New York, N.Y., September 5, 2007 -- The New York Mercantile Exchange, Inc. today announced margin changes for some of its financially settled electricity futures contracts on NYMEX ClearPort®, effective at the close of business tomorrow.
The margins for the first month of the Cinergy Hub LMP off-peak electricity 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 second to sixth months will decrease to $1,500 from $2,500 for clearing members, to $1,650 from $2,750 for members, and to $2,025 from $3,375 for customers. The margins for all other months will decrease to $1,500 from $2,000 for clearing members, to $1,650 from $2,200 for members, and to $2,025 from $2,700 for customers.
Margins for the Michigan Hub LMP peak electricity futures contract will decrease to $5,500 from $6,500 for clearing members, to $6,050 from $7,150 for members, and to $7,425 from $8,775 for customers.
The margins for the first month of the PJM Western LMP off-peak electricity futures contract will remain the same. Margins for the second to sixth months 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 all other months will decrease to $2,500 from $3,000 for clearing members, to $2,750 from $3,300 for members, and to $3,375 from $4,050 for customers.
Margins for the first month of the NYISO Zone A, NYISO Zone G, and NYISO Zone J peak electricity 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 second to sixth months will decrease to $2,500 from $3,000 for clearing members, to $2,750 from $3,300 for members, and to $3,375 from $4,050 for customers. Margins for the seventh to 11th 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 all other months will remain unchanged.
Margins for the first month of the NYISO Zone A off-peak electricity 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 second to sixth months will remain the same. Margins for the seventh to 11th months 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 all other months will remain unchanged.
Margins for the first month of the NYISO Zone G off-peak electricity 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 second to sixth months will remain the same. Margins for the seventh to 11th months 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 all other 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.
Margins for the first month of the NYISO Zone J off-peak electricity 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 second to sixth months will decrease to 3,000 from $5,000 for clearing members, to $3,300 from $5,500 for members, and to $4,050 from $6,750 for customers. Margins for the seventh to 11th months 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 all other months will remain unchanged.
Margins for the first month of the ISO New England Internal Hub peak electricity futures contract will decrease to $8,000 from $8,500 for clearing members, to $8,800 from $9,350 for members, and to $10,800 from $11,475 for customers. The margins for the second to sixth months will decrease to $7,000 from $7,500 for clearing members, to $7,700 from $8,250 for members, and to $9,450 from $10,125 for customers. Margins for the seventh to 11th months will decrease to $4,000 from $4,500 for clearing members, to $4,400 from $4,950 for members, and to $5,400 from $6,075 for customers. The margins for all other months 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 for the first month of the Northern Illinois Hub off-peak electricity futures contract will remain the same. The margins for the second to sixth months will decrease to $1,500 from $2,500 for clearing members, to $1,650 from $2,750 for members, and to $2,025 from $3,375 for customers. Margins for the seventh to 11th months will decrease to $1,500 from $2,000 for clearing members, to $1,650 from $2,200 for members, and to $2,025 from $2,700 for customers. The margins for all other months will remain the same.
Margins for the first month of the AEP-Dayton Hub off-peak electricity futures contract will remain the same. The margins for the second to sixth months will decrease to $1,500 from $2,500 for clearing members, to $1,650 from $2,750 for members, and to $2,025 from $3,375 for customers. Margins for the seventh to 11th months will decrease to $1,500 from $2,000 for clearing members, to $1,650 from $2,200 for members, and to $2,025 from $2,700 for customers. The margins for all other months will decrease to $1,500 from $2,500 for clearing members, to $1,650 from $2,750 for members, and to $2,025 from $3,375 for customers.
Contact: Brenda Guzman 212-299-2436 or Keil Decker, 212-299-2209
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