CME targets year-end rollout of new margin model

Clearing house testing new Span 2 framework with members, more work needed with vendors

CME Group
Photo: Marco Verch/Flickr

CME Group hopes to begin rolling out its new value-at-risk-based margin framework in the fourth quarter of this year, after the coronavirus pandemic and a logjam at key vendors delayed its long-planned launch.

Span 2 was initially slated to launch in the first quarter of 2020, with the bourse’s suite of energy products set to be the first asset class margined according to the new methodology. In late 2019, this date was pushed back to the third quarter of 2020, with the pandemic then causing a

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