News Release

NYMEX to Change Margins for Crude Oil and Petroleum Swap Futures Contracts on NYMEX ClearPort®

Tue Jun 03 2008

New York, N.Y., June 3, 2008 -- The New York Mercantile Exchange, Inc. today announced margin changes for some of its crude oil and petroleum product swap futures contracts on NYMEX ClearPort, beginning at the close of business tomorrow.

The margins for the first month of the Northwest Europe gasoline swap (Argus) futures contract will increase to $65,000 from $60,000 for clearing members, to $71,500 from $66,000 for members, and to $87,750 from $81,000 for customers. Margins for all other months will remain unchanged.

Margins for the WTI-Brent (ICE) bullet swap futures contract will decrease to $1,500 from $1,800 for clearing members, to $1,650 from $1,980 for members, and to $2,025 from $2,430 for clearing members.

The margins for the Chicago ethanol (Platts) swap futures contract will increase to $4,000 from $3,500 for clearing members, to $4,400 from $3,850 for members, and to $5,400 from $4,725 for customers.

Margins for the Brent-Dubai swap futures contract will decrease to $2,500 from $3,500 for clearing members, to $2,750 from $3,850 for members, and to $3,375 from $4,725 for customers.

The margins for the Dubai crude oil calendar swap, Russian Export Blend crude oil (REBCO), RBOB vs. heating oil swap, and Singapore gasoil calendar swap futures contracts will increase to $8,000 from $7,000 for clearing members, to $8,800 from $7,700 for members, and to $10,800 from $9,450 for customers.

Margins for European ultra low sulfur diesel 50 PPM CIF Mediterranean, high-low sulfur fuel oil spread swap, and Gulf Coast gasoline calendar swap futures contracts will decrease to $8,000 from $9,000 for clearing members, to $8,800 from $9,900 for members, and to $10,800 from $12,150 for customers.

The margins for the European gasoil 0.2 FOB Mediterranean vs. gasoil swap futures contract will decrease to $6,000 from $7,000 for clearing members, to $6,600 from $7,700 for members, and to $8,100 from $9,450 for customers.

Margins European gasoil 0.2 Rotterdam barges vs. gasoil swap futures contract will decrease to $5,000 from $6,000 for clearing members, to $5,500 from $6,600 for members, and to $6,750 from $8,100 for customers

The margins for the European gasoil 10 PPM Rotterdam barges vs. gasoil swap futures contract will decrease to $9,000 from $10,000 for clearing members, to $9,900 from $11,000 for members, and to $12,150 from $13,500 for customers.

Margins for the European ultra low sulfur diesel 50PPM CIF Northwest Europe vs. gasoil futures contract will decrease to $7,000 from $8,000 for clearing members, to $7,700 from $8,800 for members, and to $8,450 from $10,800 for customers

The margins for the New York Ethanol (Platts) swap futures contract will increase to $4,500 from $4,000 for clearing members, to $4,950 from $4,400 for members, and to $6,075 from $5,400 for customers.

Margins for the 1% fuel oil Northwest Europe crack spread swap and 3.5% fuel oil Rotterdam crack swap futures contracts will decrease to $7,000 from $5,500 for clearing members, to $7,700 from $6,050 for members, and to $9,450 from $7,425 for customers.

The margins for the dated-to-frontline Brent swap futures contract will increase to $900 from $750 for clearing members, to $990 from $825 for members, and to $1,215 from $1,013 for customers.

Margins for the Singapore gasoil vs. Rotterdam gasoil swap futures contract will decrease to $3,000 from $4,500 for clearing members, to $3,300 from $4,950 for members, and to $4,050 from $6,075 for customers.

 The margins for the European gasoil 10 PPM Rotterdam barges swap futures contract will increase to $60,000 from $55,000 for clearing members, to $66,000 from $60,500 for members, and to $81,000 from $74,250 for customers.

Margins for the first month of the European gasoil (ICE) calendar swap futures contract will increase to $60,000 from $55,000 for clearing members, to $66,000 from $60,500 for members, and to $81,000 from $74,250 for customers. The margins for the second to sixth months will increase to $60,000 from $35,000 for clearing members, to $66,000 from $38,500 for members, and to $81,000 from $47,250 for customers. Margins for the seventh to 11th months will increase to $60,000 from $30,000 for clearing members, to $66,000 from $33,000 for members, and to $81,000 from $40,500 for customers. The margins for all other months will increase to $60,000 from $25,000 for clearing members, to $66,000 from $27,500 for members, and to $81,000 from $33,750 for customers.

Margins for Gulf Coast ultra low sulfur diesel crack spread swap (Platts) futures contract will increase to $8,000 from $4,500 for clearing members, to $8,800 from $4,950 for members, and to $10,800 from $6,075 for customers.

The margins for European gasoil crack spread swap futures contract will increase to $8,000 from $5,500 for clearing members, to $8,800 from $6,050 for members, and to $10,800 from $7,425 for customers.

Margins for the first month of the New York Harbor heating oil crack spread calendar swap futures contract will increase to $5,000 from $4,000 for clearing members, to $5,500 from $4,400 for members, and to $6,750 from $5,400 for customers. The margins for all other months will remain the same.

