New York Mercantile Exchange: Unilateral Margin Credit For Brent Crude Oil Futures Against IPE Brent Crude Oil Futures Spreads

The New York Mercantile Exchange, Inc., will offer a unilateral margin credit to market participants who hold positions on the NYMEX Brent crude oil futures contract against the International Petroleum Exchange Brent crude oil futures contract beginning at the close of business today.

The credit, which is 90% of the outright margin, will be granted in the ratio of one NYMEX Brent crude oil futures contract to one IPE Brent crude oil futures contract. Like other unilateral margin credits granted by the Exchange, interested clearing members will be required to submit a manual credit form listing the number of contracts that are part of the New York Mercantile Exchange/IPE Brent crude oil spread, with a minimum of 50 spreads.

Net margins are $350 for clearing members; $385 for members; and $473 for customers.