News Release

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

Fri Jan 04 2008

NEW YORK, N.Y., January 4, 2008 -- The New York Mercantile Exchange, Inc. today announced margin changes for some of its natural gas basis and index swap futures contracts, beginning at the close of business on January 7.

Margins for the first month of the CIG Rockies basis swap futures contract will decrease to $1,800 from $2,000 for clearing members, to $1,980 from $2,200 for members, and to $2,430 from $2,700 for customers. Margins for the second to sixth months will decrease to $2,000 from $2,500 for clearing members, to $2,200 from $2,750 for members, and to $2,700 from $3,375 for customers. Margins for the seventh to ninth 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 the 10th to 16th 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 all other months will remain unchanged.

Margins for the first month of the Florida gas transmission zone 3 basis swap futures contract will decrease to $200 from $300 for clearing members, to $200 from $330 for members, and to $270 from $405 for customers. Margins for the second month will remain unchanged. Margins for all other months will decrease to $150 from $200 for clearing members, to $165 from $220 for members, and to $203 from $270 for customers. 

Margins for the first month of Alberta gas basis swap futures contract will decrease to $1,000 from $1,100 for clearing members, to $1,100 from $1,210 for members, and to $1,350 from $1,485 for customers. Margins for the second month will decrease to $800 from $900 for clearing members, to $880 from $990 for members, and to $1,080 from $1,215 for customers. Margins for the third to sixth 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 remain unchanged.

Margins for the San Juan 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 to sixth months will decrease to $250 from $300 for clearing members, to $275 from $330 for members, and to $338 from $405 for customers. Margins for all other months will remain unchanged.

Margins for the first month of the Northwest Pipeline, Rockies basis swap futures contract will decrease to $1,500 from $2,000 for clearing members, to $1,650 from $2,200 for members, and to $2,025 from $2,700 for customers. Margins for the second to sixth months will decrease to $1,200 from $1,500 for clearing members, to $1,320 from $1,650 for members, and to $1,620 from $2,025 for customers. Margins for the seventh to ninth months will decrease to $500 from $800 for clearing members, to $550 from $880 for members, and to $675 from $1,080 for customers. Margins for the 10th to 16th months will decrease to $200 from $300 for clearing members, to $220 from $330 for members, and to $270 from $405 for customers. Margins for all other months will remain unchanged.

Margins for the Waha basis 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 second month will remain unchanged. Margins for the third to sixth months will decrease to $200 from $300 for clearing members, to $220 from $330 for members, and to $270 from $405 for customers. Margins for all other months will remain unchanged.

Margins for the first month of the Texas Eastern Zone M-3 basis swap futures contract 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. Margins for the second to fifth months will increase to $500 from $250 for clearing members, to $550 from $275 for members, and to $675 from $338 for customers. Margins for the sixth to 10th 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 11th to 17th months will remain unchanged. Margins for all other months will decrease to $200 from $250 for clearing members, to $220 from $275 for members, and to $270 from $338 for customers. 

Margins for the first month of the Transco Zone 6 basis swap futures contract will increase to $4,000 from $750 for clearing members, to $4,400 from $825 for members, and to $5,400 from $1,013 for customers. Margins for the second to fifth months will increase to $3,000 from $500 for clearing members, to $3,300 from $550 for members, and to $4,050 from $675 for customers. Margins for the sixth to 10th months will remain unchanged. Margins for all other months will increase to $500 from $300 for clearing members, to $550 from $330 for members, and to $675 from $405 customers.

Margins for the first and second months of the PG&E Citygate basis swap futures contracts 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 all other months will remain unchanged.

The margins for the first month of the NGPL Tex/Ok basis swap futures contract will remain unchanged. Margins for the second month will increase to $350 from $300 for clearing members, to $385 from $330 for members, and to $473 from $405 for customers. Margins for all other months remain unchanged.

Margins for the first and second months of Northern Natural Gas Demarcation 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. Margins for the third to fifth months will decrease to $350 from $400 for clearing members, to $385 from $440 for members, and to $473 from $540 for customers. Margins for all other months will remain unchanged.

Margins for the first and second months of the Northern Natural Gas Ventura, Iowa basis swap futures contract will decrease to $600 from $800 for clearing members, to $660 from $880 for members, and to $810 from $1,080 for customers. Margins for the third to fifth months will increase to $350 from $300 for clearing members, to $385 from $330 for members, and to $473 from $405 for customers. Margins for all other months will remain unchanged.

Margins for the first and second months of the Transco Zone 6 index swap futures contract will increase to $5,000 from $3,000 for clearing members, to $5,500 from $3,300 for members, and to $6,750 from $4,050 for customers. Margins for the third to fifth months will increase to $1,000 from $200 for clearing members, to $1,100 from $220 for members, and to $1,350 from $270 for customers. Margins for all other months will remain unchanged.

Margins for the first and second months of the Sumas index swap futures contract will increase to $2,500 from $1,500 for clearing members, to $2,750 from $1,650 for members, and to $3,375 from $2,025 for customers. Margins for the third to fifth months will increase to $1,000 from $200 for clearing members, to $1,100 from $220 for members, and to $1,350 from $270 for customers. Margins for all other months will remain unchanged.

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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: Anu Ahluwalia, 212-299-2439 or Keil Decker, 212-299-2209

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