Notice to Members
Notice No. 119
03/02/2006
Margin Rates Change for Existing NYMEX Division Natural Gas Basis Swap Contracts
Effective Date: Friday, March 3, 2006 (close of business)

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), Panhandle 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), Sonat Basis Swap (SZ), Transco Zone 4 (TR)
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
$2,000
$1,650
$2,200
$2,025
$2,700
$0
$500
      Tier 2: 2nd Nearby
$1,000
$650
$1,100
$715
$1,350
$878
 
 
      Tier 3: 3rd - 6th Nearby
$550
$500
$605
$550
$743
$675
 
 
      Tier 4: 7th - 12th Nearby
$400
$300
$440
$330
$540
$405
 
 
      Tier 5: 13th And Greater
$300
$200
$330
$220
$405
$270
 
 
  Chicago Swap (NB)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$700
$800
$770
$880
$945
$1,080
$300
$500
      Tier 2: 2nd Nearby and Greater
$450
$200
$495
$220
$608
$270
 
 
  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
$900
$1,000
$990
$1,100
$1,215
$1,350
$400
$500
      Tier 2: 2nd Nearby and Greater
$600
$300
$660
$330
$810
$405
 
 
  San Juan  Swap (NJ)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$1,200
$2,000
$1,320
$2,200
$1,620
$2,700
$250
$250
      Tier 2: 2nd Nearby
$775
$775
$853
$853
$1,046
$1,046
 
 
      Tier 3: 3rd - 6th Nearby
$500
$500
$550
$550
$675
$675
 
 
      Tier 4: 7th - 12th Nearby
$400
$300
$440
$330
$540
$405
 
 
      Tier 5: 13th And Greater
$300
$200
$330
$220
$405
$270
 
 
  Socal  Swap (NS)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,500
$2,000
$1,650
$2,200
$2,025
$2,700
$0
$250
      Tier 2: 2nd Nearby and Greater
$650
$650
$715
$715
$878
$878
 
 
  Transco Zone 6  Swap (NZ)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$500
$1,200
$550
$1,320
$675
$1,620
$100
$100
      Tier 2: 2nd Nearby
$500
$1,100
$550
$1,210
$675
$1,485
 
 
      Tier 3: 3rd - 6th Nearby
$300
$500
$330
$550
$405
$675
 
 
      Tier 4: 7th - 12th Nearby
$800
$200
$880
$220
$1,080
$270
 
 
      Tier 5: 13th And Greater
$200
$100
$220
$110
$270
$135
 
 
  Northwest Pipeline, Rockies  Swap (NR)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,200
$1,500
$1,320
$1,650
$1,620
$2,025
$300
$500
      Tier 2: 2nd Nearby
$800
$800
$880
$880
$1,080
$1,080
 
 
      Tier 3: 3rd - 6th Nearby
$500
$500
$550
$550
$675
$675
 
 
      Tier 4: 7th - 12th Nearby
$500
$225
$550
$248
$675
$304
 
 
      Tier 5: 13th And Greater
$300
$125
$330
$138
$405
$169
 
 
  Panhandle  Swap (PH)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$900
$1,100
$990
$1,210
$1,215
$1,485
$300
$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
$300
$100
$330
$110
$405
$135
 
 
  Permian Swap (PM)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,200
$1,400
$1,320
$1,540
$1,620
$1,890
$300
$500
      Tier 2: 2nd Nearby and Greater
$700
$700
$770
$770
$945
$945
 
 
  Texas Eastern Zone M-3 Swap (NX)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,000
$1,300
$1,100
$1,430
$1,350
$1,755
$0
$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
$1,500
$1,500
$1,650
$1,650
$2,025
$2,025
$500
$500
      Tier 2: 2nd Nearby and Greater
$700
$700
$770
$770
$945
$945
 
 
  PGE&E Citygate Swap (PC)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,500
$2,000
$1,650
$2,200
$2,025
$2,700
$300
$500
      Tier 2: 2nd Nearby and Greater
$500
$500
$550
$550
$675
$675
 
 
  NGPL Tex / OK Swap (PD)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$800
$1,000
$880
$1,100
$1,080
$1,350
$100
$250
      Tier 2: 2nd Nearby and Greater
$500
$500
$550
$550
$675
$675
 
 
  NGPL LA Swap (NY)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$500
$50
$550
$55
$675
$68
$25
$25
      Tier 2: 2nd Nearby and Greater
$250
$50
$275
$55
$338
$68
 
