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Nymex Raises Margins Again on Natural Gas Futures

For the fourth time in a little more than a month, the New York Mercantile Exchange Inc. (Nymex) announced margin increases on Wednesday for its natural gas futures, Henry Hub swap futures, Nymex miNY natural gas futures, Henry Hub swing swap futures, and Henry Hub penultimate swap futures contracts, effective at the close of business on Thursday (see Daily GPI, Aug. 17; Aug. 26; Aug. 30).

Margins on the first month of the natural gas futures contract will increase to $13,000 from $10,000 for clearing members; to $14,300 from $11,000 for members; and to $17,550 from $13,500 for customers. The margins on the second month will increase to $12,500 from $10,000 for clearing members; to $13,750 from $11,000 for members; and to $16,875 from $13,500 for customers. Margins on other months up to the sixth month also will rise.

The margins on the first months of the Henry Hub swap and Henry Hub penultimate swap futures contracts will increase to $3,250 from $2,500 for clearing members; to $3,575 from $2,750 for members; and to $4,388 from $3,375 for customers. And the margins on all the other months through the sixth month also will increase.

Nymex said margins on the first month of the its miNY gas futures contract will increase to $6,500 from $5,000 for clearing members; to $7,150 from $5,500 for members; and to $8,775 from $6,750 for customers. Second month margins will increase to $6,250 from $5,000 for clearing members; to $6,875 from $5,500 for members; and to $8,438 from $6,750 for customers.

Margins on first month of the Henry Hub swing swap futures contracts will increase to $3,250 from $2,500 for clearing members; to $3,575 from $2,750 for members; and to $4,388 from $3,375 for customers.

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