New York Mercantile Exchange To Increase Margins On Light Sweet Crude Oil Futures, Calendar Swap Futures, And E-miNY Futures Contracts

The New York Mercantile Exchange, Inc., announced that it will increase the margins on its light, sweet crude oil; light, sweet crude oil calendar swap; and light, sweet crude oil e– miNY(sm) futures contracts at the close of business tomorrow.

The margins on the December 2004 through March 2005 light, sweet crude oil futures and calendar swap futures contracts will increase to $3,000 from $2,500 for clearing members, to $3,300 from $2,750 for members, and to $4,050 from $3,375 for customers.

Margins on all other months are unchanged. Margins on the e– miNY(sm) crude oil futures contracts will increase to $1,500 from $1,250 for clearing members, to $1,650 from $1,375 for members, and to $2,025 from $1,688 for customers.