Daily GPI / NGI All News Access

Nymex Raises Natural Gas Futures Margins Twice in Two Days

Just one day after it raised its margins, the New York Mercantile Exchange Inc. (Nymex) said late Thursday that it is increasing the margins yet again for its natural gas futures, Henry Hub swap futures, Nymex miNYsm natural gas futures, Henry Hub swing swap futures, and Henry Hub penultimate swap futures contracts, effective at the close of business on Friday. The move marks the fifth time in a little over a month that Nymex has raised the margins for these markets (see Daily GPI, Aug. 17; Aug. 26; Aug. 30, Sept 22).

Margins on the first month of the natural gas futures contract will increase to $16,000 from $13,000 for clearing members; to $17,600 from $14,300 for members; and to $21,600 from $17,550 for customers. The margins on the second month will increase to $15,000 from $12,500 for clearing members; to $16,500 from $13,750 for members; and to $20,250 from $16,875 for customers. Margins on the third month will increase to $14,500 from $12,500 for clearing members; to $15,950 from $13,750 for members; and to $19,575 from $16,875 for customers. The margins on the fourth to sixth months will increase to $ 14,000 from $12,000 for clearing members; to $15,400 from $13,200 for members; and to $18,900 from $16,200 for customers. Margins on all other months are unchanged.

The margins on the first months of the Henry Hub swap and Henry Hub penultimate swap futures contracts will increase to $4,000 from $3,250 for clearing members; to $4,400 from $3,575 for members; and to $5,400 from $4,388 for customers. The margins on the second month will increase to $3,750 from $3,125 for clearing members; to $4,125 from $3,438 for members; and to $5,063 from $4,219 for customers. Margins on the third month will increase to $3,625 from $3,125 for clearing members; to $3,988 from $3,438 for members; and to $4,894 from $4,219 for customers. The margins on the fourth to sixth months will increase to $3,500 from $3,000 for clearing members; to $3,850 from $3,300 for members; and to $4,725 from $4,050 for customers. All other months will remain the same.

Margins on the first month of the Nymex miNYsm natural gas futures contract will increase to $8,000 from $6,500 for clearing members; to $8,800 from $7,150 for members; and to $10,800 from $8,775 for customers. Second month margins will increase to $7,500 from $6,250 for clearing members; to $8,250 from $6,875 for members; and to $10,125 from $8,438 for customers.

Margins on first month of the Henry Hub swing swap futures contracts will increase to $4,000 from $3,250 for clearing members; to $4,400 from $3,575 for members; and to $5,400 from $4,388 for customers.

©Copyright 2005 Intelligence Press Inc. All rights reserved. The preceding news report may not be republished or redistributed, in whole or in part, in any form, without prior written consent of Intelligence Press, Inc.

Copyright ©2018 Natural Gas Intelligence - All Rights Reserved.
ISSN © 2577-9877 | ISSN © 1532-1231
Comments powered by Disqus