News Release

NYMEX to Change Margins for Natural Gas Basis Swap 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 natural gas basis swap futures contracts, beginning at the close of business tomorrow.

Margins for the first month of the CIG Rockies basis swap 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. The margins for the second to sixth months will increase to $3,500 from $2,500 for clearing members, to $3,850 from $2,750 for members, and to $4,725 from $3,375 for customers. Margins for all other months will remain unchanged.

The margins for the first month of the Alberta basis swap futures contract will increase to $1,200 from $1,000 for clearing members, to $1,320 from $1,100 for members, and to $1,620 from $1,350 for customers. Margins for all other months will remain the same.

The margins for the first month of the Chicago 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 all other months will decrease to $300 from $400 for clearing members, to $330 from $440 for members, and to $405 from $540 for customers.

The margins for the first and second months of the ANR Oklahoma basis swap futures contract will increase to $1,600 from $1,000 for clearing members, to $1,760 from $1,100 for members, and to $2,160 from $1,350 for customers. Margins for the third to fifth months will increase to $1,200 from $600 for clearing members, to $1,320 from $660 for members, and to $1,620 from $810 for customers.  The margins for all other months will be $750 for clearing members, $825 for members, and $1,013 for customers.

Margins for the first month of the NGPL Mid-Con basis swap futures contract will increase to $1,500 from $1,000 for clearing members, to $1,650 from $1,100 for members, and to $2,025 from $1,350 for customers. The margins for the second month will increase to $1,200 from $800 for clearing members, to $1,320 from $880 for members, and to $1,620 from $1,080 for customers. Margins for all other months will remain unchanged.

The margins for the Tennessee 500 leg basis futures contract will decrease to $100 from $150 for clearing members, to $110 from $165 for members, and to $135 from $203 for customers. 

Margins for the first month of the Northwest Pipeline, Rockies basis 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. The margins for the second to sixth months will increase to $3,500 from $2,500 for clearing members, to $3,850 from $2,750 for members, and to $4,725 from $3,375 for customers. Margins for the seventh to ninth months will increase to $3,000 from $2,500 for clearing members, to $3,300 from $2,750 for members, and to $4,050 from $3,375 for customers. The margins all other months will remain the same.

Margins for the first month of the SoCal basis swap futures contract will increase to $1,000 from $600 for clearing members, to $1,100 from $660 for members, and to $1,350 from $810 for customers. The margins for the second to sixth months will increase to $600 from $400 for clearing members, to $660 from $440 for members, and to $810 from $540 for customers. Margins all other months will remain the same.

The margins for the first month of the Kern River, Wyoming basis swap futures contract will decrease to $3,000 from $3,500 for clearing members, to $3,300 from $3,850 for members, and to $4,050 from $4,725 for customers. Margins all other 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.

The margins for the first month of the Waha 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 month will increase to $800 from $400 for clearing members, to $880 from $440 for members, and to $1,080 from $540 for customers. The margins for the third to sixth months will increase to $600 from $300 for clearing members, to $660 from $330 for members, and to $810 from $405 for customers. Margins for the seventh to 12th months will increase to $400 from $200 for clearing members, to $440 from $220 for members, and to $540 from $270 for customers. The 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 decrease to $750 from $900 for clearing members, to $825 from $990 for members, and to $1,013 from $1,215 for customers. The 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 decrease to $500 from $900 for clearing members, to $550 from $990 for members, and to $675 from $1,215 for customers. The margins for all other months will remain the same.

Margins for the first and second months of the Malin basis swap futures contract will decrease to $750 from $900 for clearing members, to $825 from $990 for members, and to $1,013 from $1,215 for customers. Margins for the third to fifth months 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 all other months will remain unchanged.

Margins for the first and second months of the Northern Natural Gas Demarcation basis swap futures contract will increase to $1,000 from $900 for clearing members, to $1,100 from $900 for members, and to $1,350 from $1,215 for customers. The margins for the third to fifth months 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 all other months will increase to $500 from $300 for clearing members, to $550 from $330 for members, and to $675 from $405 for customers. 

The margins for the first month of the Centerpoint basis swap futures contract will increase to $1,200 from $1,100 for clearing members, to $1,320 from $1,210 for members, and to $1,620 from $1,485 for customers.  Margins for all other months will increase to $900 from $750 for clearing members, to $990 from $825 for members, and to $1,215 from $1,013 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: Brenda Guzman, 212-299-2436 or Anu Ahluwalia, 212-299-2439

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