Notice to Members
Notice No. 401
11/28/2001
Margin Rate Change for Light Sweet Crude Oil Futures Contracts
Effective Date: Thursday, November 29, 2001 (close of business)
Futures Contracts: Light Sweet Crude Oil Futures
Contract Months: All Months
Rate Change:

NYMEX Division Margins for Light Sweet Crude Oil Futures Contracts
   
Clearing Member (Maintenance Margin) Old: $2,000 New: $2,500
Member Customer (Initial Margin) Old: $2,200 New: $2,750
Non-Member Customer (Initial Margin) Old: $2,700 New: $3,375


The margin credit for NYMEX Light Sweet Crude/IPE Brent Crude Oil futures spread positions will also be increased, from $1,500 to $2,000 (at the Clearing Member level), as of Thursday, November 28, 2001. The net margin after the spread will remain unchanged.

NYMEX Light Sweet Crude/IPE Brent Crude Oil Futures Spread
NYMEX Light Sweet Crude:
  
Clearing Member (Maintenance Margin): $2,500
Member Customer (Initial Margin): $2,750
Non-Member Customer (Initial Margin): $3,375


Less: NYMEX Light Sweet/ipe Brent Crude Spread Credit:
  
Clearing Member (Maintenance Margin): $2,000
Member Customer (Initial Margin): $2,200
Non-Member Customer (Initial Margin): $2,700


Net Spread Margin:
  
Clearing Member (Maintenance Margin): $500
Member Customer (Initial Margin): $550
Non-Member Customer (Initial Margin): $675


This notice supersedes all previous notices regarding outright margins for the NYMEX Light Sweet Crude Oil Futures Contracts and the margin credit for the NYMEX Light Sweet Crude Oil/IPE Brent Crude Oil futures spread positions.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com