Notice to Members
Notice No. 146
05/24/2002
NYMEX Division Margin Rates For OTC Products
Effective Date: Friday, May 31, 2002 (close of business)
Contract Months: All Months


NYMEX Division Margins For OTC Products

Clearing Member /
Maintenance Margin		 Member Customer Initial Margin Non-Member Customer Initial Maring
NATURAL GAS BASIS FINANCIAL
   
Alberta Gas Swap (NA)
$225
$248
$304
Chicago Basis Swap (NB)
$200
$220
$270
Henry Hub Basis Swap (HB)
$150
$165
$203
Houston Ship Channel Basis Swap (NH)
$200
$220
$270
San Juan Basis Swap (NJ)
$200
$220
$270
SoCal Basis Swap (NS)
$300
$330
$405
Transco Zone 6 Basis Swap (NZ)
$375
$413
$507
Northwest Pipeline, Rockies Basis Swap (NR)
$250
$275
$338
Panhandle Basis Swap (PH)
$200
$220
$270
ELECTRICITY
Palo Verde Electricity (KV)
$2,000
$2,200
$2,700
Mid-Columbia Electricity (KM)
$2,000
$2,200
$2,700
PJM Interconnection-West Electricity (QJ)
$2,500
$2,750
$3.375
PETROLEUM CRACKS
New York Harbor Heating Oil Crack Spread Calendar Swap (HK)
$1,400
$1,540
$1,890
New York Harbor Unleaded Gasoline Crack Spread Calendar Swap (UK)
$1,400
$1,540
$1,890
U.S. Gulf Coast Unleaded 87 Octane Gasoline Crack Spread Calendar Swap (RU)
$1,400
$1,540
$1,890
U.S. Gulf Coast No. 2 Heating Oil Crack Spread Calendar Swap (RD)
$1,400
$1,540
$1,890
PETROLEUM BASIS
Unleaded 87 Octane Gasoline Up-Down Spread Calendar Swap (UU)
$1,600
$1,760
$2,160
No. 2 Heating Oil Up-Down Spread Calendar Swap (UT)
$260
$286
$351
CRUDE OIL FINANCIAL
West Texas Intermediate Crude Oil Calendar Swap (CS)
$2,000
$2,200
$2,700
Dubai Crude Oil Calendar Swap (DC)
$2,000
$2,200
$2,700
CRUDE OIL PHYSICAL
Light Louisiana Sweet Crude Oil Futures (LS)
$2,000
$2,200
$2,700
West Texas Sour Crude Oil Futures (TS)
$2,000
$2,200
$2,700
West Texas Intermediate Midland Crude Oil (CM)
$2,000
$2,200
$2,700
Mars Blend Crude Oil (MB)
$2,000
$2,200
$2,700


NYMEX Division Intra-Commodity Straddle Margins For OTC Products

Tier 1
Any Spread Clearing Member/ Maintenance Margin		 Tier 2
Any Spread Member Customer Initial Margin		 Tier 1
Any Spread Non-Member Customer Initial Margin
NATURAL GAS BASIS FINANCIAL
   
Alberta Gas Swap (NA)
$250
$275
$338
Chicago Basis Swap (NB)
$250
$275
$338
Henry Hub Basis Swap (HB)
$250
$275
$338
Houston Ship Channel Basis Swap (NH)
$250
$275
$338
San Juan Basis Swap (NJ)
$250
$275
$338
SoCal Basis Swap (NS)
$250
$275
$338
Transco Zone 6 Basis Swap (NZ)
$250
$275
$338
Northwest Pipeline, Rockies Basis Swap (NR)
$250
$275
$338
Panhandle Basis Swap (PH)
$250
$275
$338
ELECTRICITY
Palo Verde Electricity (KV)
$2,000
$2,200
$2,700
Mid-Columbia Electricity (KM)
$2,000
$2,200
$2,700
PJM Interconnection-West Electricity (QJ)
$2,500
$2,200
$2,700
PETROLEUM CRACKS
New York Harbor Heating Oil Crack Spread Calendar Swap
$200
$220
$270
New York Harbor Unleaded Gasoline Crack Spread Calendar Swap
$200
$220
$270
U.S. Gulf Coast Unleaded 87 Octane Gasoline Crack Spread Calendar Swap
$200
$220
$270
U.S. Gulf Coast No. 2 Heating Oil Crack Spread Calendar Swap
$200
$220
$270
PETROLEUM BASIS
Unleaded 87 Octane Gasoline Up-Down Spread Calendar Swap
$200
$220
$270
No. 2 Heating Oil Up-Down Spread Calendar Swap
$200
$220
$270
CRUDE OIL FINANCIAL
West Texas Intermediate Crude Oil Calendar Swap
$400
$440
$540
Dubai Crude Oil Calendar Swap
$400
$440
$540
CRUDE OIL PHYSICAL
Light Louisiana Sweet Crude Oil Futures
$400
$440
$540
West Texas Sour Crude Oil Futures
$400
$440
$540
West Texas Intermediate Midland Crude Oil
$400
$440
$540
Mars Blend Crude Oil
$400
$440
$540


NYMEX Division Inter-Commodity Spread Credits For OTC Products

Spread Priority Ratio Credit
CS:CL 45 1:01 95%
LS:CL 46 1:01 90%
MB:CL 47 1:01 90%
TS:CL 48 1:01 80%
DC:CL 49 1:01 85%
CM:CL 50 1:01 85%
NG:QJ 51 1:02 60%
NZ:NG:QJ 52 4:01:02 60%
NS:NG:KV 53 4:01:02 60%
NJ:NG:KV 54 4:01:02 60%
NR:NG:KM 55 4:01:02 60%


NYMEX Division Spot Month Assessments For OTC Products

Spot Month Assessment¹
NATURAL GAS BASIS FINANCIAL
  
Alberta Gas Swap
 $750
Chicago Basis Swap
 $750
Henry Hub Basis Swap
 $750
Houston Ship Channel Basis Swap
 $750
San Juan Basis Swap
 $750
Socal Basis Swap
 $750
Transco Zone 6 Basis Swap
 $750
Northwest Pipeline, Rockies Basis Swap
 $750
Panhandle Basis Swap
 $750
ELECTRICITY
  
Palo Verde Electricity
 $3,500
Mid-Columbia Electricity
 $3,500
PJM Interconnection - West Electricity
 $3,500
CRUDE OIL PHYSICAL
  
Light Louisiana Sweet Crude Oil Futures
 $3,000
West Texas Sour Crude Oil Futures
 $3,000
West Texas Intermediate Midland Crude Oil
 $3,000
Mars Blend Crude Oil
 $3,000


¹ Effective on the day submission deadline terminates.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com