Notice to Members

Notice No. 59
02/01/2007

Outright (SCAN) Margin Rates Change for Financially Settled Electricity Contracts

Effective Date: Friday, February 2, 2007 (close of business)

Futures Contract:

Cinergy Hub LMP – On Peak (EM), Michigan Hub LMP – Peak (HM), PJM Western Hub LMP On Peak Monthly (JM), PJM Western Hub LMP Off Peak Monthly (JP), NYISO Zone A LBMP – Peak (KA), NYISO Zone A LBMP – Off Peak (KB), NYISO Zone G LBMP – Peak (KG), NYISO Zone G LBMP – Off Peak (KH), NYISO Zone J LBMP – Peak (KJ), NYISO Zone J LBMP – Off Peak (KK), New England Internal Hub – Peak (NI), New England Internal Hub – Off Peak (KI), Northern Illinois Hub – Peak (UM), AEP-Dayton Hub – Peak (VM), AEP-Dayton Hub – Off Peak (VP), and ERCOT Seller’s Choice Peak Swap (Platts Megawatt Daily) (VT)

Contract Months: All Months

NYMEX Division Outright (Scan) Margins on Cinergy Hub LMP – Peak (EM)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$6,500	$5,000	$7,150	$5,500	$8,775	$6,750
Tier 2: 2nd - 6th Nearby	$5,500	$5,000	$6,050	$5,500	$7,425	$6,750
Tier 3: 7th - 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050
Tier 4: Greater than 11th Nearby	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375

NYMEX Division Outright (Scan) Margins on Michigan Hub LMP – On Peak (HM)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
HM	$6,500	$5,000	$7,150	$5,500	$8,775	$6,750

NYMEX Division Outright (Scan) Margins on PJM Western Hub LMP On Peak Monthly (JM)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
JM (Tier 1 - 1st Nearby)	$10,000	$5,500	$11,000	$6,050	$13,500	$7,425
JM (Tier 2 - 2nd - 4th Nearby)	$7,500	$5,500	$8,250	$6,050	$10,125	$7,425
JM (Tier 3 - 5th - 6th Nearby)	$6,000	$3,500	$6,600	$3,850	$8,100	$4,725
JM (Tier 4 - 7th - 8th Nearby)	$3,500	$3,500	$3,850	$3,850	$4,725	$4,725
JM (Tier 5 - 9th - 10th Nearby)	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375
JM (Tier 6 - 11th - 12th Nearby)	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375
JM (Tier 7 - 13th - 16th Nearby)	$3,500	$3,500	$3,850	$3,850	$4,725	$4,725
JM (Tier 8 - Greater than 16th Nearby)	$3,500	$3,500	$3,850	$3,850	$4,725	$4,725

NYMEX Division Outright (Scan) Margins on PJM Western Hub LMP Off Peak Monthly (JP)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$4,000	$3,500	$4,400	$3,850	$5,400	$4,725
Tier 2: 2nd - 6th Nearby	$5,000	$5,000	$5,500	$5,500	$6,750	$6,750
Tier 3: 7th - 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050
Tier 4: Greater than 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050

NYMEX Division Outright (Scan) Margins on NYISO Zone A – Peak (KA)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$3,500	$2,500	$3,850	$2,750	$4,725	$3,375
Tier 2: 2nd - 6th Nearby	$3,000	$2,500	$3,300	$2,750	$4,050	$3,375
Tier 3: 7th - 11th Nearby	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375
Tier 4: Greater than 11th Nearby	$1,500	$1,500	$1,650	$1,650	$2,025	$2,025

NYMEX Division Outright (Scan) Margins on NYISO Zone A – Off Peak (KB)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$6,000	$3,000	$6,600	$3,300	$8,100	$4,050
Tier 2: 2nd - 6th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050
Tier 3: 7th - 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050
Tier 4: Greater than 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050

NYMEX Division Outright (Scan) Margins on NYISO Zone G – Peak (KG)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$3,500	$2,500	$3,850	$2,750	$4,725	$3,375
Tier 2: 2nd - 6th Nearby	$3,000	$2,500	$3,300	$2,750	$4,050	$3,375
Tier 3: 7th - 11th Nearby	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375
Tier 4: Greater than 11th Nearby	$1,500	$1,500	$1,650	$1,650	$2,025	$2,025

