03/04/2003
| Effective Date: | Wednesday, March 5, 2003 (close of business) |
| Futures Contracts: | Margin Rate Change and New Spread Credit Ratios: PJM Interconnection West (QJ), NYISO A (KA), NYISO G (KG), and NYISO J (KJ) |
| New Spread Credit Ratios Only: Palo Verde (KV), Mid Columbia (KM) |
|
| Contract Months: | All Months |
| Rate Change: |
NYMEX Division Margins for PJM Interconnection West Futures Contracts
| Clearing Member (Maintenance Margin): | Old: $2,500 | New: $4,500 |
| Member Customer (Initial Margin): | Old: $2,750 | New: $4,950 |
| Non-Member Customer (Initial Margin): | Old: $3,375 | New: $6,075 |
NYMEX Division Margins for NYISO A and NYISO G Futures Contracts
| Clearing Member (Maintenance Margin): | Old: $1,500 | New: $3,750 |
| Member Customer (Initial Margin): | Old: $1,650 | New: $4,125 |
| Non-Member Customer (Initial Margin): | Old: $2,025 | New: $5,063 |
NYMEX Division Margins for NYISO J Futures Contracts
| Clearing Member (Maintenance Margin): | Old: $1,500 | New: $5,000 |
| Member Customer (Initial Margin): | Old: $1,650 | New: $5,500 |
| Non-Member Customer (Initial Margin): | Old: $2,025 | New: $6,750 |
NYMEX Division Spread Credits For NYMEX Division Electricity Contracts
| Spread | Priority | New Ratio | Old Ratio | Percent Credit |
| NG:KV / NN:KV | 77 | 2:1 / 8:1 | 1:2 / 2:1 | 60 |
| NG:QJ / NN:QJ | 78 | 2:1 / 8:1 | 1:2 / 2:1 | 60 |
| NG:KM / NN:KM | 79 | 2:1 / 8:1 | 1:2 / 2:1 | 60 |
| NZ:NG:QJ | 81 | 8:02:01 | 4:01:02 | 60 |
| NS:NG:KV | 82 | 8:02:01 | 4:01:02 | 60 |
| NJ:NG:KV | 83 | 8:02:01 | 4:01:02 | 60 |
| NR:NG:KM | 84 | 8:02:01 | 4:01:02 | 60 |
| KA:NG | 85 | 2:01 | 1:02 | 60 |
| KG:NG | 86 | 2:01 | 1:02 | 60 |
| KJ:NG | 87 | 2:01 | 1:02 | 60 |
| NF:NG:QJ | 94 | 8:02:01 | 4:01:02 | 60 |
| NX:NG:QJ | 95 | 8:02:01 | 4:01:02 | 60 |
| TC:NG:QJ | 96 | 8:02:01 | 4:01:02 | 60 |
| PD:NG:QJ | 97 | 8:02:01 | 4:01:02 | 60 |
| NY:NG:QJ | 98 | 8:02:01 | 4:01:02 | 60 |
| NE:NG:QJ | 99 | 8:02:01 | 4:01:02 | 60 |
| NK:NG:QJ | 100 | 8:02:01 | 4:01:02 | 60 |
| NL:NG:QJ | 101 | 8:02:01 | 4:01:02 | 60 |
| PE:NG:QJ | 102 | 8:02:01 | 4:01:02 | 60 |
| PF:NG:QJ | 103 | 8:02:01 | 4:01:02 | 60 |
| PG:NG:QJ | 104 | 8:02:01 | 4:01:02 | 60 |
| NF:NG:KA | 105 | 8:02:01 | 4:01:02 | 60 |
| NX:NG:KA | 106 | 8:02:01 | 4:01:02 | 60 |
| TC:NG:KA | 107 | 8:02:01 | 4:01:02 | 60 |
| PD:NG:KA | 108 | 8:02:01 | 4:01:02 | 60 |
| NY:NG:KA | 109 | 8:02:01 | 4:01:02 | 60 |
| NE:NG:KA | 110 | 8:02:01 | 4:01:02 | 60 |
| NK:NG:KA | 111 | 8:02:01 | 4:01:02 | 60 |
| NL:NG:KA | 112 | 8:02:01 | 4:01:02 | 60 |
| PE:NG:KA | 113 | 8:02:01 | 4:01:02 | 60 |
| PF:NG:KA | 114 | 8:02:01 | 4:01:02 | 60 |
| PG:NG:KA | 115 | 8:02:01 | 4:01:02 | 60 |
| NF:NG:KG | 116 | 8:02:01 | 4:01:02 | 60 |
| NX:NG:KG | 117 | 8:02:01 | 4:01:02 | 60 |
| TC:NG:KG | 118 | 8:02:01 | 4:01:02 | 60 |
| PD:NG:KG | 119 | 8:02:01 | 4:01:02 | 60 |
| NY:NG:KG | 120 | 8:02:01 | 4:01:02 | 60 |
| NE:NG:KG | 121 | 8:02:01 | 4:01:02 | 60 |
| NK:NG:KG | 122 | 8:02:01 | 4:01:02 | 60 |
| NL:NG:KG | 123 | 8:02:01 | 4:01:02 | 60 |
| PE:NG:KG | 124 | 8:02:01 | 4:01:02 | 60 |
| PF:NG:KG | 125 | 8:02:01 | 4:01:02 | 60 |
| PG:NG:KG | 126 | 8:02:01 | 4:01:02 | 60 |
| NF:NG:KJ | 127 | 8:02:01 | 4:01:02 | 60 |
| NX:NG:KJ | 128 | 8:02:01 | 4:01:02 | 60 |
| TC:NG:KJ | 129 | 8:02:01 | 4:01:02 | 60 |
| PD:NG:KJ | 130 | 8:02:01 | 4:01:02 | 60 |
| NY:NG:KJ | 131 | 8:02:01 | 4:01:02 | 60 |
| NE:NG:KJ | 132 | 8:02:01 | 4:01:02 | 60 |
| NK:NG:KJ | 133 | 8:02:01 | 4:01:02 | 60 |
| NL:NG:KJ | 134 | 8:02:01 | 4:01:02 | 60 |
| PE:NG:KJ | 135 | 8:02:01 | 4:01:02 | 60 |
| PF:NG:KJ | 136 | 8:02:01 | 4:01:02 | 60 |
| PG:NG:KJ | 137 | 8:02:01 | 4:01:02 | 60 |
| PM:NG:KV | 138 | 8:02:01 | 4:01:02 | 60 |
| NX:NG:KV | 139 | 8:02:01 | 4:01:02 | 60 |
| PB:NG:KV | 140 | 8:02:01 | 4:01:02 | 60 |
| PC:NG:KV | 141 | 8:02:01 | 4:01:02 | 60 |
| PM:NG:KM | 142 | 8:02:01 | 4:01:02 | 60 |
| NX:NG:KM | 143 | 8:02:01 | 4:01:02 | 60 |
| PB:NG:KM | 144 | 8:02:01 | 4:01:02 | 60 |
| PC:NG:KM | 145 | 8:02:01 | 4:01:02 | 60 |
This notice supersedes all previous notices regarding margin for the NYMEX PJM Interconnection West, NYISO A, NYISO G and NYISO J, as well as, all inter-commodity spread credits between NYMEX electricity and natural gas futures contracts.