NYMEX to Change Margins for Brent Crude Oil, Related Futures Contracts
Posted on May 30, 2008 – 10:56 am | by vchris
N.Y., May 29, 2008 — The New York Mercantile Exchange, Inc. today announced changes to the intra-commodity spread margins for its Brent crude oil financial, Brent crude oil last day, Brent (ICE) calendar swap futures contracts, effective at the close of business tomorrow.
Intra-commodity spread margins for the first month of the Brent crude oil financial and Brent crude oil last day futures contracts will increase to $450 from $400 for clearing members, to $495 from $440 for members, and to $608 from $540 for customers. Intra-commodity spread margins for second to 18th months will increase to $400 from $250 for clearing members, to $440 from $275 for members, and to $540 from $338 for customers. Intra-commodity spread margins for 19th to 42nd months will increase to $300 from $150 for clearing members, to $330 from $165 for members, and to $405 from $203 for customers. Intra-commodity spread margins for all other months will increase to $300 from $100 for clearing members, to $330 from $110 for members, and to $405 from $135 for customers.
Intra-commodity spread margins for the first month of the Brent (ICE) calendar swap futures contract will increase to $450 from $400 for clearing members, to $495 from $440 for members, and to $608 from $540 for customers. Intra-commodity spread margins for the second to 18th months will be $400 for clearing members, $440 for members, and $540 for customers. Intra-commodity spread margins for all other months will be $300 for clearing members, $330 for members, and $405 for customers.
About NYMEX Holdings, Inc.
NYMEX Holdings, Inc. (NYSE: NMX) is the parent company of the New York Mercantile Exchange, Inc., the world’s largest physical commodities exchange, offering futures and options trading in energy and metals contracts and clearing services for more than 400 off-exchange contracts. Through a hybrid model of open outcry floor trading and electronic trading on CME Globex® and NYMEX ClearPort®, NYMEX offers crude oil, petroleum products, natural gas, coal, electricity, gold, silver, copper, aluminum, platinum group metals, emissions, and soft commodities contracts for trading and clearing virtually 24 hours each day. Further information about NYMEX Holdings, Inc. and the New York Mercantile Exchange, Inc. is available on the NYMEX website at http://www.nymex.com/.
Forward Looking and Cautionary Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results. Forward-looking statements involve a number of assumptions, risks, and uncertainties, any of which may cause actual results to differ materially from the anticipated, estimated, or projected results referenced in forward-looking statements. In particular, the forward-looking statements of NYMEX Holdings, Inc., and its subsidiaries are subject to the following risks and uncertainties: the success and timing of new futures contracts and products; changes in political, economic, or industry conditions; the unfavorable resolution of material legal proceedings; the impact and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions,including without limitation, actions by the Commodity Futures Trading Commission; and terrorist activities and international hostilities, which may affect the general economy as well as oil and other commodity markets. We assume no obligation to update or supplement our forward-looking statements.
SOURCE: NYMEX Holdings, Inc.
CONTACT: Keil Decker of NYMEX Holdings, Inc., +1-212-299-2209
Web site: http://www.nymex.com/
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