Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Nymex To Increase Margins For Natural Gas Futures, Swap Futures, And e-miNY(sm) Futures Contracts

Date 13/09/2004

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

The margins on the first two months of the standard–sized futures contract will increase to $4,000 from $3,500 for clearing members, to $4,400 from $3,850 for members, and to $5,400 from $4,725 for customers.

Margins on the third month will increase to $4,500 from $4,000 for clearing members, to $4,950 from $4,400 for members, and to $6,075 from $5,400 for customers.

Margins on the fourth through sixth months will be increased to $4,500 from $4,250 for clearing members, to $4,950 from $4,675 for members, and to $6,075 from $5,738 for customers.

Margins on all other months are unchanged.

Margins on the first two months of the Henry Hub swap futures contract will increase to $1,000 from $875 for clearing members, to $1,100 from $963 for members, and to $1,350 from $1,181 for customers.

Margins on the third month will increase to $1,125 from $1,000 for clearing members, to $1,238 from $1,100 for members, and to $1,519 from $1,350 for customers.

Margins on the fourth through sixth months will be increased to $1,125 from $1,063 for clearing members, to $1,238 from $1,169 for members, and to $1,519 from $1,434 for customers.

Margins on all other months are unchanged.

Margins on both months of the e–miNYsm natural gas futures contract will increase to $2,000 from $1,750 for clearing members, to $2,200 from $1,925 for members, and to $2,700 from $2,363 for customers.

Margins on intracommodity spreads involving the first month of the benchmark natural gas futures contract 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 intra–commodity spread margins between all other months of the contract will remain unchanged.

Margins on the intracommodity spreads involving the first month of the Henry Hub swap futures contract will increase to $250 from $125 for clearing members, to $275 from $138 for members, and to $338 from $169 for customers.

Intra–commodity spread margins between all other months will remain unchanged.