Nymex Revises Copper Margin Increases

The New York Mercantile Exchange, Inc., today announced that it has revised the margin increases announced yesterday on its COMEX Division copper futures contracts to be limited to the February 2001 contract.

The Exchange had previously announced that these increases would also be made to the March 2001 futures contract.

As previously announced, at the close of business on February 2, clearing member margins will be increased to $3,000 from $1,000, member margins will be increased to $3,300 from $1,100, and customer margins will be increased to $4,050 from $1,350.

At the close of business on February 9, clearing member margins will be increased to $5,000 from $3,000, member margins will be increased to $5,500 from $3,300, and customer margins will be increased to $6,750 from $4,050.