Margins

Current margin rates

Last updated: 2012-05-08

Future contracts

• WIG20
  7,00 %
  
  
• mWIG40
  9,00 %
  
  
• ASSECOPOL
  20,00 %
  
  
• BOGDANKA
  20,00 %
  
  
• BORYSZEW
  20,00 %
  
  
• CDRED
  20,00 %
  
  
• GPW
  20,00 %
  
  
• GTC
  20,00 %
  
  
• JSW
  20,00 %
  
  
• KERNEL
  20,00 %
  
  
• KGHM
  20,00 %
  
  
• KOV
  20,00 %
  
  
• LOTOS
  20,00 %
  
  
• PBG
  25,00 %
  
  
• PEKAO
  20,00 %
  
  
• PETROLINVEST
  30,00 %
  
  
• PGE
  20,00 %
  
  
• PGNIG
  20,00 %
  
  
• PKN
  20,00 %
  
  
• PKO BP
  20,00 %
  
  
• PZU
  20,00 %
  
  
• TAURON
  20,00 %
  
  
• TPSA
  20,00 %
  
  
• TVN
  20,00 %
  
  
• EUR
  6,00 %
  
  
• USD
  7,00 %
  
  
• CHF
  8,00 %
  
  

Option contracts:

• WIG20
  15,00 %
  
  

The formula to calculate the required margin

Future contract

Required margin = margin rate × quantity × last daily settlement price × multiplier + margin of hedged positions

The margin of hedged positions appears only in the week of a contract expiration (hedged position = long position in one contract series and short position in an other series of the same contract). It increases day by day until reaching the level to cover the remaining contract series.

PUT Option contract

Required margin = quantity × ((2 × strike price - last closing price of underlying) × margin rate × 1.5 + last closing price of the contract) × multiplier

CALL Option contract

Required margin = quantity × ((2 × last closing price of underlying - strike price) × margin rate × 1.5 + last closing price of the contract) × multiplier

Where multiplier = number of underlying items per contract