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. |