 
  ANR Oklahoma Swap (NE)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,200
$1,200
$1,320
$1,320
$1,620
$1,620
$400
$400
      Tier 2: 2nd Nearby and Greater
$600
$600
$660
$660
$810
$810
 
 
  SUMAS Swap (NK)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,500
$2,000
$1,650
$2,200
$2,025
$2,700
$150
$300
      Tier 2: 2nd Nearby and Greater
$700
$700
$770
$770
$945
$945
 
 
  NGPL Mid-Continent Swap (NL)
 
 
 
 
 
 
 
 
      Tier 1: 1st Nearby
$925
$925
$1,018
$1,018
$1,249
$1,249
$250
$250
      Tier 2: 2nd Nearby
$475
$475
$523
$523
$641
$641
 
 
      Tier 3: 3rd - 6th Nearby
$675
$675
$743
$743
$911
$911
 
 
      Tier 4: 7th - 12th Nearby
$450
$275
$495
$303
$608
$371
 
 
      Tier 5: 13th And Greater
$300
$175
$330
$193
$405
$236
 
 
  Northern Natural Gas Demarcation Swap (PE)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,300
$1,300
$1,430
$1,430
$1,755
$1,755
$250
$250
      Tier 2: 2nd Nearby and Greater
$400
$400
$440
$440
$540
$540
 
 
  Northern Natural Gas Ventura, Iowa Swap (PF)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,300
$1,300
$1,430
$1,430
$1,755
$1,755
$250
$250
      Tier 2: 2nd Nearby and Greater
$500
$500
$550
$550
$675
$675
 
 
  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
$2,000
$2,000
$2,200
$2,200
$2,700
$2,700
$250
$250
      Tier 2: 2nd Nearby
$800
$800
$880
$880
$1,080
$1,080
 
 
      Tier 3: 3rd - 6th Nearby
$600
$450
$660
$495
$810
$608
 
 
      Tier 4: 7th - 12th Nearby
$500
$300
$550
$330
$675
$405
 
 
      Tier 5: 13th And Greater
$350
$200
$385
$220
$473
$270
 
 
  Waha Swap (NW)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$1,300
$1,300
$1,430
$1,430
$1,755
$1,755
$750
$750
      Tier 2: 2nd Nearby and Greater
$600
$600
$660
$660
$810
$810
 
 
  Tetco Eastern South/STX (TX)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$900
$900
$990
$990
$1,215
$1,215
$100
$100
      Tier 2: 2nd Nearby
$650
$650
$715
$715
$878
$878
 
 
      Tier 3: 3rd - 6th Nearby
$500
$500
$550
$550
$675
$675
 
 
      Tier 4: 7th - 12th Nearby
$550
$400
$605
$440
$743
$540
 
 
      Tier 5: 13th And Greater
$200
$200
$220
$220
$270
$270
 
 
  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
$250
$275
$275
$338
$338
$100
$100
      Tier 2: 2nd Nearby
$200
$200
$220
$220
$270
$270
 
 
      Tier 3: 3rd - 6th Nearby
$200
$200
$220
$220
$270
$270
 
 
      Tier 4: 7th - 12th Nearby
$200
$200
$220
$220
$270
$270
 
 
      Tier 5: 13th And Greater
$75
$75
$83
$83
$101
$101
 
 
  ANR, LA (ND)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$150
$50
$165
$55
$203
$68
$50
$50
      Tier 2: 2nd Nearby and Greater
$50
$50
$55
$55
$68
$68
 
 
  Tennessee, Zone 0 (NQ)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$900
$900
$990
$990
$1,215
$1,215
$100
$100
      Tier 2: 2nd Nearby and Greater
$600
$600
$660
$660
$810
$810
 
 
  Tennessee, LA 500 (NM)
 
 
 
 
 
 
 
 
      Tier 1 - 1st Nearby
$150
$150
$165
$165
$203
$203
$50
$50
      Tier 2: 2nd Nearby and Greater
$125
$100
$138
$110
$169
$135
 
 
  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
$500
$500
$550
$550
$675
$675
$100
$100
      Tier 2: 2nd Nearby and Greater
$200
$200
$220
$220
$270
$270
 
 
  Sonat (SZ)
 
 
 
 
 
 
 
 
      Tier 1 - All Months
$125
$125
$138
$138
$169
$169
$100
$100
  Transco Zone 4 (TR)
 
 
 
 
 
 
 
 
      Tier 1 - All Months
$125
$125
$138
$138
$169
$169
$100
$100


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