Developed in 1988, CME's Standard Portfolio Analysis of Risk (SPAN®) system for calculating performance bond requirements was the first futures industry performance bond system ever to calculate requirements exclusively on the basis of overall portfolio risk. Since its implementation, SPAN has become the industry standard and is now the official performance bond mechanism of nearly every registered futures exchange and clearing organization in the United States, and many global entities.

Click here to view a copy of the CME SPAN brochure, which contains information on the history and methodology of CME SPAN, as well as a description of the available CME SPAN software products.