Notice to Members
Notice No. 499
10/28/2005
Margin Rates Change for Existing NYMEX Division Natural Gas Basis Swap Contracts
EFFECTIVE DATE: Monday, October 31, 2005 (close of business)

FUTURES CONTRACTS:
Alberta Gas Basis Swap (NA), Chicago Basis Swap (NB), Henry Hub Basis Swap (HB), Houston Ship Channel Basis Swap (NH), San Juan Basis Swap (NJ), Socal Basis Swap (NS), Transco Zone 6 Basis Swap (NZ), Northwest Pipeline Rockies Basis Swap (NR), Panh andle Basis Swap (PH), Michcon Basis Swap (NF), Permian Basin Basis Swap (PM), Texas Eastern Zone M-3 Basis Swap (NX), TCO Basis Swap (TC), PGE&E Malin Basis Swap (PB), PGE&E Citygate Basis Swap (PC), NGPL Tex/OK Basis Swap (PD), NGPL LA Basis Swap (NY), ANR Oklahoma (NE), SUMAS Basis Swap (NK), NGPL Mid-Continent (NL), Northern Natural Gas Demarcation Basis Swap (PE), Northern Natural Gas Ventura, Iowa Basis Swap (PF), Dominion Transmission Inc. – Appalachia Basis Swap (PG), CIG Rockies Basis Swap (CI), Waha Basis Swap (NW), Tetco Eastern South Basis Swap (TX), Columbia Gulf Onshore Basis Swap (GL), Tectco ELA Basis Swap (TE), Transco Zone 3 Basis Swap (CZ), ANR LA Basis Swap (ND), Tennessee Zone 0 Basis Swap (NQ), Tennessee 500 Leg Basis Swap (NM), Trunkline, LA Basis Swap (NU), Kern River Wyoming Basis Swap (NV), Questar Basis Swap (TA), Texas Gas, SL Basis Swap (TB)
CONTRACT MONTHS: All Months

Note: The revised margin rates are in bold


NYMEX Division Margin Rates For Existing Natural Gas Basis Swaps
 
 
Clearing Member / Maintenance Margin
Member Customer Initial Margin
Non-Member Customer Initial Margin
Spot Assessment
 Natural Gas Basis Financial
New
Old
New
Old
New
Old
New
Old
Alberta Gas Swap (NA)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,500
$700
$1,650
$770
$2,025
$945
$500
$500
      Tier 2: 2nd Nearby
$650
$350
$715
$385
$878
$473
 
 
      Tier 3: 3rd - 6th Nearby
$500
$200
$550
$220
$675
$270
 
 
      Tier 4: 7th - 12th Nearby
$300
$125
$330
$138
$405
$169
 
 
      Tier 5: 13th and Greater
$200
$100
$220
$110
$270
$135
 
 
Chicago Swap (NB)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$800
$600
$880
$660
$1,080
$810
$500
$500
      Tier 2: 2nd Nearby and Greater
$200
$125
$220
$138
$270
$169
 
 
Henry Hub Swap (HB)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$50
$50
$55
$55
$68
$68
$0
$0
      Tier 2: 2nd Nearby and Greater
$50
$50
$55
$55
$68
$68
 
 
Houston Ship Channel Swap (NH)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,000
$1,000
$1,100
$1,100
$1,350
$1,350
$500
$500
      Tier 2: 2nd Nearby and Greater
$300
$300
$330
$330
$405
$405
 
 
San Juan Swap (NJ)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,100
$850
$1,210
$935
$1,485
$1,148
$250
$250
      Tier 2: 2nd Nearby and Greater
$475
$475
$523
$523
$641
$641
 
 
Socal Swap (NS)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,100
$900
$1,210
$990
$1,485
$1,215
$250
$250
      Tier 2: 2nd Nearby and Greater
$550
$475
$605
$523
$743
$641
 
 
Transco Zone 6 Swap (NZ)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$600
$350
$660
$385
$810
$473
$100
$100
      Tier 2: 2nd Nearby
$550
$550
$605
$605
$743
$743
 
 
      Tier 3: 3rd - 6th Nearby
$1,000
$800
$1,100
$880
$1,350
$1,080
 
 
      Tier 4: 7th - 12th Nearby
$200
$150
$220
$165
$270
$203
 
 
      Tier 5: 13th and Greater
$100
$100
$110
$110
$135
$135
 
 
Northwest Pipeline, Rockies Swap (NR)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,100
$750
$1,210
$825
$1,485
$1,013
$500
$500
      Tier 2: 2nd Nearby
$800
$500
$880
$550
$1,080
$675
 
