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NYMEX Announces Margin Changes For Natural Gas, Related Contracts

Date 27/07/2006

The New York Mercantile Exchange, Inc. announced today that it will change margins for its natural gas, Henry Hub swap, Henry Hub swing swap, and Henry Hub penultimate swap futures contracts, as well as its natural gas penultimate, natural gas last day, and NYMEX miNYTM natural gas futures contracts that trade on CME Globex®, beginning at the close of business on July 28.

Margins for the first month of the natural gas, natural gas penultimate, and natural gas last day futures contracts will increase to $8,500 from $6,500 for clearing members, to $9,350 from $7,150 for members, and to $11,475 from $8,775 for customers. The margins for the second month will increase to $9,000 from $6,500 for clearing members, to $9,900 from $7,150 for members, and to $12,150 from $8,775 for customers. The margins for the third month will increase to $9,000 from $8,000 for clearing members, to $9,900 from $8,800 for members, and to $12,150 from $10,800 for customers. Margins for the fourth to seventh months will increase to $10,000 from $9,500 for clearing members, to $11,000 from $10,450 for members, and to $13,500 from $12,825 for customers. The margins for the eighth to ninth months will remain the same. Margins for the 10th to 20th months will increase to $5,500 from $4,000 for clearing members, to $6,050 from $4,400 for members, and to $7,425 from $5,400 for customers. All other months will remain unchanged.

The margins for the first month of the Henry Hub swap and Henry Hub penultimate swap futures contracts will increase to $2,125 from $1,625 for clearing members, to $2,338 from $1,788 for members, and to $2,869 from $2,194 for customers. The margins for the second month will increase to $2,250 from $1,625 for clearing members, to $2,475 from $1,788 for members, and to $3,038 from $2,194 for customers. Margins for the third month will increase to $2,250 from $2,000 for clearing members, to $2,475 from $2,200 for members, and to $3,038 from $2,700 for customers. Margins for the fourth to seventh months will increase to $2,500 from $2,375 for clearing members, to $2,750 from $2,613 for members, and to $3,375 from $3,206 for customers. The margins for the eighth to ninth months will remain the same. The margins for the 10th to 20th months will increase to $1,375 from $1,000 for clearing members, to $1,513 from $1,100 for members, and to $1,856 from $1,350 for customers. All other months will remain unchanged.

Margins for the first month of the NYMEX miNY natural gas futures contract will increase to $2,125 from $1,625 for clearing members, to $2,338 from $1,788 for members, and to $2,869 from $2,194 for customers. The margins for the second month will increase to $2,250 from $1,625 for clearing members, to $2,475 from $1,788 for members, and to $3,038 from $2,194 for customers. Margins for the third month will increase to $2,250 from $2,000 for clearing members, to $2,475 from $2,200 for members, and to $3,038 from $2,700 for customers.

The margins for the first month of the Henry Hub swing swap futures contract will increase to $2,125 from $1,625 for clearing members, to $2,338 from $1,788 for members, and to $2,869 from $2,194 for customers.