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Nymex To Decrease Margins For Natural Gas Futures, Swap Futures, And e-miNY<SUP>sm</SUP> Futures Contracts

Date 16/02/2005

The New York Mercantile Exchange, Inc., announced today that it will decrease the margins on its natural gas futures, Henry Hub swap futures, and e-miNYsm futures contracts at the close of business tomorrow.

The margins on the first and second months of the natural gas futures contract will decrease to $5,500 from $7,000 for clearing members, to $6,050 from $7,700 for members, and to $7,425 from $9,450 for customers.

Margins on the third month will decrease to $4,750 from $6,000 for clearing members, to $5,225 from $6,600 for members, and to $6,413 from $8,100 for customers.

Margins on the fourth month will decrease to $4,500 from $5,500 for clearing members, to $4,950 from $6,050 for members, and to $6,075 from $7,425 for customers.

Margins on the fifth through 11th months will decrease to $4,250 from $5,000 for clearing members, to $4,675 from $5,500 for members, and to $5,738 from $6,750 for customers.

Margins on the 12th through 15th months will decrease to $4,000 from $4,500 for clearing members, to $4,400 from $4,950 for members, and to $5,400 from $6,075 for customers.

Margins on the 16th through 27th months will decrease to $2,000 from $2,500 for clearing members, to $2,200 from $2,750 for members, and to $2,700 from $3,375 for customers.

Margins on the 28th through 48th months will decrease to $1,500 from $2,000 for clearing members, to $1,650 from $2,200 for members, and to $2,025 from $2,700 for customers.

Margins on all other months will decrease to $1,250 from $1,750 for clearing members, to $1,375 from $1,925 for members, and to $1,688 from $2,363 for customers.

The margins on the first and second months of the Henry Hub swap futures contract will decrease to $1,375 from $1,750 for clearing members, to $1,513 from $1,925 for members, and to $1,856 from $2,363 for customers.

Margins on the third month will decrease to $1,188 from $1,500 for clearing members, to $1,306 from $1,650 for members, and to $1,603 from $2,025 for customers.

Margins on the fourth month will decrease to $1,125 from $1,375 for clearing members, to $1,238 from $1,513 for members, and to $1,519 from $1,856 for customers.

Margins on the fifth through 11th months will decrease to $1,063 from $1,250 for clearing members, to $1,169 from $1,375 for members, and to $1,434 from $1,688 for customers.

Margins on the 12th through 15th months will decrease to $1,000 from $1,125 for clearing members, to $1,100 from $1,238 for members, and to $1,350 from $1,519 for customers.

Margins on the 16th through 27th months will decrease to $500 from $625 for clearing members, to $550 from $688 for members, and to $675 from $844 for customers.

Margins on the 28th through 48th months will decrease to $375 from $500 for clearing members, to $413 from $550 for members, and to $506 from $675 for customers.

Margins on the all other months will decrease to $313 from $438 for clearing members, to $344 from $481 for members, and to $422 from $591 for customers.

Margins on all months the e-miNYsm natural gas futures contract will decrease to $2,750 from $3,500 for clearing members, to $3,025 from $3,850 for members, and to $3,713 from $4,725 for customers.