News Release

Exchange Increases Margins for Natural Gas Futures and Other Related Contracts

Thu Sep 01 2005

NEW YORK, N.Y., September 1, 2005 &151; The New York Mercantile Exchange, Inc., announced today it would change the margins for its natural gas, Henry Hub swap, NYMEX miNYsm natural gas, and Henry Hub penultimate swap futures contracts at the close of business on September 2.

Margins on the second month of the natural gas futures contracts will increase to $12,000 from $10,000 for clearing members, to $13,200 from $11,000 for members, and to $16,200 from $13,500 for customers. The margins on the third month will increase to $12,000 from $9,750 for clearing members, to $13,200 from $10,725 for members, and to $16,200 from $13,163 to customers. Margins for the fourth through sixth months will increase to $11,500 from $9,750 for clearing members, to $12,650 from $10,725 for members, and to $15,525 from $13,163 to customers. The margins for the seventh to 19th months will increase to $5,750 from $5,000 for clearing members, to $6,325 from $5,500 for members, and to $7,763 from $6,750 to customers. Margins on all other months will remain the same.

The margins on the second month of the Henry Hub swap and Henry Hub penultimate swap futures contracts will increase to $3,000 from $2,500 for clearing members, to $3,300 from $2,750 for members, and to $4,050 from $3,375 for customers. The margins on the third month will increase to $3,000 from $2,438 for clearing members, to $3,300 from $2,681 for members, and to $4,050 from $3,291 to customers. Margins for the fourth through sixth months will increase to $2,875 from $2,438 for clearing members, to $3,163 from $2,681 for members, and to $3,881 from $3,291 to customers. The margins for the seventh to 19th months will increase to $1,438 from $1,250 for clearing members, to $1,581 from $1,375 for members, and to $1,941 from $1,688 to customers. Margins on all other months will remain the same.

Margins on the second month of the NYMEX miNYsm natural gas futures contracts will increase to $6,000 from $5,000 for clearing members, to $6,600 from $5,500 for members, and to $8,100 from $6,750 for customers. The margins on all other months will remain the same.

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