Notice to Members
Notice No. 180
04/04/2006
Margin Rates and Spot Assessment Changes for Existing NYMEX Division Natural Gas Basis Swap Contracts
EFFECTIVE DATE: Wednesday, April 5, 2006 (close of business)

FUTURES CONTRACTS:
Basis Swaps: 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)

Index Swaps: Henry Hub Index Swap (IN), Chicago City Gate Index Swap (IS), El Paso/Permian Index Swap (IL), Houston Ship Channel Index Swap (IP), Panhandle Index Swap (IV), Waha Index Swap (IY), Dominion Index Swap (IH), PG&E City Gate Index Swap (IK), Northwest Rockies Index Swap (IR), SoCal Index Swap (IF), San Juan Index Swap (IJ), Sumas Index Swap (IU), TETCO M-3 Index Swap (IX), Transco Zone 6 Index Swap (IT)
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
$1,500
$1,650
$1,650
$2,025
$2,025
$0
$0
      Tier 2: 2nd Nearby
$600
$1,000
$660
$1,100
$810
$1,350
      Tier 3: 3rd - 6th Nearby
$450
$550
$495
$605
$608
$743
      Tier 4: 7th - 12th Nearby
$200
$400
$220
$440
$270
$540
      Tier 5: 13th And Greater
$100
$300
$110
$330
$135
$405
Chicago Swap (NB)
      Tier 1 - 1st Nearby
$700
$700
$770
$770
$945
$945
$150
$300
      Tier 2: 2nd Nearby and Greater
$450
$450
$495
$495
$608
$608
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
$800
$900
$880
$990
$1,080
$1,215
$200
$400
      Tier 2: 2nd Nearby and Greater
$600
$600
$660
$660
$810
$810
San Juan Swap (NJ)
      Tier 1: 1st Nearby
$800
$1,200
$880
$1,320
$1,080
$1,620
$125
$250
      Tier 2: 2nd Nearby
$600
$775
$660
$853
$810
$1,046
      Tier 3: 3rd - 6th Nearby
$500
$500
$550
$550
$675
$675
      Tier 4: 7th - 12th Nearby
$300
$400
$330
$440
$405
$540
      Tier 5: 13th And Greater
$250
$300
$275
$330
$338
$405
Socal Swap (NS)
      Tier 1 - 1st Nearby
$1,000
$1,500
$1,100
$1,650
$1,350
$2,025
$125
$250
      Tier 2: 2nd Nearby and Greater
$400
$650
$440
$715
$540
$878
Transco Zone 6 Swap (NZ)
      Tier 1 - 1st Nearby
$300
$500
$330
$550
$405
$675
$0
$100
      Tier 2: 2nd Nearby
$300
$500
$330
$550
$405
$675
      Tier 3: 3rd - 6th Nearby
$200
$300
$220
$330
$270
$405
      Tier 4: 7th - 12th Nearby
$400
$800
$440
$880
$540
$1,080
      Tier 5: 13th And Greater
$500
$200
$550
$220
$675
$270
Northwest Pipeline, Rockies Swap (NR)
      Tier 1 - 1st Nearby
$800
$1,200
$880
$1,320
$1,080
$1,620
$150
$300
      Tier 2: 2nd Nearby
$500
$800
$550
$880
$675
$1,080
      Tier 3: 3rd - 6th Nearby
$400
$500
$440
$550
$540
$675
      Tier 4: 7th - 12th Nearby
$300
$500
$330
$550
$405
$675
      Tier 5: 13th And Greater
$200
$300
$220
$330
$270
$405
Panhandle Swap (PH)
      Tier 1 - 1st Nearby
$500
$900
$550
$990
$675
$1,215
$150
$300
      Tier 2: 2nd Nearby and Greater
$200
$500
$500
$500
$500
$500
MichCon Swap (NF)
      Tier 1 - 1st Nearby
$625
$625
$688
$688
$844
$844
$0
$100
      Tier 2: 2nd Nearby and Greater
$200
$300
$220
$330
$270
$405
Permian Swap (PM)
      Tier 1 - 1st Nearby
$800
$1,200
$880
$1,320
$1,080
$1,620
$150
$300
      Tier 2: 2nd Nearby and Greater
$500
$700
$550
$770
$675
$945
Texas Eastern Zone M-3 Swap (NX)
      Tier 1 - 1st Nearby
$600
$1,000
$660
$1,100
$810
$1,350
$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
$0
$50
      Tier 2: 2nd Nearby and Greater
$125
$125
$138
$138
$169
$169
PGE&E Malin Swap (PB)
      Tier 1 - 1st Nearby
$1,000
$1,500
$1,100
$1,650
$1,350
$2,025
$250
$500
      Tier 2: 2nd Nearby and Greater
$400
$700
$440
$770
$540
$945
PGE&E Citygate Swap (PC)
      Tier 1 - 1st Nearby
$1,000
$1,500
$1,100
$1,650
$1,350
