Notice to Members
Notice No. 144
03/25/2003
Margin Rates Change for Existing NYMEX Division Natural Gas Basis Contracts, and CIG Rockies and Waha Basis Contracts
Effective Date: Wednesday, March 26, 2003 (close of business)
Contracts: Basis Swaps: Alberta Gas Swap (NA), Chicago Swap (NB), Henry Hub Swap (HB), Houston Ship Channel Swap (NH), San Juan Swap (NJ), Socal Swap (NS), Transco Zone 6 Swap (NZ), Northwest Pipeline Rockies Swap (NR), Panhandle Swap (PH), Michcon Swap (NF), Permian Basin Swap (PM), Texas Eastern Zone M-3 Swap (NX), TCO Swap (TC), PGE&E Malin Swap (PB), PGE&E Citygate Swap (PC), NGPL Tex/OK Swap (PD), NGPL LA Swap (NY), ANR Oklahoma (NE), SUMAS Swap (NK), NGPL Mid-Continent (NL), Northern Natural Gas Demarcation Swap (PE), Northern Natural Gas Ventura, Iowa Swap (PF), Dominion Transmission Inc. – Appalachia Swap (PG)

New Basis Swaps: CIG Rockies Swap (CI), Waha Swap (NW)
Contract Months: All Months


NYMEX Division Margin Rates For Existing Natural Gas Basis Swaps
 
Clearing Member /
Maintenance Margin
Member Customer
Initial Margin
Non-Member Customer
Initial Margin
NATURAL GAS BASIS FINANCIAL
New
Old
New
Old
New
Old
Alberta Gas Swap (NA)            
Tier 1 - 1st Nearby
$600
$525
$660
$578
$810
$709
Tier 2: 2nd Nearby
$350
$400
$385
$440
$473
$540
Tier 3: 3rd - 6th Nearby
$250
$200
$275
$220
$338
$270
Tier 4: 7th - 12th Nearby
$250
$200
$275
$220
$338
$270
Tier 5: 13th And Greater
$100
$100
$110
$110
$135
$135
Chicago Swap (NB)            
Tier 1 - 1st Nearby
$150
$170
$165
$187
$203
$230
Tier 2: 2nd Nearby and Greater
$100
$100
$110
$110
$135
$135
Henry Hub Swap (HB)            
Tier 1 - 1st Nearby
$50
$50
$55
$55
$68
$68
Tier 2: 2nd Nearby and Greater
$25
$25
$28
$28
$34
$34
Houston Ship Channel Swap (NH)            
Tier 1 - 1st Nearby
$200
$150
$220
$165
$270
$203
Tier 2: 2nd Nearby and Greater
$150
$100
$165
$110
$203
$135
San Juan Swap (NJ)            
Tier 1 - 1st Nearby
$700
$500
$770
$550
$945
$675
Tier 2: 2nd Nearby and Greater
$600
$500
$660
$550
$810
$675
Socal Swap (NS)            
Tier 1 - 1st Nearby
$650
$400
$715
$440
$878
$540
Tier 2: 2nd Nearby and Greater
$500
$300
$550
$330
$675
$405
Transco Zone 6 Swap (NZ)            
Tier 1 - 1st Nearby
$650
$650
$715
$715
$878
$878
Tier 2: 2nd Nearby
$250
$250
$275
$275
$338
$338
Tier 3: 3rd - 6th Nearby
$250
$200
$275
$220
$338
$270
Tier 4: 7th - 12th Nearby
$200
$200
$220
$220
$270
$270
Tier 5: 13th And Greater
$100
$150
$110
$165
$135
$203
Northwest Pipeline, Rockies Swap (NR)            
Tier 1 - 1st Nearby
$1,800
$1,800
$1,980
$1,980
$2,430
$2,430
Tier 2: 2nd Nearby
$1,200
$1,200
$1,320
$1,320
$1,620
$1,620
Tier 3: 3rd - 6th Nearby
$1,000
$1,000
$1,100
$1,100
$1,350
$1,350
Tier 4: 7th - 12th Nearby
$600
$600
$660
$660
$810
$810
Tier 5: 13th And Greater
$400
$400
$440
$440
$540
$540
Panhandle Swap (PH)            
Tier 1 - 1st Nearby
$300
$175
$330
$193
$405
$236
Tier 2: 2nd Nearby and Greater
$175
$100
$193