 
      Tier 3: 3rd - 6th Nearby
$500
$500
$550
$550
$675
$675
 
 
      Tier 4: 7th - 12th Nearby
$225
$225
$248
$248
$304
$304
 
 
      Tier 5: 13th and Greater
$125
$125
$138
$138
$169
$169
 
 
Panh andle Swap (PH)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,100
$900
$1,210
$990
$1,485
$1,215
$500
$500
      Tier 2: 2nd Nearby and Greater
$500
$500
$500
$500
$500
$500
 
 
MichCon Swap (NF)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$625
$625
$688
$688
$844
$844
$100
$100
      Tier 2: 2nd Nearby and Greater
$100
$100
$110
$110
$135
$135
 
 
Permian Swap (PM)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,400
$1,200
$1,540
$1,320
$1,890
$1,620
$500
$500
      Tier 2: 2nd Nearby and Greater
$700
$500
$770
$550
$945
$675
 
 
Texas Eastern Zone M-3 Swap (NX)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$700
$325
$770
$358
$945
$439
$100
$100
      Tier 2: 2nd Nearby and Greater
$500
$500
$550
$550
$675
$675
 
 
TCO Swap (TC)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$200
$200
$220
$220
$270
$270
$50
$50
      Tier 2: 2nd Nearby and Greater
$125
$125
$138
$138
$169
$169
 
 
PGE&E Malin Swap (PB)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,200
$1,200
$1,320
$1,320
$1,620
$1,620
$500
$500
      Tier 2: 2nd Nearby and Greater
$500
$500
$550
$550
$675
$675
 
 
PGE&E Citygate Swap (PC)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,300
$1,300
$1,430
$1,430
$1,755
$1,755
$500
$500
      Tier 2: 2nd Nearby and Greater
$500
$500
$550
$550
$675
$675
 
 
NGPL Tex / OK Swap (PD)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,000
$750
$1,100
$825
$1,350
$1,013
$250
$250
      Tier 2: 2nd Nearby and Greater
$500
$300
$550
$330
$675
$405
 
 
NGPL LA Swap (NY)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$50
$50
$55
$55
$68
$68
$25
$25
      Tier 2: 2nd Nearby and Greater
$50
$50
$55
$55
$68
$68
 
 
ANR Oklahoma Swap (NE)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,200
$1,000
$1,320
$1,100
$1,620
$1,350
$400
$400
      Tier 2: 2nd Nearby and Greater
$600
$425
$660
$468
$810
$574
 
 
SUMAS Swap (NK)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,200
$1,000
$1,320
$1,100
$1,620
$1,350
$300
$300
      Tier 2: 2nd Nearby and Greater
$700
$575
$770
$633
$945
$776
 
 
NGPL Mid-Continent Swap (NL)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,200
$900
$1,320
$990
$1,620
$1,215
$250
$250
      Tier 2: 2nd Nearby and Greater
$500
$250
$550
$275
$675
$338
 
 
Northern Natural Gas Demarcation Swap (PE)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,300
$850
$1,430
$935
$1,755
$1,148
$250
$250
      Tier 2: 2nd Nearby and Greater
$400
$275
$440
$303
$540
$371
 
 
Northern Natural Gas Ventura, Iowa Swap (PF)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,300
$750
$1,430
$825
$1,755
$1,013
$250
$250
      Tier 2: 2nd Nearby and Greater
$500
$350
$550
$385
$675
$473
 
 
Dominion Transmission Inc. – Appalachia Swap (PG)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$325
$325
$358
$358
$439
$439
$100
$100
      Tier 2: 2nd Nearby and Greater
$200
$200
$220
$220
$270
$270
 
 
CIG Rockies Swap (CI)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,200
$1,800
$1,320
$1,980
$1,620
$2,430
$250
$250
      Tier 2: 2nd Nearby
$600
$500
$660
$550
$810
$675
 
