04/10/2007
Effective Date: Wednesday, April 11, 2007 (close of business )
Futures Contract: NY Harbor Gasoline Blendstock Contract, RBOB Gasoline – Financial Contract, RBOB Calendar Swap and NYMEX RBOB miNY Gasoline Contract
Contract Months : Tier 1
Note: The revised margins are in bold.
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) |
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Tiers |
Clearing Member / Maintenance Margin |
Member Customer Initial Margin |
Non-Member Customer Initial Margin |
|||
|
New |
Old |
New |
Old |
New |
Old |
1 |
$5,250 |
$4,750 |
$5,775 |
$5,225 |
$7,089 |
$6,413 |
2 |
$ 4,500 |
$4,500 |
$ 4,950 |
$4,950 |
$6,075 |
$6,075 |
3 |
$3,750 |
$3,750 |
$4,125 |
$4,125 |
$5,063 |
$5,063 |
NYMEX Division Outright (Scan) Margins on NYMEX miNY ™Gasoline (QU) |
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Contract |
Clearing Member / Maintenance Margin |
Member Customer Initial Margin |
Non-Member Customer Initial Margin |
|||
|
New |
Old |
New |
Old |
New |
Old |
1 |
$2,625 |
$2,375 |
$2,888 |
$2,613 |
$3,544 |
$3,206 |
2 |
$2,250 |
$2,250 |
$2,475 |
$2,475 |
$3,038 |
$3,038 |
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 3 will have its requirement (at the clearing member rates) calculated at $ 1,750 starting on Wednesday, April 11, 2007.
One Long Tier 1 RB (1 * $5,250) = $ 5,250
One Short Tier 3 RB (1 * $3,750) = $ 3,750
Net Scan Risk ($5,250-$3,750) = $ 1,500
Spread Rate (1* $ 250) = + $ 250
Total Requirement = $ 1,750
Summary
Clearing Member (Maintenance Margin): $ 1,750
Member Customer (Initial Margin): $ 1,925
Non-Member Customer (Initial Margin): $ 2,363
This notice supersedes all previous notices regarding outright margins for the NY Harbor Gasoline Blendstock (RBOB) Contract, RBOB Calendar Swap, RBOB Gasoline – Financial Contract and NYMEX miNY Gasoline Contract.