NYMEX Division Outright (Scan)  Margins New York Harbor Gasoline Blendstock (RBOB) Futures Contract (RB), RBOB Gasoline – Financial Contract (RT) and RBOB Calendar Swap (RL)

NYMEX Division Outright (Scan) Margins on NYMEX miNY™Gasoline (QU)

	Clearing Member / Maintenance Margin		Member Customer Initial Margin		Non-Member Customer Initial Margin
	New	Old	New	Old	New	Old
1	$3,375	$3,250	$3,713	$3,575	$4,556	$4,388
2	$3,125	$3,000	$3,438	$3,300	$4,219	$4,050
3	$3,000	$2,500	$3,300	$2,750	$4,050	$3,375
4	$2,875	$2,375	$3,163	$2,613	$3,881	$3,206

Current systems calculate the margin requirement for spread positions by first determining the "Scan Risk" and then multiplying the number of spreads by a rate set by the Exchange. Scan Risk is determined by netting the outright margin required for each leg of a spread. Spreading between differently margined contracts results in a higher spread margin than between equally margined contracts. Below is provided an example where the legs of a spread are margined differently

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 $ 700 starting on Tuesday, April 1, 2008.

One Long Tier 1 RB	(1 * $6,750)	=	$6,750
One Short Tier 2 RB	(1 * $6,250)	=	$6,250
Net Scan Risk	($6,750-$6,250)	=	$500
Spread Rate	(1* $ 200)	= +	$200
Total Requirement		=	$700
Summary
Clearing Member (Maintenance Margin):			$700
Member Customer (Initial Margin):			$770
Non-Member Customer (Initial Margin):			$945

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.