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Nymex To Adjust Margin Rates For Natural Gas Futures, Henry Hub Swaps, e-miNY Natural Gas Futures, And Natural Gas Basis Swaps

Date 28/08/2002

The New York Mercantile Exchange, Inc., will change the margins on the first six months of its natural gas futures and Henry Hub natural gas swaps contracts, and on all months of its e-miNY natural gas futures and natural gas basis swaps contracts as of the close of business tomorrow.

The margins on the first six months of natural gas futures will increase to $3,500 from $3,000 for clearing members; to $3,850 from $3,300 for members; and to $4,725 from $4,050 for customers. All other months will remain unchanged at $2,500 for clearing members; $2,750 for members; and $3,375 for customers.

The margins on the first six months of Henry Hub natural gas swaps will increase to $875 from $750 for clearing members; to $963 from $825 for members; and to $1,181 from $1,013 for customers. All other months will remain unchanged at $625 for clearing members; $688 for members; and $844 for customers.

e-miNY natural gas futures margins will increase to $1,400 from $1,200 for clearing members; to $1,540 from $1,320 for members; and to $1,890 from $1,620 for customers.

The margins on the Alberta natural gas basis swap contract will increase to $510 from $225 for clearing members; to $561 from $248 for members; and to $689 from $304 for customers.

The margins on the Chicago natural gas basis swap contract will decrease to $120 from $200 for clearing members; to $132 from $220 for members; to $162 from $270 for customers.

The margins for the Henry Hub natural gas basis swap contract will decrease to $90 from $150 for clearing members; to $99 from $165 for members; and to $122 from $203 for customers.

The margins for the Houston Ship Channel natural gas basis swap contract will decrease to $90 from $200 for clearing members; to $99 from $220 for members; and to $122 from $270 for customers.

The margins for the San Juan natural gas basis swap contract will increase to $510 from $200 for clearing members; to $561 from $220 for members; and to $689 from $270 for customers.

The margins for the Transco Zone 6 natural gas basis swap contract will decrease to $90 from $375 for clearing members; to $99 from $413 for members; and to $122 from $507 for customers.

The margins for the Northwest Pipeline, Rockies natural gas basis swap contract will increase to $930 from $250 for clearing members, to $1,023 from $275 for members; and to $1,256 from $338 for customers.

The margins for the Panhandle natural gas basis swap contract will increase to $210 from $200 for clearing members; to $231 from $220 for members; and to $284 from $270 for customers.

The margins for the Southern California natural gas basis swap contract remains unchanged at $300 for clearing members; $330 for members; and $405 for customers.