Notice to Members
Notice No. 281
05/29/2008
Margin Rate and Tier Changes for Brent Crude Oil Related Products
Beginning on the close of business day of May 30, 2008, the margin rate of Brent Crude Oil – Financial Contract (BB) will be reported under the Business Function Combined Commodity (BFCC) Code of Brent Crude Oil - Last Day Contract (BZ). Any margin rates, tier structures, and spread credits related to BZ will be applied to BB


BB/BZ Intra-Commodity Spread Tiers
 
Tiers
New
Old
1 1st Nearby 1st Nearby
2 2nd - 18th Nearby 2nd - 5th Nearby
3 19th - 42nd Nearby 6th - 12th  Nearby
4 Greater than 42nd Nearby Greater than 12th Nearby


CY Intra-Commodity Spread Tiers
 
Tiers
New
Old
1 1st Nearby All months
2 2nd - 18th Nearby N/A
3 19th - 42nd Nearby N/A
4 Greater than 42nd Nearby N/A


BB/BZ Intra-Commodity Spread Margins
 
 
Clearing Member / Maintenance Margin
Member Customer Initial Margin
Non-Member Customer Initial Margin
 
New
Old
New
Old
New
Old
1 $450 $400 $495 $440 $608 $540
2 $400 $250 $440 $275 $540 $338
3 $300 $150 $330 $165 $405 $203
4 $300 $100 $330 $110 $405 $135


CY Intra-Commodity Spread Margins
 
 
Clearing Member / Maintenance Margin
Member Customer Initial Margin
Non-Member Customer Initial Margin
 
New
Old
New
Old
New
Old
1 $450 $400 $495 $440 $608 $540
2 $400 N/A $440 N/A $540 N/A
3 $300 N/A $330 N/A $405 N/A
4 $300 N/A $330 N/A $405 N/A
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com