New York Mercantile Exchange To Increase Margins On Heating Oil Futures And Calendar Swap Futures

The New York Mercantile Exchange, Inc., announced that it will increase the margins on its heating oil futures and New York harbor heating oil calendar swap futures contracts at the close of business tomorrow.

The margins on the first month of the heating oil futures contact will increase to $3,500 for clearing members, $3,850 for members and $4,725 for customers. Margins on the second through sixth months will increase to $3,250 for clearing members, $3,575 for members, and $4,388 for customers; and margins on the seventh through 11th months will increase to $3,000 for clearing members, $3,300 for members, and $4,050 for customers. Each of these margins is being increased from the current margin of $2,750 for clearing members, $3,025 for members, and $3,713 for customers, which will remain the margins for all other months.

Margins on inter-month spreads involving the first month of heating oil futures and New York harbor heating oil calendar swap futures will decrease to $250 from $400 for clearing members, to $275 from $440 for members, and to $338 from $540 for customers.

Margins on spreads involving the second through sixth months will decrease to $150 from $250 for clearing members, to $165 from $275 for members, and to $203 from $338 for customers.

Margins on spreads involving the 12th month will decrease to $100 from $150 for clearing members, to $110 from $165 for members, and to $135 from $203 for customers.

Margins on all other months are unchanged.