Notice to Members
Notice No. 118
03/09/2006
New Margin Rates and Tiers for the New Financially Settled European Petroleum Swaps Contracts
EFFECTIVE DATE: Monday, March 13, 2006 (close of business)

FUTURES CONTRACTS:
NYMEX Brent Bullet Swap (BN), NYMEX Brent-WTI Bullet Swap, European Gasoil (ICE) Calendar Swap (GX), European Gasoil 0.2 CIF MED Swap (GG), European Gasoil 10PPM Rdam Barges Swap (GT), European ULSD 50 PPM CIF NWE Swap (ES), European ULSD 50 PPM CIF MED Swap (EH), European ULSD 50 PPM FOB MED Swap (EL), 3.5% Fuel Oil Rdam v 3.5% FOB MED Spread Swap (FK), 3.5% Fuel Oil FOB MED Crack Spread Swap (FL)
CONTRACT MONTHS: All Months

NYMEX Division Outright (Scan) Spread Tiers for BN, WN, GG, GT, ES, EH, EL, FK, and FL
 
Tiers
New
1
All Months

NYMEX Division Outright (Scan) Spread Tiers for GX
 
Tiers
New
1
1st Nearby
2
2nd - 6th Nearby
3
7th - 11th Nearby
4
Greater than 11th Nearby


NYMEX Division Outright (Scan) Margins for New European Petroleum Futures Contracts
 
Tiers
Clearing Member / Maintenance Margin
Member Customer Initial Margin
Non-Member Customer Initial Margin
 
New
New
New
BN (throught Dec 06)
$3,500
$3,850
$4,725
BN (all other months)
$2,500
$2,750
$3,375
WN (throught Dec 06)
$350
$385
$473
WN (all other months)
$250
$275
$338
GX (Tier 1 - 1st Nearby)
$33,800
$37,180
$45,630
GX (Tier 2 - 2nd thru 6th Nearby)
$32,000
$35,200
$43,200
GX (Tier 3 - 7th thru 11th Nearby)
$28,200
$31,020
$38,070
GX (Tier 4 - Greater than 11th Nearby)
$24,500
$26,950
$33,075
GG
$21,000
$23,100
$28,350
GT
$21,000
$23,100
$28,350
ES
$21,000
$23,100
$28,350
EH
$21,000
$23,100
$28,350
EL
$21,000
$23,100
$28,350
FK
$3,400
$3,740
$4,590
FL
$2,750
$3,025
$3,713

Intra-Commodity Spread Tiers for WN, GG, GT, ES, EH, EL, FK, and FL
 
Tiers
New
1
All Months

Intra-Commodity Spread Tiers for BN and GX
 
Tiers
New
1
1st Nearby
2
2nd - 6th Nearby
3
7th - 11th Nearby
4
Greater than 11th Nearby

NYMEX Division Intra-Commodity Spread Margins on New European Petroleum Futures Contracts
 
Tiers
Clearing Member / Maintenance Margin
Member Customer Initial Margin
Non-Member Customer Initial Margin
 
New
New
New
BN (Tier 1 - 1st Nearby)
$400
$440
$540
BN (Tier 2 - 2nd thru 6th Nearby)
$250
$275
$338
BN (Tier 3 - 7th thru 11th Nearby)
$150
$165
$203
BN (Tier 4 - Greater than 11th Nearby)
$100
$110
$135
WN
$50
$55
$68
GX (Tier 1 - 1st Nearby)
$2,000
$2,200
$2,700
GX (Tier 2 - 2nd thru 6th Nearby)
$1,250
$1,375
$1,688
GX (Tier 3 - 7th thru 11th Nearby)
$1,250
$1,375
$1,688
GX (Tier 4 - Greater than 11th Nearby)
$750
$825
$1,013
GG
$3,400
$3,740
$4,590
GT
$3,400
$3,740
$4,590
ES
$3,400
$3,740
$4,590
EH
$3,400
$3,740
$4,590
EL
$3,400
$3,740
$4,590
FK
$350
$385
$473
FL
$200
$220
$270


NYMEX Division Inter-Commodity Spread Credits on New European Petroleum Futures Contracts
Spread
Priority
Ratio
% Credit
BN:SC
46
1:01
98
BN:SA
47
1:01
98
BN:UB
48
1:01
98
BN:CS
118
1:01
95
BN:CL
119
1:01
95
UI:CY
322
1:07
65
BN:GR
323
3:04
65

Should you have any questions or require any further information, please contact exchangeinfo@nymex.com