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Nymex To Decrease Margins For Sumas Natural Gas Basis And Gasoline Up-Down Swap Futures

Date 02/08/2004

The New York Mercantile Exchange, Inc., announced today that it will decrease the margins on its Sumas natural gas basis and unleaded 87 gasoline up–down spread calendar swap futures contracts at the close of business tomorrow.

Margins on the spot month of the Sumas natural gas basis swap futures contract will decrease to $250 from $325 for clearing members, to $275 from $358 for members, and to $338 from $439 for customers. Margins for the second months and beyond will decrease to $225 from $300 for clearing members, to $248 from $330 for members, and to $304 from $405 for customers.

Margins for all months of the unleaded 87 gasoline up–down spread calendar swap futures contract will decrease to $600 from $1,920 for clearing members, to $660 from $2,112 for members, and to $810 from $2,592 for customers.