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FTSE Mondo Visione Exchanges Index:

Nymex Sets Margins For OTC Products For May 31 Launch

Date 24/05/2002

The New York Mercantile Exchange, Inc., today announced the initial margins for the over-the-counter energy products it will launch on May 31.

They are:

  Clearing Member/ Member Customer Initial Margin Non-Member Customer Initial Margin
  Maintenance Margin    
NATURAL GAS      
Henry Hub Swap (First Month) (NN) $1,000 $1,100 $1,350
Henry Hub Swap (Second Month) (NN) $875 $963 $1,181
Henry Hub Swap (Third through sixth months) (NN) $750 $825 $1,013
Henry Hub Swap (Seventh month and beyond) (NN) $625 $688 $844
Alberta Gas Swap (NA) $225 $248 $304
Chicago Basis Swap (NB) $200 $220 $270
Henry Hub Basis Swap (HB) $150 $165 $203
Houston Ship Channel Basis Swap (NH) $200 $220 $270
San Juan Basis Swap (NJ) $200 $220 $270
Southern California Basis Swap (NS) $300 $330 $405
Transco Zone 6 Basis Swap (NZ) $375 $413 $507
Northwest Pipeline, Rockies Basis Swap (NR) $250 $275 $338
Panhandle Basis Swap (PH) $200 $220 $270
ELECTRICITY      
Palo Verde Electricity (KV) $2,000 $2,200 $2,700
Mid-Columbia Electricity (KM) $2,000 $2,200 $2,700
PJM Interconnection-West Electricity (QJ) $2,500 $2,750 $3,375
CRUDE OIL AND PETROLEUM PRODUCTS      
West Texas Intermediate Crude Oil Calendar Swap (CS) $2,000 $2,200 $2,700
Dubai Crude Oil Calendar Swap (DC) $2,000 $2,200 $2,700
Light Louisiana Sweet Crude Oil Futures (LS) $2,000 $2,200 $2,700
West Texas Sour Crude Oil Futures (TS) $2,000 $2,200 $2,700
West Texas Intermediate Midland Crude Oil (CM) $2,000 $2,200 $2,700
Mars Blend Crude Oil (MB) $2,000 $2,200 $2,700
New York Harbor Heating Oil Crack Spread Calendar Swap (HK) $1,400 $1,540 $1,890
New York Harbor Unleaded Gasoline Crack Spread Calendar Swap (UK) $1,400 $1,540 $1,890
U.S. Gulf Coast Unleaded 87 Octane Gasoline Crack Spread Calendar Swap (RU) $1,400 $1,540 $1,890
Gulf Coast No. 2 Heating Oil Crack Spread Calendar Swap (RD) $1,400 $1,540 $1,890
Unleaded 87 Octane Gasoline Up-Down Spread Calendar Swap (UU) $1,600 $1,760 $2,160
No. 2 Heating Oil Up-Down Spread Calendar Swap (UT) $260 $286 $351
 
The spot month assessments, effective on the last day for clearing submissions, will be:
 
NATURAL GAS      
Alberta Gas Swap $750    
Chicago Basis Swap $750    
Henry Hub Basis Swap $750    
Houston Ship Channel Basis Swap $750    
San Juan Basis Swap $750    
Southern California Basis Swap $750    
Transco Zone 6 Basis Swap $750    
Northwest Pipeline, Rockies Basis Swap $750    
Panhandle Basis Swap $750    
ELECTRICITY      
Palo Verde Electricity $3,500    
Mid-Columbia Electricity $3,500    
PJM Interconnection-West Electricity $3,500    
CRUDE OIL      
Light Louisiana Sweet Crude Oil Futures $3,000    
West Texas Sour Crude Oil Futures $3,000    
West Texas Intermediate Midland Crude Oil $3,000    
Mars Blend Crude Oil $3,000    
 
The intra-commodity spread margins will be:      
 
       
       
  Clearing Member/Maintenance Margin Member CustomerInitial Margin Non-MemberCustomerInitial Margin
 
 
 
 
NATURAL GAS      
Henry Hub Swap (First month) $125 $138 $152
Henry Hub Swap (Second through 12th Months) $63 $69 $93
Henry Hub Swap (13th Month and beyond) $25 $28 $38
Alberta Gas Swap $250 $275 $338
Chicago Basis Swap $250 $275 $338
Henry Hub Basis Swap $250 $275 $338
Houston Ship Channel Basis Swap $250 $275 $338
San Juan Basis Swap $250 $275 $338
Socal Basis Swap $250 $275 $338
Transco Zone 6 Basis Swap $250 $275 $338
Northwest Pipeline, Rockies Basis Swap $250 $275 $338
Panhandle Basis Swap $250 $275 $338
ELECTRICITY      
Palo Verde Electricity $2,000 $2,200 $2,700
Mid-Columbia Electricity $2,000 $2,200 $2,700
PJM Interconnection-West Electricity $2,500 $2,200 $2,700
CRUDE OIL AND PETROLEUM PRODUCTS      
West Texas Intermediate Crude Oil Calendar Swap $400 $440 $540
Dubai Crude Oil Calendar Swap $400 $440 $540
Light Louisiana Sweet Crude Oil Futures $400 $440 $540
West Texas Sour Crude Oil Futures $400 $440 $540
West Texas Intermediate Midland Crude Oil $400 $440 $540
Mars Blend Crude Oil $400 $440 $540
New York Harbor Heating Oil Crack Spread Calendar Swap $200 $220 $270
New York Harbor Unleaded Gasoline Crack Spread Calendar Swap $200 $220 $270
U.S. Gulf Coast Unleaded 87 Octane Gasoline Crack Spread Calendar Swap $200 $220 $270
U.S. Gulf Coast No. 2 Heating Oil Crack Spread Calendar Swap $200 $220 $270
Unleaded 87 Octane Gasoline Up-Down Spread Calendar Swap $200 $220 $270
No. 2 Heating Oil Up-Down Spread Calendar Swap $200 $220 $270