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Enron Mail |
Notice No. 00-354
October 13, 2000 TO: ALL NYMEX MEMBERS AND MEMBER FIRMS ALL NYMEX CLEARING FIRMS ALL NYMEX OPERATIONS MANAGERS FROM: Neal Wolkoff, Executive Vice President SUBJECT: MARGIN RATE CHANGE Effective Date: Friday, October 13, 2000 (close of business) Futures Contracts: Crude Oil Futures Unleaded Gasoline Futures Heating Oil Futures Contract Months: All Months Rate Change: NYMEX Division Margins on Crude Oil, Unleaded Gasoline, and Heating Oil Futures Contracts Effective Date: October 13, 2000 Clearing Member (Maintenance Margin) Old: $3,000 New: $5,000 Member Customer (Initial Margin) Old: $3,300 New: $5,500 Non-Member Customer (Initial Margin) Old: $4,050 New: $6,750 The margin credit for NYMEX Light Sweet Crude/IPE Brent Crude Oil futures spread positions will also be increased, from $2,500 to $4,500 (at the Clearing Member level), as of Friday, October 13, 2000. The net margin after the spread will remain unchanged. NYMEX Light Sweet Crude/IPE Brent Crude Oil Futures Spread Effective Date: October 13, 2000 Clearing Member Member Customer Non-Member Customer NYMEX Light Sweet Crude $5,000 $5,500 $6,750 Less: NYMEX Light Sweet/IPE Brent Crude Spread Credit $4,500 $4,950 $6,075 Net Spread Margin $500 $550 $675 Should you have any questions regarding these changes, please contact Artie McCoy at (212) 299-2928 or Joe Sanguedolce at (212) 299-2855. This notice supersedes all previous notices regarding outright margins for the NYMEX Crude Oil, Unleaded Gasoline, or Heating Oil Futures Contracts and the margin credit for the NYMEX Light Sweet Crude Oil/IPE Brent Crude futures spread positions. __________________________________________________ Please click on the link below to indicate you have received this email. "http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo c=(00-354)" Note: If you click on the above line and nothing happens, please copy the text between the quotes, open your internet browser, paste it into the web site address and press Return.
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