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NYMEX Announces Margins For Middle East Sour Crude Oil Futures

Date 02/05/2000

The New York Mercantile Exchange has announced initial margins for the Middle East sour crude oil futures contract which will be launched on May 4.

The margins, which take effect at the close of business on May 5, will be $2,500 for clearing members; $2,750 for members; and $3,375 for customers.

The inter-month spread margin for the first month will be $400 for clearing members; $440 for members; and $540 for customers. Spread margins for the second through sixth months will be $250 for clearing members; $275 for members; and $337.50 for customers. For the seventh through twelfth months, the spread margins will be $150 for clearing members; $165 for members; and $202.50 for customers. For all other months, inter-month spread margins will be $100 for clearing members; $110 for members; and $135 for customers.

The inter-commodity spread margin for Middle East sour crude/light, sweet crude oil spreads will be $750 for clearing members; $825 for members; and $1,012.50 for customers.