$2,025
$150
$300
      Tier 2: 2nd Nearby and Greater
$300
$500
$330
$550
$405
$675
NGPL Tex / OK Swap (PD)
      Tier 1 - 1st Nearby
$500
$800
$550
$880
$675
$1,080
$0
$100
      Tier 2: 2nd Nearby and Greater
$300
$500
$330
$550
$405
$675
NGPL LA Swap (NY)
      Tier 1 - 1st Nearby
$500
$500
$550
$550
$675
$675
$0
$25
      Tier 2: 2nd Nearby and Greater
$250
$250
$275
$275
$338
$338
ANR Oklahoma Swap (NE)
      Tier 1 - 1st Nearby
$1,000
$1,200
$1,100
$1,320
$1,350
$1,620
$200
$400
      Tier 2: 2nd Nearby and Greater
$500
$600
$550
$660
$675
$810
SUMAS Swap (NK)
      Tier 1 - 1st Nearby
$1,000
$1,500
$1,100
$1,650
$1,350
$2,025
$0
$150
      Tier 2: 2nd Nearby and Greater
$300
$700
$330
$770
$405
$945
NGPL Mid-Continent Swap (NL)
      Tier 1: 1st Nearby
$600
$925
$660
$1,018
$810
$1,249
$125
$250
      Tier 2: 2nd Nearby
$400
$475
$440
$523
$540
$641
      Tier 3: 3rd - 6th Nearby
$300
$675
$330
$743
$405
$911
      Tier 4: 7th - 12th Nearby
$300
$450
$330
$495
$405
$608
      Tier 5: 13th And Greater
$300
$300
$330
$330
$405
$405
Northern Natural Gas Demarcation Swap (PE)
      Tier 1 - 1st Nearby
$800
$1,300
$880
$1,430
$1,080
$1,755
$125
$250
      Tier 2: 2nd Nearby and Greater
$400
$400
$440
$440
$540
$540
Northern Natural Gas Ventura, Iowa Swap (PF)
      Tier 1 - 1st Nearby
$800
$1,300
$880
$1,430
$1,080
$1,755
$125
$250
      Tier 2: 2nd Nearby and Greater
$300
$500
$330
$550
$405
$675
Dominion Transmission Inc. – Appalachia Swap (PG)
      Tier 1 - 1st Nearby
$325
$325
$358
$358
$439
$439
$0
$100
      Tier 2: 2nd Nearby and Greater
$200
$200
$220
$220
$270
$270
CIG Rockies Swap (CI)
      Tier 1 - 1st Nearby
$1,500
$2,000
$1,650
$2,200
$2,025
$2,700
$125
$250
      Tier 2: 2nd Nearby
$600
$800
$660
$880
$810
$1,080
      Tier 3: 3rd - 6th Nearby
$450
$600
$495
$660
$608
$810
      Tier 4: 7th - 12th Nearby
$200
$500
$220
$550
$270
$675
      Tier 5: 13th And Greater
$450
$350
$495
$385
$608
$473
Waha Swap (NW)
      Tier 1 - 1st Nearby
$1,000
$1,300
$1,100
$1,430
$1,350
$1,755
$300
$750
      Tier 2: 2nd Nearby and Greater
$500
$600
$550
$660
$675
$810
Tetco Eastern South/STX (TX)
      Tier 1 - 1st Nearby
$900
$900
$990
$990
$1,215
$1,215
$0
$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
$550
$605
$605
$743
$743
      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
$700
$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
$0
$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
$150
$165
$165
$203
$203
$0
$50
      Tier 2: 2nd Nearby and Greater
$50
$50
$55
$55
$68
$68
Tennessee, Zone 0 (NQ)
      Tier 1 - 1st Nearby
$500
$900
$550
$990
$675
$1,215
$0
$100
      Tier 2: 2nd Nearby and Greater
$400
$600
$440
$660
$540
$810
Tennessee, LA 500 (NM)
      Tier 1 - 1st Nearby
$150
$150
$165
$165
$203
$203
$0
$50
      Tier 2: 2nd Nearby and Greater
$175
$125
$193
$138
$236
$169
Trunkline, LA (NU)
      Tier 1 - 1st Nearby
$50
$50
$55
$55
$68
$68
$0
$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
$250
$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
$250
$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
$300
$500
$330
$550
$405
$675
$0
$100
      Tier 2: 2nd Nearby and Greater
$100
$200
$110
$220
$135
$270
Sonat (SZ)
      Tier 1 - 1st Nearby
$125
$125
$138
$138
$169
$169
$0
$100
      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
Transco Zone 4 (TR)
      Tier 1 - 1st Nearby
$125
$125
$138
$138
$169
$169
$0
$100
      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


