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New York Mercantile Exchange To Change Margins For Gasoline, Heating Oil And Related Futures Contracts

Date 21/09/2005

The New York Mercantile Exchange, Inc., today announced margin increases for its gasoline and New York Harbor gasoline calendar swap futures contracts and its heating oil and New York Harbor heating oil calendar swap futures contracts, effective at the close of business tomorrow.

The October and November 2005 gasoline futures and New York Harbor gasoline calendar swap futures contracts will increase to $10,000 from $8,000 for clearing members, to $11,000 from $8,800 for members, and to $13,500 from $10,800 for customers.

The gasoline futures and New York Harbor gasoline calendar swap futures contracts for all other months will increase to $8,000 from $6,000 for clearing members, to $8,800 from $6,600 for members, and to $10,800 from $8,100 for customers.

Margins on the first month of the heating oil and New York Harbor heating oil swap futures contract will be increased to $8,000 from $6,000 for clearing members, to $8,800 from $6,600 for members, and to $10,800 from $8,100 for customers. Margins on the second to seventh months will be increased to $7,000 from $5,250 for clearing members, to $7,700 from $5,775 for members, and to $9,450 from $7,088 for customers. Margins on the eighth to 10th months will be increased to $6,000 from $4,750 for clearing members, to $6,600 from $5,225 for members, and to $8,100 from $6,413 for customers. Margins on all other months will be increased to $5,500 from $4,750 for clearing members, to $6,050 from $4,675 for members, and to $7,425 from $5,738 for customers.