News Release

NYMEX to Change Margins for Natural Gas Swing Swap Futures Contracts

Wed Jul 02 2008

NEW YORK, N.Y., July 2, 2008 -- The New York Mercantile Exchange, Inc. today announced margin changes for some of its natural gas swing swap futures contracts, beginning at the close of business tomorrow.

Margins for the SoCal natural gas swing swap futures contract will increase to $3,500 from $3,000 for clearing members, to $3,850 from $3,300 for members, and to $4,725 from $4,050 for customers. 

The margins for the San Juan natural gas swing swap futures contract will increase to $4,000 from $3,000 for clearing members, to $4,400 from $3,300 for members, and to $5,400 from $4,050 for customers. 

Margins for the El Paso/Permian natural gas swing 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. 

The margins for the first Kern Opal natural gas swing 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 for the Panhandle natural gas swing swap futures contract will increase to $3,000 from $2,000 for clearing members, to $3,300 from $2,200 for members, and to $4,050 from $2,700 for customers. 

Margins for the Tetco M-3 natural gas swing swap 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. 

Margins for the Waha natural gas swing swap futures contract will increase to $2,500 from $2,000 for clearing members, to $2,750 from $2,200 for members, and to $3,375 from $2,700 for customers. 

Margins for the NGPL Midcon natural gas swing swap futures contract will increase to $4,000 from $2,000 for clearing members, to $4,400 from $2,200 for members, and to $5,400 from $2,700 for customers. 

Margins for the Ventura natural gas swing swap futures contract will increase to $3,500 from $2,000 for clearing members, to $3,850 from $2,200 for members, and to $4,725 from $2,700 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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