NYMEX Division Outright (Scan) Margins on NYISO Zone G – Off Peak (KH)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$6,000	$3,000	$6,600	$3,300	$8,100	$4,050
Tier 2: 2nd - 6th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050
Tier 3: 7th - 11th Nearby	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375
Tier 4: Greater than 11th Nearby	$2,000	$2,000	$2,200	$2,200	$2,700	$2,700

NYMEX Division Outright (Scan) Margins on NYISO Zone J – Peak (KJ)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$3,500	$2,500	$3,850	$2,750	$4,725	$3,375
Tier 2: 2nd - 6th Nearby	$3,000	$2,500	$3,300	$2,750	$4,050	$3,375
Tier 3: 7th - 11th Nearby	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375
Tier 4: Greater than 11th Nearby	$2,000	$2,000	$2,200	$2,200	$2,700	$2,700

NYMEX Division Outright (Scan) Margins on NYISO Zone J – Off Peak (KK)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$6,000	$5,000	$6,600	$5,500	$8,100	$6,750
Tier 2: 2nd - 6th Nearby	$5,000	$5,000	$5,500	$5,500	$6,750	$6,750
Tier 3: 7th - 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050
Tier 4: Greater than 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050

NYMEX Division Outright (Scan) Margins on ISO New England Internal Hub – Peak (NI)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$9,500	$6,000	$10,450	$6,600	$12,825	$8,100
Tier 2: 2nd - 6th Nearby	$7,500	$4,000	$8,250	$4,400	$10,125	$5,400
Tier 3: 7th - 11th Nearby	$3,500	$3,500	$3,850	$3,850	$4,725	$4,725
Tier 4: Greater than 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050

NYMEX Division Outright (Scan) Margins on ISO New England Internal Hub – Off Peak (KI)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$6,000	$4,000	$6,600	$4,400	$8,100	$5,400
Tier 2: 2nd - 6th Nearby	$4,000	$4,000	$4,400	$4,400	$5,400	$5,400
Tier 3: 7th - 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050
Tier 4: Greater than 11th Nearby	$3,000	$3,000	$3,300	$3,300	$4,050	$4,050

NYMEX Division Outright (Scan) Margins on Northern Illinois Hub – Peak (UM)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$9,000	$5,000	$9,900	$5,500	$12,150	$6,750
Tier 2: 2nd - 6th Nearby	$7,000	$5,000	$7,700	$5,500	$9,450	$6,750
Tier 3: 7th - 11th Nearby	$6,000	$3,000	$6,600	$3,300	$8,100	$4,050
Tier 4: Greater than 11th Nearby	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375

NYMEX Division Outright (Scan) Margins on AEP-Dayton Hub – Peak (VM)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$9,000	$5,000	$9,900	$5,500	$12,150	$6,750
Tier 2: 2nd - 6th Nearby	$7,000	$5,000	$7,700	$5,500	$9,450	$6,750
Tier 3: 7th - 11th Nearby	$6,000	$3,000	$6,600	$3,300	$8,100	$4,050
Tier 4: Greater than 11th Nearby	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375

NYMEX Division Outright (Scan) Margins on AEP-Dayton Hub – Off Peak (VP)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
Tier 1: 1st Nearby	$3,500	$3,000	$3,850	$3,300	$4,725	$4,050
Tier 2: 2nd - 6th Nearby	$2,500	$2,500	$2,750	$2,750	$3,375	$3,375
Tier 3: 7th - 11th Nearby	$2,000	$2,000	$2,200	$2,200	$2,700	$2,700
Tier 4: Greater than 11th Nearby	$2,500	$1,500	$2,750	$1,650	$3,375	$2,025

NYMEX Division Outright (Scan) Margins on ERCOT Seller’s Choice Peak Swap (Platts Megawatt Daily) (VT)

Tiers	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
VT	$6,000	$3,500	$6,600	$3,850	$8,100	$4,725

This notice supersedes all previous notices regarding margins rates for the Electricity futures contracts listed above.

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