 
      Tier 3: 3rd - 6th Nearby
$450
$450
$495
$495
$608
$608
 
 
      Tier 4: 7th - 12th Nearby
$300
$300
$330
$330
$405
$405
 
 
      Tier 5: 13th and Greater
$200
$200
$220
$220
$270
$270
 
 
Waha Swap (NW)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,300
$1,100
$1,430
$1,210
$1,755
$1,485
$750
$750
      Tier 2: 2nd Nearby and Greater
$600
$350
$660
$385
$810
$473
 
 
Tetco Eastern South/STX (TX)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$900
$400
$990
$440
$1,215
$540
$100
$100
      Tier 2: 2nd Nearby
$650
$250
$715
$275
$878
$338
 
 
      Tier 3: 3rd - 6th Nearby
$500
$200
$550
$220
$675
$270
 
 
      Tier 4: 7th - 12th Nearby
$400
$150
$440
$165
$540
$203
 
 
      Tier 5: 13th and Greater
$200
$125
$220
$138
$270
$169
 
 
Columbia Gulf Onshore Basis (GL)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$75
$75
$83
$83
$101
$101
$1,500
$1,500
      Tier 2: 2nd Nearby
$75
$75
$83
$83
$101
$101
 
 
      Tier 3: 3rd - 6th Nearby
$75
$75
$83
$83
$101
$101
 
 
      Tier 4: 7th - 12th Nearby
$75
$75
$83
$83
$101
$101
 
 
      Tier 5: 13th and Greater
$75
$75
$83
$83
$101
$101
 
 
Tectco ELA Basis (TE)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$150
$150
$165
$165
$203
$203
$0
$0
      Tier 2: 2nd Nearby
$75
$75
$83
$83
$101
$101
 
 
      Tier 3: 3rd - 6th Nearby
$50
$50
$55
$55
$68
$68
 
 
      Tier 4: 7th - 12th Nearby
$50
$50
$55
$55
$68
$68
 
 
      Tier 5: 13th and Greater
$50
$50
$55
$55
$68
$68
 
 
Transco Zone 3 Basis (CZ)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$250
$180
$275
$198
$338
$243
$100
$100
      Tier 2: 2nd Nearby
$200
$75
$220
$83
$270
$101
 
 
      Tier 3: 3rd - 6th Nearby
$200
$75
$220
$83
$270
$101
 
 
      Tier 4: 7th - 12th Nearby
$200
$75
$220
$83
$270
$101
 
 
      Tier 5: 13th and Greater
$75
$75
$83
$83
$101
$101
 
 
ANR, LA (ND)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$50
$50
$55
$55
$68
$68
$50
$50
      Tier 2: 2nd Nearby and Greater
$50
$50
$55
$55
$68
$68
 
 
Tennessee, Zone 0 (NQ)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$900
$400
$990
$440
$1,215
$540
$100
$100
      Tier 2: 2nd Nearby and Greater
$600
$300
$660
$330
$810
$405
 
 
Tennessee, LA 500 (NM)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$150
$100
$165
$110
$203
$135
$50
$50
      Tier 2: 2nd Nearby and Greater
$100
$75
$110
$83
$135
$101
 
 
Trunkline, LA (NU)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$75
$75
$83
$83
$101
$101
$50
$50
      Tier 2: 2nd Nearby and Greater
$50
$50
$55
$55
$68
$68
 
 
Kern River Basis (NV)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$625
$625
$688
$688
$844
$844
$500
$500
      Tier 2: 2nd Nearby
$325
$325
$358
$358
$439
$439
 
 
      Tier 3: 3rd - 4th Nearby
$300
$300
$330
$330
$405
$405
 
 
      Tier 4: 5th - 11th Nearby
$175
$175
$193
$193
$236
$236
 
 
      Tier 5: 12th and Greater
$100
$100
$110
$110
$135
$135
 
 
Questar Basis (TA)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$900
$900
$990
$990
$1,215
$1,215
$500
$500
      Tier 2: 2nd Nearby
$325
$325
$358
$358
$439
$439
 
 
      Tier 3: 3rd - 4th Nearby
$300
$300
$330
$330
$405
$405
 
 
      Tier 4: 5th - 11th Nearby
$175
$175
$193
$193
$236
$236
 
 
      Tier 5: 12th and Greater
$100
$100
$110
$110
$135
$135
 
 
Texas Gas, SL (TB)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$75
$75
$83
$83
$101
$101
$100
$100
      Tier 2: 2nd Nearby and Greater
$50
$50
$55
$55
$68
$68
 
 


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