • Acceptable for Base, IRS and Guaranty Fund
  • Acceptable for the CME cross-margin program
    • U.S. Treasury bills
    • U.S. Treasury notes
    • U.S. Treasury bonds
  • U.S. Treasury Bonds may not exceed 10 years’ time to maturity for Guaranty Fund

Haircut Schedule

No matching records found.
No matching records found.

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages file found under the Collateral Forms section, in the Data Files listing, of the Financial and Collateral Management page. 

TIPS and TSTRIPS

  • Acceptable for Base and IRS
  • TSTRIPS capped at $1 billion USDE across the clearing member and affiliates
  • TIPS capped at $1 billion USDE across the clearing member and affiliates

Haircut Schedule

No matching records found.

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages filefound under the Collateral Forms section, in the Data Files listing, of the Financial and Collateral Management page.

Stocks and Exchange-Traded Funds

CME Clearing accepts select stocks and ETFs.

Stocks

  • Acceptable for Base and IRS
  • Capped at $500 million USDE across the clearing member and affiliates

Stock Haircut Schedule

No matching records found.
  • 30% haircut applied to the market value

ETFs

  • Acceptable for Base and IRS
  • Capped at $500 million USDE across the clearing member and affiliates

ETF Haircut Schedule

  • 25% haircut applied to the market value

ADDITIONAL RESOURCES

Additional stock and ETF acceptable criteria:

CME DataMine

  • View the acceptable lists of stocks and ETFs in CME DataMine.
  • Instructions to access the eligible collateral lists via CME DataMine can be found in the Access Guide.

All assets that are utilized to meet PB requirements in different currencies will be subject to an additional cross-currency haircut. For applicable haircuts, please see the Cross-Currency Haircut Percentages file found under the Collateral Forms section, in the Data Files listing, of the Financial and Collateral Management page. 

Access acceptable collateral lists of corporate bonds, stocks, ETFs, and U.S. ETFs.

View in DataMine

View collateral accepted by our IEF2 program for govt. money market mutual funds.

Get details

Summaries of acceptable collateral

View downloadable summaries of acceptable collateral requirements, eligible haircuts, and other important information related to collateral supported by CME Clearing.

Base

View a summary of acceptable collateral for base products (e.g., futures and options products).

IRS

View a summary of acceptable collateral for Interest Rate swaps and swaptions cleared through CME Clearing.

Cross Margin

View a summary of acceptable collateral for products transacted as part of the CME Clearing/OCC relationship.

FEX

View a summary of acceptable collateral for products transacted as part of CME Clearing’s relationship with the Financial and Energy Exchange Group (FEX) of Australia.

Guaranty Fund

View a summary of acceptable collateral for Guaranty Fund financial safeguard commitments associated with clearing memberships.

Financial and regulatory surveillance

We monitor the capital requirements of clearing members and assess their internal controls, risk-management policies, and back-office operations.

Operations and deliveries

We maintain a comprehensive resource center to help you understand the clearing process – from accepted trade types, payment systems, transaction timelines, and more.

Clearing

CME Clearing serves as the neutral counterparty to every futures, option, and OTC trade, ensuring market integrity and reducing risk. Learn about the integral role we play in the global marketplace.

Explore CME Clearing

Margin Services

Get insight on the institution-grade tools we use to reduce bilateral counterparty credit risk and free up trading capital, optimizing margin efficiency.

Explore Margin Services

Risk Management

We offer a comprehensive set of sophisticated tools and safeguards to protect customers and clearing firms and maintain market integrity.

Explore Risk Management

Connect with an expert

We’re here to help you. For more information or assistance, contact the Clearing support team and we’ll get back to you as soon as possible.

U.S.
Email
company
international
MARKET REGULATION
OUR EXCHANGES

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2025 CME Group Inc. All rights reserved.