02/06/2008
Futures Contracts: MACI Index Futures (XC) and Backwardation-Contango Index Futures (XK)
Beginning on Sunday evening, February 10( for trade date Monday, February 11), the Exchange will list two financially settled Index futures contracts, MACI Index Futures (XC) and Backwardation-Contango Index Futures (XK), on the NYMEX Trading Floor, CME Globex® and NYMEX ClearPort® Clearing. The margin rate for XC will be reported under the Business Function Combined Commodity (BFCC) code CL, but with a scaling factor of 0.2 since its contract size is one fifth of that of crude oil futures contract. XK will be reported under its own BFCC code.
Please find the following table for the margin rates for XC and XK respectively.
NYMEX Division Outright (Scan) Margin on XC and XK| Commodities | Clearing Member / Maintenance Margin | Member Customer Initial Margin | Non-Member Initial Margin |
| New | New | New | |
| XC | 1100 | 1210 | 1485 |
| XK | 200 | 220 | 270 |
The Exchange will provide a 98% credit for the spread trade of each 30 MACI Index futures (XC) contracts against one strip of six months of the Exchange’s Crude Oil futures composing the MACI index futures.
Below is an example (at Clearing Member Rates):
Spread Credit for each 30 MACI Index Futures Contracts
| Contract - Lots | Margin Rate | Outright Margin | *Spread Credit* | Net Margin |
| XC - 30 | 1100 | 33000 | 32340 | 660 |
| CLJ8 - 1 | 4500 | 4500 | 4410 | 90 |
| CLK8 - 1 | 4500 | 4500 | 4410 | 90 |
| CLM8 - 1 | 4500 | 4500 | 4410 | 90 |
| CLN8 - 1 | 4500 | 4500 | 4410 | 90 |
| CLQ8 - 1 | 4500 | 4500 | 4410 | 90 |
| CLU8 - 1 | 4500 | 4500 | 4410 | 90 |