Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Nymex To Increase Margin Rates On PJM Monthly Electricity Futures

Date 17/12/2004

The New York Mercantile Exchange, Inc., announced today that it will increase the margins on its financially settled PJM monthly electricity futures contract at the close of business on Monday.

Margins on the first and second months will increase to $3,500 from $2,500 for clearing members, to $3,850 from $2,750 for members, and to $4,725 from $3,375 for customers.

Margins on the third month will increase to $3,500 from $2,000 for clearing members, to $3,850 from $2,200 for members, and to $4,725 from $2,700 for customers.

Margins on the fourth and fifth months will increase to $3,500 from $1,000 for clearing members, to $3,850 from $1,100 for members, and to $4,725 from $1,350 for customers.

Margins on the sixth month will increase to $2,500 from $1,000 for clearing members, to $2,750 from $1,100 for members, and to $3,375 from $1,350 for customers.

Margins on the seventh through 22nd months will increase to $2,000 from $1,000 for clearing members, to $2,200 from $1,100 for members, and to $2,700 from $1,350 for customers.

Margins on the 23rd through 25th months will increase to $1,500 from $1,000 for clearing members, to $1,650 from $1,100 for members, and to $2,025 from $1,350 for customers.

Margins on all other months are unchanged.