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Nymex To Increase Margins On Natural Gas Futures, Swap Futures, And e-miNY<SUP>sm</SUP> Futures Contracrs

Date 07/10/2004

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 tomorrow.

The margins on the first month of the standard–sized futures contract will increase to $6,500 from $6,000 for clearing members; to $7,150 from $6,600 for members; and to $8,775 from $8,100 for customers.

The margins on the second through fourth months will increase to $6,000 from $5,500 for clearing members; to $6,600 from $6,050 for members; and to $8,100 from $7,425 for customers.

Margins on the fifth month will increase to $5,500 from $5,250 for clearing members; to $6,050 from $5,775 for members; and to $7,425 from $7,088 for customers.

Margins on the 14th month will increase to $3,000 from $1,500 for clearing members; to $3,300 from $1,650 for members; and to $4,050 from $2,025 for customers.

Margins on all other months are unchanged.

Margins on the first month of the Henry Hub swap futures contract will increase to $1,625 from $1,500 for clearing members; to $1,788 from $1,650 for members; and to $2,194 from $2,025 for customers.

Margins on the second through fourth months of the Henry Hub swap futures contract will increase to $1,500 from $1,375 for clearing members; to $1,650 from $1,513 for members; and to $2,025 from $1,856 for customers.

Margins on the fifth month will increase to $1,375 from $1,313 for clearing members; to $1,513 from $1,444 for members; and to $1,856 from $1,772 for customers.

Margins on the 14th month will increase to $750 from $375 for clearing members; to $825 from $413 for members; and to $1,013 from $506 for customers.

Margins on all other months are unchanged.

Margins on the first month of the e–miNYsm natural gas futures contract will increase to $3,250 from $3,000 for clearing members; to $3,575 from $3,300 for members; and to $4,388 from $4,050 for customers.

Margins on the second month will increase to $3,000 from $2,750 for clearing members; to $3,300 from $3,025 for members; and to $4,050 from $3,713 for customers.