$110
$236
$135
MichCon Swap (NF)            
Tier 1 - 1st Nearby
$200
$250
$220
$275
$270
$338
Tier 2: 2nd Nearby and Greater
$150
$100
$165
$110
$203
$135
Permian Swap (PM)            
Tier 1 - 1st Nearby
$600
$350
$660
$385
$810
$473
Tier 2: 2nd Nearby and Greater
$250
$250
$275
$275
$338
$338
Texas Eastern Zone M-3 Swap (NX)            
Tier 1 - 1st Nearby
$550
$450
$605
$495
$743
$608
Tier 2: 2nd Nearby and Greater
$475
$250
$523
$275
$641
$338
TCO Swap (TC)            
Tier 1 - 1st Nearby
$150
$150
$165
$165
$203
$203
Tier 2: 2nd Nearby and Greater
$100
$100
$110
$110
$135
$135
PGE&E Malin Swap (PB)            
Tier 1 - 1st Nearby
$750
$400
$825
$440
$1,013
$540
Tier 2: 2nd Nearby and Greater
$500
$275
$550
$303
$675
$371
PGE&E Citygate Swap (PC)            
Tier 1 - 1st Nearby
$500
$375
$550
$413
$675
$506
Tier 2: 2nd Nearby and Greater
$500
$250
$550
$275
$675
$338
NGPL Tex / OK Swap (PD)            
Tier 1 - 1st Nearby
$150
$125
$165
$138
$203
$169
Tier 2: 2nd Nearby and Greater
$100
$50
$110
$55
$135
$68
NGPL LA Swap (NY)            
Tier 1 - 1st Nearby
$200
$200
$220
$220
$270
$270
Tier 2: 2nd Nearby and Greater
$200
$200
$220
$220
$270
$270
ANR Oklahoma Swap (NE)            
Tier 1 - 1st Nearby
$125
$125
$138
$138
$169
$169
Tier 2: 2nd Nearby and Greater
$100
$100
$110
$110
$135
$135
SUMAS Swap (NK)            
Tier 1 - 1st Nearby
$300
$300
$330
$330
$405
$405
Tier 2: 2nd Nearby and Greater
$275
$275
$303
$303
$371
$371
NGPL Mid-Continent Swap (NL)            
Tier 1 - 1st Nearby
$350
$200
$385
$220
$473
$270
Tier 2: 2nd Nearby and Greater
$150
$150
$165
$165
$203
$203
Northern Natural Gas Demarcation Swap (PE) Tier 1 - 1st Nearby
$200
$200
$220
$220
$270
$270
Tier 2: 2nd Nearby and Greater
$100
$100
$110
$110
$135
$135
Northern Natural Gas Ventura, Iowa Swap (PF) Tier 1 - 1st Nearby
$175
$175
$193
$193
$236
$236
Tier 2: 2nd Nearby and Greater
$100
$100
$110
$110
$135
$135
Dominion Transmission Inc. – Appalachia Swap (PG)            
Tier 1 - 1st Nearby
$250
$250
$275
$275
$338
$338
Tier 2: 2nd Nearby and Greater
$200
$200
$220
$220
$270
$270

NYMEX Division Margins Rates For CIG Rockies and Waha Basis Swaps
 
Clearing Member /
Maintenance Margin
Member Customer
Initial Margin
Non-Member Customer
Initial Margin
NATURAL GAS BASIS FINANCIAL
New
Old
New
Old
New
Old
CIG Rockies Swap (CI)            
Tier 1 - 1st Nearby
$1,800
None
$1,980
None
$2,430
None
Tier 2: 2nd Nearby
$1,200
None
$1,320
None
$1,620
None
Tier 3: 3rd - 6th Nearby
$1,000
None
$1,100
None
$1,350
None
Tier 4: 7th - 12th Nearby
$600
None
$660
None
$810
None
Tier 5: 13th And Greater
$400
None
$440
None
$540
None
Waha Swap (NW)            
Tier 1 - 1st Nearby
$650
None
$715
None
$878
None
Tier 2: 2nd Nearby and Greater
$450
None
$495
None
$608
None

This notice supersedes all previous notices regarding margins rates for the Natural Gas Basis swap contracts listed above.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com