News Release

NYMEX to Change Margins for Natural Gas Basis Swaps Futures, Delivery Point Options Contracts

Wed Apr 09 2008

NEW YORK, N.Y., April 9, 2008 -- The New York Mercantile Exchange, Inc. today announced it will change margins for several of its natural gas basis swap futures and its natural gas delivery point options contracts at the close of business tomorrow.

Margins for the first to sixth months of the CIG Rockies basis swap futures contract will decrease to $1,000 from $1,200 for clearing members, to $1,100 from $1,320 for members, and to $1,350 from $1,620 for customers. Margins for all other months will remain unchanged.

Margins for the first to ninth months of the Northwest Pipeline, Rockies basis swap futures contract will remain unchanged. Margins for all other months will increase to $400 from $300 for clearing members, to $440 from $330 for members, and to $540 from $405 for customers.

Margins for the first month of the Transco Zone M-3 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 to fifth months will decrease to $600 from $900 for clearing members, to $660 from $990 for members, and to $810 from $1,215 for customers. Margins for the sixth to 10th months will increase to $500 from $400 for clearing members, to $550 from $440 for members, and to $675 from $540 for customers. Margins for the 11th to 17th months will increase to $300 from $200 for clearing members, to $330 from $220 for members, and to $405 from $270 for customers. Margins for all other months will remain unchanged. 

Margins for the synthetic underlying futures contract for the PG&E Citygate pipe options contract will increase to $2,000 from $1,200 for clearing members, to $2,200 from $1,320 for members, and to $2,700 from $1,620 for customers. 

Margins for the synthetic underlying futures contracts for the Alberta, Northern Rockies, Chicago Citygate, Houston Ship Channel, San Juan, SoCal, and Panhandle pipe options contracts will increase to $2,000 from $1,100 for clearing members, to $2,200 from $1,210 for members, and to $2,700 from $1,485 for customers.
Margins for the synthetic underlying futures contract for the Transco Zone 6 pipe options contract will increase to $2,000 from $1,700 for clearing members, to $2,200 from $1,870 for members, and to $2,700 from $2,295 for customers. 

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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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