NYMEX Division Outright (Scan) Margins on Natural Gas Futures (NG)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
1	$5,000	$4,500	$5,500	$4,950	$6,750	$6,075
2	$5,000	$4,500	$5,500	$4,950	$6,750	$6,075
3	$5,000	$4,000	$5,500	$4,400	$6,750	$5,400
4	$5,000	$4,000	$5,500	$4,400	$6,750	$5,400
5	$5,000	$5,000	$5,500	$5,500	$6,750	$6,750
6	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050
7	$2,750	$2,750	$3,025	$3,025	$3,713	$3,713
8	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375
9	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375

NYMEX Division Outright (Scan) Margins on Natural Gas Futures (NN)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
1	$1,250	$1,125	$1,375	$1,238	$1,688	$1,519
2	$1,250	$1,125	$1,375	$1,238	$1,688	$1,519
3	$1,250	$1,000	$1,375	$1,100	$1,688	$1,350
4	$1,250	$1,000	$1,375	$1,100	$1,688	$1,350
5	$1,250	$1,250	$1,375	$1,375	$1,688	$1,688
6	$750	$750	$825	$825	$1,013	$1,013
7	$688	$688	$756	$756	$928	$928
8	$625	$625	$688	$688	$844	$844
9	$625	$625	$688	$688	$844	$844

NYMEX Division Outright (Scan) Margin on Natural Gas e-miNY Futures (QG)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
1	$2,500	$2,250	$2,750	$2,475	$3,375	$3,038
2	$2,500	$2,250	$2,750	$2,475	$3,375	$3,038

NYMEX Division Outright (Scan) Margin on Henry Hub Swing Swap Futures (SN)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
1	$1,250	$1,125	$1,375	$1,238	$1,688	$1,519

NYMEX Division Outright (Scan) Margin on Henry Hub Penultimate Swap (NP)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
1	$1,250	$1,125	$1,375	$1,238	$1,688	$1,519
2	$1,250	$1,125	$1,375	$1,238	$1,688	$1,519
3	$1,250	$1,000	$1,375	$1,100	$1,688	$1,350
4	$1,250	$1,000	$1,375	$1,100	$1,688	$1,350
5	$1,250	$1,250	$1,375	$1,375	$1,688	$1,688
6	$750	$750	$825	$825	$1,013	$1,013
7	$688	$688	$756	$756	$928	$928
8	$625	$625	$688	$688	$844	$844
9	$625	$625	$688	$688	$844	$844

Current systems calculate the margin requirement for spread positions by first determining the "Scan Risk" and then multiplying the number of spreads by a rate set by the Exchange. Scan Risk is determined by netting the outright margin required for each leg of a spread. Spreading between differently margined contracts results in a higher spread margin than between equally margined contracts. Below is provided an example where the legs of a spread are margined differently.

Scan Risk Example at Clearing Member Rates
A spread consisting of one NG leg in Tier 1 and another in Tier 6 will have its requirement (at the clearing member rates) calculated at $3,000 starting on Tuesday, June 21, 2005.