05/21/2007
Futures Contract: NY Harbor Gasoline Blendstock Contract, RBOB Gasoline – Financial Contract, RBOB Calendar Swap and NYMEX RBOB miNY™ Gasoline Contract
Contract Months: Tiers 1 and 2
NYMEX Division Outright (Scan) Margins on New York Harbor Gasoline Blendstock
(RBOB) Futures Contract (RB), RBOB Gasoline - Financial Contract (RT) and
RBOB Calendar Swap (RL)
| Tiers |
Clearing Member / Maintenance
Margin |
Member Customer Initial Margin |
Non-Member Customer Initial Margin |
|||
New |
Old |
New |
Old |
New |
Old |
|
1 |
$7,000 |
$6,000 |
$7,700 |
$6,600 |
$9,450 |
$8,100 |
2 |
$5,750 |
$5,000 |
$6,325 |
$5,500 |
$7,763 |
$6,750 |
3 |
$3,750 |
$3,750 |
$4,125 |
$4,125 |
$5,063 |
$5,063 |
NYMEX Division Outright (Scan) Margins on NYMEX miNY™ Gasoline (QU)
| Tiers |
Clearing Member / Maintenance
Margin |
Member Customer Initial Margin |
Non-Member Customer Initial Margin |
|||
New |
Old |
New |
Old |
New |
Old |
|
1 |
$3,500 |
$3,000 |
$3,850 |
$3,300 |
$4,725 |
$4,050 |
2 |
$2,875 |
$2,500 |
$3,163 |
$2,750 |
$3,881 |
$3,375 |
3 |
$1,875 |
$1,875 |
$2,063 |
$2,063 |
$2,531 |
$2,531 |
Scan Risk Example at Clearing Member Rates
A spread consisting of one RB leg in Tier 1 and another in Tier 2 will have its requirement (at the clearing member rates) calculated at $ 1,500 starting on Tuesday, May 22, 2007.
| One Long Tier 1 RB | (1 * $6,000) | = | $7,000 |
| One Short Tier 3 RB | (1 * $5,750) | = | $5,750 |
| Net Scan Risk | ($6,000-$5,750) | = | $1,250 |
| Spread Rate | (1* $ 250) | = + | $250 |
| Total Requirement | = | $1,500 | |
| Summary | |||
| Clearing Member (Maintenance Margin): | $1,500 | ||
| Member Customer (Initial Margin): | $1,650 | ||
| Non-Member Customer (Initial Margin): | $2,025 |
This notice supersedes all previous notices regarding outright margins for the NY Harbor Gasoline Blendstock Contract, RBOB Gasoline – Financial Contract, RBOB Calendar Swap and NYMEX RBOB miNY™ Gasoline Contracts.