CME Clearing marks open contracts to market twice daily and settles payment obligations once in the morning and once in the afternoon of each business day. Morning settlement occurs at 08:30 ET and includes options premiums passed from buyer to seller and initial and variation margin (also known as initial and maintenance performance bonds, respectively) deposits. CME Clearing sends payment instructions to each settlement bank prior to the 08:30 ET deadline and requests a confirmation of payment prior to the deadline. Afternoon settlement includes maintenance performance bond deposits, which are due within one hour of CME Clearing requesting payment from its clearing members.
closed as off-topic by P. E. Dant, Nathan Tuggy, user3169, James K, shin Jun 19 '17 at 5:35
This question appears to be off-topic. The users who voted to close gave these specific reasons:
- "This question should include more details than have been provided here. Please edit to add the research you have done in your efforts to answer the question, or provide more context. See: Details, Please." – P. E. Dant, James K, shin
- "Basic questions on spelling, meaning or pronunciation are off-topic as they should be answered using a dictionary. See: Policy for questions that are entirely answerable with a dictionary" – Nathan Tuggy, user3169
due within time-range
means something needs to be done before the expiration of the stated time-range.
In your example, it means all payments need to be processed within one hour of payment requests. The automated speed in which financial transactions take place nowadays has led to something called straight-through-processing (STP) where an automated electronic pipeline is setup end-to-end.