The New York Mercantile Exchange, Inc. today announced margin changes for its natural gas basis and index swap futures contracts, effective at the close of business on November 5.
Margins for the first month of the San Juan and Sumas basis swaps futures contracts will increase to $750 from $500 for clearing members, to $825 from $550 for members, and to $1,013 from $675 for customers. Margins for all other months will remain the same.
The margins for the first month of the Northwest Pipeline, Rockies basis swap futures contract will increase to $2,000 from $1,500 for clearing members, to $2,200 from $1,650 for members, and to $2,700 from $2,025 for customers. The margins for all other months will not change.
Margins for the first month of the Transco Zone 6 basis swap futures contract will increase to $300 from $200 for clearing members, to $330 from $220 for members, and to $405 from $270 for customers. The margins for the second to fifth months will increase to $500 from $300 for clearing members, to $550 from $330 for members, and to $675 from $405 for customers. Margins for the sixth to tenth months will increase to $1,000 from $500 for clearing members, to $1,100 from $550 for members, and to $1,350 from $675 for customers. The margins for all other months will remain the same.
Margins for the first month of the El Paso Permian natural gas index swap futures contract will increase to $2,000 from $1,500 for clearing members, to $2,200 from $1,650 for members, and to $2,700 from $2,025 for customers. The margins for the second to fifth months will increase to $500 from $200 for clearing members, to $550 from $220 for members, and to $675 from $270 for customers. Margins for all other months will not change.
