News Release

NYMEX to Change Margins for Natural Gas Basis and Index Swap Futures Contracts

Fri Nov 02 2007

NEW YORK, NY, November 2, 2007 -- The New York Mercantile Exchange, Inc. today announced margin changes for its natural gas basis and index swap futures contracts, effective at the close of business on November 5. 

Margins for the first month of the San Juan and Sumas basis swaps futures contracts will increase to $750 from $500 for clearing members, to $825 from $550 for members, and to $1,013 from $675 for customers. Margins for all other months will remain the same.

The margins for the first month of the Northwest Pipeline, Rockies basis swap futures contract will increase to $2,000 from $1,500 for clearing members, to $2,200 from $1,650 for members, and to $2,700 from $2,025 for customers. The margins for all other months will not change.

Margins for the first month of the Transco Zone 6 basis swap futures contract will increase to $300 from $200 for clearing members, to $330 from $220 for members, and to $405 from $270 for customers. The margins for the second to fifth months will increase to $500 from $300 for clearing members, to $550 from $330 for members, and to $675 from $405 for customers. Margins for the sixth to tenth months will increase to $1,000 from $500 for clearing members, to $1,100 from $550 for members, and to $1,350 from $675 for customers. The margins for all other months will remain the same.

Margins for the first month of the El Paso Permian natural gas index swap futures contract will increase to $2,000 from $1,500 for clearing members, to $2,200 from $1,650 for members, and to $2,700 from $2,025 for customers. The margins for the second to fifth months will increase to $500 from $200 for clearing members, to $550 from $220 for members, and to $675 from $270 for customers. Margins for all other months will not change.

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Forward Looking and Cautionary Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results.  Forward-looking statements involve a number of assumptions, risks, and uncertainties, any of which may cause actual results to differ materially from the anticipated, estimated, or projected results referenced in forward-looking statements.  In particular, the forward-looking statements of NYMEX Holdings, Inc., and its subsidiaries are subject to the following risks and uncertainties: the success and timing of new futures contracts and products; changes in political, economic, or industry conditions; the unfavorable resolution of material legal proceedings; the impact and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions, including without limitation, actions by the Commodity Futures Trading Commission; and terrorist activities and international hostilities, which may affect the general economy as well as oil and other commodity markets.  We assume no obligation to update or supplement our forward-looking statements.

 

Contact: Brenda Guzman 212-299-2436 or  Keil Decker, 212-299-2209

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