News Release

NYMEX to Change Margins for Crude Oil and Petroleum Related Futures Contracts

Tue Aug 05 2008

New York, N.Y., August 5, 2008 -- The New York Mercantile Exchange, Inc. today announced margin changes for some of its crude oil and petroleum related futures contracts on NYMEX ClearPort®, beginning at the close of business tomorrow.

Margins for the European gasoil bullet swap futures contract will decrease to $85,000 from $90,000 for clearing members, to $93,000 from $99,000 for members, and to $114,750 from $121,500 for clearing members.

The margins for the Chicago ethanol (Platts) swap 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.

The margins for the European gasoil 0.2 CIF Northwest Europe vs. gasoil 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.

The margins for the European naphtha crack spread futures contract will decrease to $5,000 from $6,000 clearing members, to $5,500 from $6,600 for members, and to $6,750 from $8,100 for customers. 
 

Margins for the European ultra low sulfur diesel 50 PPM CIF Mediterranean vs. gasoil and the European gasoil 0.2 FOB Mediterranean vs. gasoil 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 10 PPM Rotterdam barges vs. gasoil futures contract will decrease to $7,000 from $9,000 for clearing members, to $7,700 from $9,900 for members, and to $9,450 from $12,150 for customers.

Margins for the European ultra low sulfur diesel 50 PPM CIF Northwest Europe vs. gasoil, the RBOB vs. heating oil swap, and the Gulf Coast ultra low sulfur diesel crack spread swap (Platts) futures contracts 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.

The margins for the New York ethanol (Platts) swap futures contract 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.

The margins for the 3.5% fuel oil Rotterdam crack swap futures contract will increase to $9,000 from $8,500 clearing members, to $9,900 from $9,350 for members, and to $12,150 from $11,475 for customers.

Margins for the high-low sulfur fuel oil spread swap futures (Platts) contract will increase to $15,000 from $10,000 clearing members, to $16,500 from $11,000 for members, and to $20,250 from $13,500 for customers.

Margins for the Singapore gasoil vs. Rotterdam gasoil swap and the European Argus gasoline crack spread swap futures contracts 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 European gasoil 10 PPM Rotterdam barges swap futures contract will decrease to $88,000 from $90,000 for clearing members, to $96,800 from $99,000 for members, and to $118,800 from $121,500 for customers.

The margins for the European gasoil crack spread 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 Los Angeles Jet (OPIS) spread swap futures contract will decrease to $3,000 from $4,000 for clearing members, to $3,300 from $4,400 for members, and to $4,050 from $5,400 for customers.

The margins for the Singapore jet kerosene swap futures (Platts) contract will decrease to $10,000 from $13,000 for clearing members, to $11,000 from $14,300 for members, and to $13,500 from $17,550 for customers.

Margins for the Gulf Coast low sulfur diesel swap (Platts) and Gulf Coast ultra low sulfur diesel swap (Platts) futures contracts will decrease to $13,000 from $14,000 for clearing members, to $14,300 from $15,400 for members, and to $17,550 from $18,900 for customers.

The margins for the Gulf Coast No. 6 fuel oil crack swap (Platts) futures contract will increase to $6,000 from $4,500 for clearing members, to $6,600 from $4,950 for members, and to $8,100 from $6,075 for customers.

The margins for the first month of the RBOB crack spread swap futures contract will decrease to $2,500 from $2,950 for clearing members, to $2,750 from $3,245 for members, and to $3,375 from $3,983 for customers. Margins the second to fourth months will decrease to $2,500 from $2,850 for clearing members, to $2,750 from $3,135 for members, and to $3,375 from $3,848 for customers. Margins for the fifth through 11th will decrease to $2,000 from $2,700 clearing members, to $2,200 from $2,970 for members, and to $2,700 from $3,645 for customers. Margins for all other months will decrease to $2,000 from $2,650 for clearing members, to $2,200 from $2,915 for members, and to $2,700 from $3,578 for customers.  

Margins for the Singapore fuel oil 380cst calendar swap (Platts) futures contract will decrease to $35,000 from $40,000 for clearing members, to $38,500 from $44,000 for members, and to $47,250 from $54,000 for customers.

The margins for the Singapore gasoil calendar swap (Platts) futures contract will decrease to $11,000 from $12,000 for clearing members, to $12,100 from $13,200 for members, and to $14,850 from $16,200 for customers.

The margins for the Singapore naphtha swap (Platts) futures contract will increase to $9,000 from $8,000 for clearing members, to $9,900 from $8,800 for members, and to $12,150 from $10,800 for customers.

The margins for the Tanker Route TC5 Ras Tanura to Yokohama freight 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.

Margins for the gasoil 0.1 cargoes CIF Northwest Europe vs. ICE gasoil swap futures contract will decrease to $10,000 from $12,000 for clearing members, to $11,000 from $13,200 for members, and to $13,500 from $16,200 for clearing members.

Margins for the gasoil 0.1 barges FOB Rotterdam vs. ICE gasoil swap futures contract will decrease to $8,000 from $10,000 for clearing members, to $8,800 from $11,000 for members, and to $10,800 from $13,500 for customers.

Margins for the European gasoil (ICE) calendar swap futures contract will decrease to $85,000 from $90,000 for clearing members, to $93,500 from $99,000 for members, and to $114,750 from $121,500 for customers.

Margins for the European 1% fuel oil Rotterdam calendar swap futures contract will decrease to $40,000 from $45,000 for clearing members, to $44,000 from $49,500 for members, and to $54,000 from $60,750 for customers.

Margins for the LLS (Argus) vs. WTI spread trade month swap futures contract will increase to $1,500 from $600 for clearing members, to $1,650 from $660 for members, and to $2,025 from $810 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 Tara Stowe, 212-299-2455 

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