Margins for the Singapore 380cst fuel oil futures contract will increase to $4,000 from $2,500 for clearing members, to $4,400 from $2,750 for members, and to $5,400 from $3,375 for customers.

The margins for the Japan C&F naphtha (Platts) swap futures contract will increase to $70,000 from $60,000 for clearing members, to $77,000 from $66,000 for members, and to $94,500 from $81,000 for customers.

Margins for the European Jet CIF Northwest Europe vs. gasoil swap futures contract will increase to $21,000 from $20,000 for clearing members, to $23,100 from $22,000 for members, and to $28,350 from $27,000 for customers.

The margins for the European Jet Rotterdam barges vs. gasoil swap futures contract will increase to $20,000 from $10,000 for clearing members, to $22,000 from $11,000 for members, and to $27,000 from $13,500 for customers.

Margins for the Los Angeles Jet (OPIS) spread swap and Los Angeles CARB diesel (OPIS) spread swap futures contracts will decrease to $2,000 from $3,000 for clearing members, to $2,200 from $3,300 for members, and to $2,700 from $4,050 for customers.

The margins for the Singapore Jet kerosene swap futures (Platts) contract will increase to $8,000 from $6,500 for clearing members, to $8,800 from $7,150 for members, and to $10,800 from $8,775 for customers.

Margins for the Gulf Coast low sulfur diesel swap (Platts) and Gulf Coast ultra low sulfur diesel swap (Platts) futures contracts will increase to $12,000 from $8,000 for clearing members, to $13,200 from $8,800 for members, and to $16,200 from $10,800 for customers.

The margins for the Gulf Coast No. 6 fuel 3.0% sulfur swap (Platts) futures contracts will increase to $5,500 from $5,000 for clearing members, to $6,050 from $5,500 for members, and to $7,425 from $6,750 for customers.

Margins for the Gulf Coast No. 6 fuel oil crack swap (Platts) futures contract will decrease to $4,000 from $5,000 for clearing members, to $4,400 from $5,500 for members, and to $5,400 from $6,750 for customers.

The margins for the New York Harbor residual fuel crack swap (Platts) futures contract will increase to $4,500 from $3,500 for clearing members, to $4,950 from $3,850 for members, and to $6,075 from $4,725 for customers.

Margins for the New York Harbor residual fuel 1.0% sulfur swap (Platts) futures contract will increase to $5,500 from $5,000 for clearing members, to $6,050 from $5,500 for members, and to $7,425 from $6,750 for customers.

The margins for the Gulf Coast No.2 heating oil crack spread calendar swap (Platts) futures contract will increase to $7,000 from $3,500 for clearing members, to $7,700 from $3,850 for members, and to $9,450 from $4,725 for customers.

Margins for the Gulf Coast unleaded 87 gasoline crack spread calendar swap (Platts) futures contract will decrease to $3,500 from $4,500 for clearing members, to $3,850 from $4,950 for members, and to $4,725 from $6,075 for customers.

The margins for the Singapore fuel oil spread swap (Platts) futures contract will increase to $7,000 from $5,000 for clearing members, to $7,700 from $5,500 for members, and to $9,450 from $6,750 for customers.

Margins for the Singapore fuel oil 380cst calendar swap (Platts) futures contracts will increase to $30,000 from $25,000 for clearing members, to $33,000 from $27,500 for members, and to $40,500 from $33,750 for customers.

The margins for the Singapore naphtha swap (Platts) futures contract will increase to $8,000 from $6,000 for clearing members, to $8,800 from $6,600 for members, and to $10,800 from $8,100 for customers.

Margins for the Tanker Route TC5 Ras Tanura to Yokohama freight futures contract will increase to $4,000 from $1,750 for clearing members, to $4,400 from $1,925 for members, and to $5,400 from $2,363 for customers.

The margins for the gasoil 10 PPM cargoes CIF Northwest Europe vs. ICE gasoil swap futures contract will decrease to $12,000 from $15,000 for clearing members, to $13,200 from $16,500 for members, and to $16,200 from $20,250 for customers.

Margins for the Singapore fuel oil 180cst calendar swap futures contract will decrease to $21,000 from $23,000 for clearing members, to $23,100 from $25,300 for members, and to $28,350 from $31,050 for customers.

Margins for the European 1% fuel oil calendar swap (Northwest Europe) and European 1% fuel oil Rotterdam calendar swap futures contracts will increase to $35,000 from $24,000 for clearing members, to $38,500 from $26,400 for members, and to $47,250 from $32,400 for customers.

Margins for the European 3.5% fuel oil Mediterranean calendar swap futures contract will increase to $20,000 from $16,000 for clearing members, to $22,000 from $17,600 for members, and to $27,000 from $21,600 for customers.

The margins for the first month of the European naphtha calendar swap futures contract will increase to $65,000 from $60,000 clearing members, to $71,500 from $66,000 for members, and to $87,750 from $81,000 for customers. Margins for all other months will remain unchanged.

Margins for the European 3.5% fuel oil Rotterdam calendar swap futures contracts will increase to $35,000 from $25,000 clearing members, to $38,500 from $27,500 for members, and to $47,250 from $33,750 for customers.

###

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

 

Corporate Communications

+1 312 930 3434
Email