News Release

NYMEX to Change Margins for Natural Gas Basis Swap Futures Contracts

Wed Feb 28 2007

NEW YORK, N.Y., February 28, 2007 — The New York Mercantile Exchange, Inc. today announced margin changes for several of its natural gas basis swap futures contracts at the close of business on March 1.

Margins for the first month of the CIG Rockies natural gas basis swap futures contract will decrease to $1,500 from $1,750 for clearing members, to $1,650 from $1,925 for members, and to $2,025 from $2,363 for customers. The margins for the second month will decrease to $1,200 from $1,250 for clearing members, to $1,320 from $1,375 for members, and to $1,620 from $1,688 for customers. Margins for the third to sixth months will decrease to $750 from $900 for clearing members, to $825 from $990 for members, and to $1,013 from $1,215 for customers. The margins for all other months will remain the same.

Margins for the first month of the Alberta gas basis swap futures contract will decrease to $1,500 from $1,750 for clearing members, to $1,650 from $1,925 for members, and to $2,025 from $2,363 for customers. The margins for the second month will decrease to $1,200 from $1,250 for clearing members, to $1,320 from $1,375 for members, and to $1,620 from $1,688 for customers. Margins for the third to sixth months 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 unchanged.

The margins for the first month of the ANR, Louisiana basis swap futures contract will remain the same. Margins for all other months will increase to $200 from $75 for clearing members, to $220 from $83 for members, and to $270 from $101 for customers.

Margins for the first month of the ANR Oklahoma basis swap futures contract will decrease to $750 from $1,000 for clearing members, to $825 from $1,100 for members, and to $1,013 from $1,350 for customers. Margins for all other months will decrease to $400 from $500 for clearing members, to $440 from $550 for members, and to $540 from $675 for customers.

The margins for the first and second months of the MichCon basis swap futures contract will decrease to $300 from $400 for clearing members, to $330 from $440 for members, and to $405 from $540 for customers. Margins for the third through fifth months will decrease to $300 from $500 for clearing members, to $330 from $550 for members, and to $405 from $675 for customers. The margins for all other months will decrease to $300 from $400 for clearing members, to $330 from $440 for members, and to $405 from $540 for customers.

Margins for the first month of the Houston Ship Channel basis swap futures contract will decrease to $500 from $750 for clearing members, to $550 from $825 for members, and to $675 from $1,013 for customers. The margins for the second month will decrease to $400 from $500 for clearing members, to $440 from $550 for members, and to $540 from $675 for customers. Margins for the third to sixth months will decrease to $300 from $500 for clearing members, to $330 from $550 for members, and to $405 from $675 for customers. The margins for the seventh to 12th months will decrease to $200 from $600 clearing members, to $220 from $660 for members, and to $270 from $810 for customers. Margins for all other months will decrease to $100 from $300 for clearing members, to $110 from $330 for members, and to $135 from $405 for customers.

The margins for the first month of the San Juan basis swap futures contract will decrease to $750 from $1,000 for clearing members, to $825 from $1,100 for members, and to $1,013 from $1,350 for customers. Margins for the second month will decrease to $500 from $600 for clearing members, to $550 from $660 for members, and to $675 from $810 for customers. The margins for the third through sixth months will decrease to $400 from $500 for clearing members, to $440 from $550 for members, and to $540 from $675 for customers. Margins for the seventh through 12th months will decrease to $300 from $500 for clearing members, to $330 from $550 for members, and to $405 from $675 for customers. The margins for all other months will remain unchanged.

Margins for the first and second months of the SUMAS basis swap futures contract will decrease to $800 from $900 for clearing members, to $880 from $990 for members, and to $1,080 from $1,215 for customers. The margins for the third through fifth months will decrease to $700 from $750 for clearing members, to $770 from $825 for members, and to $945 from $1,013 for customers. The margins for all other months will decrease to $500 from $550 for clearing members, to $550 from $605 for members, and to $675 from $743 for customers.

The margins for the first month of the NGPL Mid-Continent basis swap futures contract will decrease to $600 from $750 for clearing members, to $660 from $825 for members, and to $810 from $1,013 for customers. Margins for the second month will remain the unchanged. The margins for the third through sixth months will decrease to $400 from $600 for clearing members, to $440 from $660 for members, and to $540 from $810 for customers. The margins for the seventh to 12th months will decrease to $300 from $550 for clearing members, to $330 from $605 for members, and to $405 from $743 for customers. Margins for all other months will remain the same.

