Notice to Members

Notice No. 45
01/24/2007

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

Effective Date: Thursday, January 25, 2007 (close of business)

Futures Contract: PJM Western Hub LMP On Peak Monthly (JM)

Contract Months: Tier 2 Only

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

Contract	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	*New*	Old	*New*	Old	*New*	Old
JM (Tier 1 - 1st Nearby)	$5,500	$5,500	$6,050	$6,050	$7,425	$7,425
JM (Tier 2 - 2nd - 4th Nearby)	$5,500	$4,500	$6,050	$4,950	$7,425	$6,075
JM (Tier 3 - 5th - 6th Nearby)	$3,500	$3,500	$3,850	$3,850	$4,725	$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

This notice supersedes all previous notices regarding margin rates for the Electricity Futures contracts listed above.

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