Notice to Members
Notice No. 05
01/06/2003
NYMEX Division SPAN Parameters for WTI and Brent Calendar Spread Options
Below NYMEX Division SPAN parameters for WTI Light Sweet Crude Oil and Brent Crude Oil Calendar Spread Options are provided. These parameters are updated monthly upon spot month termination.

Effective Date: Monday, January 6,2003 (close of business)

Products: WTI Light Sweet Crude Oil and Brent Calendar Spread Options

Currently the spot month for the above referenced contracts is February 2003. Accordingly, the futures scan ranges that establish maximum short option margin for WTI Crude Oil Calendar Spread options are:

Regular Option Symbol
Synthetic Futures Symbol
Intra-Commodity Spread Tier
Scan Range
WAG03
CAG03
1
400
WAH03
CAHO3
2
250
WAJ03
CAJ03
2
250
WAK03
CAK03
2
250
WAM03
CAM03
2
250
WAN03
CAN03
2
250
WAQ03
CAQ03
3
150
WAU03
CAU03
3
150
WAV03
CAV03
3
150
WAX03
CAX03
3
150
WAZ03
CAZ03
3
150
WAF04
CAF04
3
150
WBG03
CQG03
1
400
WBH03
CQH03
2
250
WCG03
CTG03
1
400
WMM03
CVM03
2
250
WMZ03
CVZ03
3
150
WZZ03
CXZ03
3
150


The futures scan ranges that establish maximum short option margin for Brent Crude Oil Calendar Spread options are:

Regular Option Symbol Synthetic Futures Symbol Intra-Commodity Spread Tier Scan Range
AAG03 BDG03 1 400
AAHO3 BDH03 2 250
AAJ03 BDJ03 2 250
AAK03 BDK03 2 250
AAM03 BDM03 2 250
AAN03 BDN03 2 250
AAQ03 BDQ03 3 150
AAU03 BDU03 3 150
AAV03 BDV03 3 150
AAX03 BDX03 3 150
AAZ03 BDZ03 3 150
AAF04 BDF04 3 150
ABG03 BFG03 1 400
ABH03 BFH03 2 250
ACG03 BJG03 1 400
AMM03 BMM03 2 250
AMZ03 BMZ03 3 150
AZZ03 BQZ03 3 150


Should you have any questions regarding these changes, please contact Arthur McCoy at (212) 299-2928 or Joe Sanguedolce at (212) 299-2855. This notice supercedes all previous notices regarding NYMEX Division SPAN parameters for WTI Light Sweet Crude Oil and Brent Crude Oil Calendar Spread Option contracts.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com