Margins for the first month of the Northwest Pipeline, Rockies basis swap futures contract will decrease to $1,500 from $1,750 for clearing members, to $1,650 from $1,925 for members, and to $2,025 from $2,363 for customers. The margins for the second month will decrease to $500 from $1,250 for clearing members, to $550 from $1,375 for members, and to $675 from $1,688 for customers. The margins for the third to sixth months will decrease to $500 from $900 for clearing members, to $550 from $990 for members, and to $675 from $1,215 for customers. Margins for the seventh through 12th months will decrease to $300 from $600 for clearing members, to $330 from $660 for members, and to $405 from $810 for customers. The margins for all other months will decrease to $300 from $500 for clearing members, to $330 from $550 for members, and to $405 for $675 for customers.

The margins for the first month of the SoCal basis swap futures contract will decrease to $750 from $1,000 for clearing members, to $825 from $1,100 for members, and to $1,013 from $1,350 for customers. Margins for the second through sixth months will decrease to $500 from $700 for clearing members, to $550 from $770 for members, and to $675 from $945 for customers. The margins for the seventh through 12th months will decrease to $300 from $500 for clearing members, to $330 from $550 for members, and to $405 from $675 for customers. Margins for all other months will decrease to $300 from $400 for clearing members, to $330 from $440 for members, and to $405 from $540 for customers.

Margins for the first month of the Waha basis swap futures contract will decrease to $750 from $1,000 for clearing members, to $825 from $1,100 for members, and to $1,013 from $1,350 for customers. The margins for the second month will decrease to $400 from $500 for clearing members, to $440 from $550 for members, and to $540 from $675 for customers. Margins for the third through 12th months will decrease to $400 from $500 for clearing members, to $440 from $550 for members, and to $540 from $675 for customers. The margins for all other months will decrease to $200 from $300 for clearing members, to $220 from $330 for members, and to $270 from $405 for customers.

The margins for the first and second months of the PGE&E Malin basis swap futures contract will decrease to $800 from $1,000 for clearing members, to $880 from $1,100 for members, and to $1,080 from $1,350 for customers. Margins for the third through fifth months will decrease to $600 from $750 for members, to $660 from $825 for members, and to $810 from $1,013 for customers. The margins for all other months will decrease to $400 from $500 for clearing members, to $440 from $550 for members, and to $540 from $675 for customers.

Margins for the first and second months of the PGE&E Citygate basis swap futures contract will decrease to $800 from $900 for clearing members, to $880 from $990 for members, and to $1,080 from $1,215 for customers. The margins for the third through fifth months will decrease to $600 from $750 for clearing members, to $660 from $825 for members, and to $810 from $1,013 for customers. Margins for all other months will decrease to $400 from $500 for clearing members, to $440 from $550 for members, and to $540 from $675 for customers.

The margins for the first and second months of the Northern Natural Gas Demarcation swap futures contract will decrease to $700 from $800 for clearing members, to $770 from $880 for members, and to $945 from $1,080 for customers. Margins for the third through fifth months will remain unchanged. The margins for all other months will decrease to $400 from $500 for clearing members, to $440 from $550 for members, and to $540 from $675 for customers.

Margins for the first and second months of the Northern Natural Gas Ventura, Iowa basis swap futures contract will decrease to $600 from $700 for clearing members, to $660 from $770 for members, and to $810 from $945 for customers. The margins for the third through fifth months will decrease to $300 from $400 for clearing members, to $330 from $440 for members, and to $405 from $540 for customers. Margins for all other months will decrease to $300 from $500 for clearing members, to $330 from $550 for members, and to $405 from $675 for customers.

The margins for the first and second months of the Permian basis swap futures contract will decrease to $500 from $700 for clearing members, to $550 from $770 for members, and to $675 from $945 for customers. Margins for the third through sixth months will decrease to $500 from $800 for clearing members, to $550 from $880 for members, and to $675 from $1,080 for customers. The margins for other months will remain the same.

# # #


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: Steffanie Marchese, 212-299-2455 or  Keil Decker, 212-299-2209

Corporate Communications

+1 312 930 3434
Email