DERIVATIVES - COMMODITY FUTURES AND COMMODITY OPTIONS

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					                                                                                                                          No: 008




ACH & ASX Markets Notice                 DERIVATIVES – COMMODITY FUTURES AND
                                         COMMODITY OPTIONS
Date: 17 July, 2009
Key topics                               MARGIN INTERVALS FOR OPTIONS OVER COMMODITY FUTURES AND INITIAL
1. Margin Intervals for Options          MARGINS FOR COMMODITY FUTURES
over Grain Futures and Initial
Margins for Grain Futures.               ACH has reviewed the Margin Intervals for Options over Commodity Futures and Initial
                                         Margins for Commodity Futures and has amended rates as set out in the following table.
                                         These rates will be effective for open positions as at close of business 23 July 2009,
                                         impacting on margin calls made on 24 July 2009.


                                         Initial Margin for Commodity Futures

Authorised by:
                                                                                   NEW
David Seare                                                                                   CURRENT
                                                                                  INITIAL
                                                    NAME                                       INITIAL          CHANGE
                                                                      CLASS       MARGIN
                                                                                              MARGIN ($)
ASX contacts                                                                        ($)
                                           Australian Canola Future    ACMF        $660           $260              Up
Eddie Farah                                Australian Feed Barley
                                                                          AFBF      $300          $320            Down
                                           Future
                                           Australian Sorghum
                                                                       ASMF         $300          $300          No Change
                                           Future
                                           Australian Milling Wheat
                                                                       AWMF         $360          $420            Down
                                           Future
                                           19.5 micron merino wool
                                                                       54WF        $1,500        $1,500         No Change
Telephone                                  of China type 54 Future
                                           21.0 micron merino wool
(02) 9227 0236                                                         55WF        $1,500        $1,500         No Change
                                           of China type 55 Future
                                           22.6 micron merino wool
                                                                       56WF        $1,500        $1,500         No Change
Australian Clearing House Pty Ltd          Future
ABN 48 001 314 503
ASX Limited
ABN 98 008 624 691                       Inter month Spreads for Commodity Futures
Exchange Centre
20 Bridge Street
Sydney NSW 2000
                                                                                                              INTER-MONTH
PO Box H227                                                                                 INTER-MONTH
Australia Square                                                                                                 REMOTE
NSW 1215                                               NAME                                 SPOT SPREAD
                                                                                 CLASS                           SPREAD
Telephone 1800 814 051                                                                        DOLLARS
Intl Facsimile 61 2 9251 5525                                                                                   DOLLARS
Facsimile 1300 300 577                    Australian Canola Future               ACMF           $600              $600
Internet: http://www.asx.com.au
DX 10427 Stock Exchange Sydney
                                          Australian Feed Barley Future          AFBF           $180               $200
                                          Australian Sorghum Future              ASMF           $180               $180
                                          Australian Milling Wheat Future        AWMF           $240               $220
 No responsibility is accepted for any
 inaccuracies contained in the matter
 published.




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                                                                                                                                    No: 008




Margin Intervals for Options over Commodity Futures


                                                                   NEW
                                                                                   CURRENT
                                                                 MARGIN
                           NAME                                                     MARGIN                    CHANGE
                                                    CLASS       INTERVAL
                                                                                 INTERVAL (%)
                                                                    (%)
             Option over ASX Australian
                                                    ACMO           6.0%               2.4%                        Up
             Canola Future
             Option over ASX Australian
                                                     AFBO          6.9%               7.1%                      Down
             Feed Barley Future
             Option over ASX Australian
                                                    ASMO           7.4%               6.5%                        Up
             Sorghum Future
             Option over ASX Australian
                                                    AWMO           6.6%               6.9%                      Down
             Milling Wheat Future


The interest rate paid to Participants on cash margins will reflect the earnings rate earned by investing the Cash Cover on a short term or 11.00am
basis, minus a 0.65 percent administration fee. The current interest rate is displayed in the Derivatives Clearing System.




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