NYMEX Division Outright (Scan) Margin Rates For Existing Natural Gas Index Swaps
 
 
Clearing Member / Maintenance Margin
Member Customer Initial Margin
Non-Member Customer Initial Margin
Natural Gas Index Financial
New
Old
New
Old
New
Old
Henry Hub Index Swap (IN)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,000
$2,200
$3,300
$2,700
$4,050
      Tier 2: Greater than 2nd Nearby
$50
$50
$55
$55
$68
$68
Chicago City Gate Index Swap (IS)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,000
$2,200
$3,300
$2,700
$4,050
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
El Paso/Permian Index Swap (IL)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,000
$2,200
$3,300
$2,700
$4,050
      Tier 2: Greater than 2nd Nearby
$200
$200
$220
$220
$270
$270
Houston Ship Channel Index Swap (IP)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,500
$2,200
$3,850
$2,700
$4,725
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
Panhandle Index Swap (IV)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,500
$2,200
$3,850
$2,700
$4,725
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
Waha Index Swap (IY)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,500
$2,200
$3,850
$2,700
$4,725
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
Dominion Index Swap (IH)
      Tier 1 - 1st - 2nd Nearby Month
$1,500
$1,000
$1,650
$1,100
$2,025
$1,350
      Tier 2: Greater than 2nd Nearby
$100
$100
$110
$110
$135
$135
PG&E City Gate Index Swap (IK)
      Tier 1 - 1st - 2nd Nearby Month
$1,500
$2,800
$1,650
$3,080
$2,025
$3,780
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
Rockies Index Swap (IR)
      Tier 1 - 1st - 2nd Nearby Month
$2,500
$3,200
$2,750
$3,520
$3,375
$4,320
      Tier 2: Greater than 2nd Nearby
$375
$300
$413
$330
$506
$405
SoCal Index Swap (IF)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,000
$2,200
$3,300
$2,700
$4,050
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
San Juan Index Swap (IJ)
      Tier 1 - 1st - 2nd Nearby Month
$1,800
$1,800
$1,980
$1,980
$2,430
$2,430
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
Sumas Index Swap (IU)
      Tier 1 - 1st - 2nd Nearby Month
$1,500
$2,600
$1,650
$2,860
$2,025
$3,510
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
TETCO M-3 Index Swap (IX)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,000
$2,200
$3,300
$2,700
$4,050
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169
Transco Zone 6 Index Swap (IT)
      Tier 1 - 1st - 2nd Nearby Month
$2,000
$3,000
$2,200
$3,300
$2,700
$4,050
      Tier 2: Greater than 2nd Nearby
$125
$125
$138
$138
$169
$169

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