Notice to Members
Notice No. 497
11/07/2007
Margin Rate Changes for New York Harbor Gasoline Blendstock Futures (RBOB) Contract, RBOB Gasoline – Financial Contract, RBOB Calendar Swap, and NYMEX RBOB miNY Gasoline Contract
Effective Date: Thursday, November 8, 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: Tiers 1 and 2


NYMEX Division Outright (Scan)  Margins 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 $5,500 $5,000 $6,050 $5,500 $7,425 $6,750
2 $5,000 $4,750 $5,500 $5,225 $6,750 $6,413
3 $4,250 $4,000 $4,675 $4,400 $5,738 $5,400
4 $4,000 $3,750 $4,400 $4,125 $5,400 $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 $2,750 $2,500 $3,025 $2,750 $3,713 $3,375
2 $2,500 $2,375 $2,750 $2,613 $3,375 $3,206
3 $2,125 $2,000 $2,338 $2,200 $2,869 $2,700
4 $2,000 $1,875 $2,200 $2,063 $2,700 $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 $ 750 starting on Thursday, November 8, 2007.

One Long Tier 1 RB (1 * $5,500) = $5,500
One Short Tier 2 RB (1 * $5,000) = $5,000
Net Scan Risk ($5,500-$5,000) = $500
Spread Rate (1* $ 250) = + $250
Total Requirement   = $750
       
       
       
Summary      
Clearing Member (Maintenance Margin):     $750
Member Customer (Initial Margin):     $825
Non-Member Customer (Initial Margin):     $1,013

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