New York Mercantile Exchange Establishes Margins, Position Accountability Levels, Reporting Requirements For New N.G. Futures

The New York Mercantile Exchange, Inc., today announced the anticipated margins and position accountability and reporting levels for the four natural gas basis swap futures contracts that will be launched on the afternoon of July 17 for the July 18 trading session.

Margins for the Texas Eastern Transmission Co. East Louisiana and South Texas zones; Transcontinental Gas Pipeline Co. Zone 3; and Columbia Gulf Transmission onshore basis swap futures contracts will be $200 for clearing members, $220 for members, and $270 for customers.

Margin rates for intra-commodity spreads for the four contracts will be $25 for clearing members, $28 for members, and $34 for customers.

The position accountability levels for the new contracts will be 10,000 contracts for any single month or all months, with the exception of a 500-contract level for the expiring contract. Clearing members must identify to the Exchange customers with a position of 25 contracts or more.