Trading Alert: NYMEX revises margins for Natural Gas and related futures contracts

NYMEX has announced a number of margin changes for its natural gas and gas-related futures contracts.

The related contracts include Henry Hub swaps, NYMEX miNYTM natural gas, Henry Hub swing swap, Henry Hub penultimate swap, and the natural gas penultimate and last day futures contracts at the close of business on Thursday 29 June.

Natural Gas futures:

  • Margins for the first and second months of the natural gas futures contract will remain unchanged.
  • The margins for the third and fourth months will increase to USD 8,000 from USD 7,500 for clearing members, to USD 8,800 from USD 8,250 for members, and to USD 10,800 from USD 10,125 for customers.
  • Margins for the fifth to eighth months will increase to USD 9,500 from USD 9,000 for clearing members, to USD 10,450 from USD 9,900 for members, and to USD 12,825 from USD 12,150 for customers.
  • Margins for the ninth and 10th months remain unchanged.
  • Margins for the 11th to 21st months will increase to USD 4,000 from USD 3,500 for clearing members, to USD 4,400 from USD 3,850 for members, and to USD 5,400 from USD 4,725 for customers.
  • Margins for the 22nd to 44th months will increase to USD 3,500 from USD 3,000 for clearing members, to USD 3,850 from USD 3,300 for members, and to USD 4,725 from USD 4,050 for customers.
  • Margins for the 45th to 57th months will increase to USD 3,000 from USD 2,500 for clearing members, to USD 3,300 from USD 2,750 for members, and to USD 4,050 from USD 3,375 for customers.
  • Margins for all other months will increase to USD 2,500 from USD 2,000 for clearing members, to USD 2,750 from USD 2,200 for members, and to USD 3,375 from USD 2,700 for customers.

Henry Hub swing swap and penultimate swap futures:

  • Margins for the first and second months of the Henry Hub swing swap and Henry Hub penultimate swap futures contracts will remain unchanged.
  • Margins for the third and fourth months will increase to USD 2,000 from USD 1,875 for clearing members, to USD 2,200 from USD 2,063 for members, and to USD 2,700 from USD 2,531 for customers.
  • The margins for the fifth through eighth months will increase to USD 2,375 from USD 2,250 for clearing members, to USD 2,613 from USD 2,475 for members, and to USD 3,206 from USD 3,038 for customers.
  • Margins for the ninth and 10th months will remain unchanged. Margins for the 11th to 21st months will increase to USD 1,000 from USD 875 for clearing members, to USD 1,100 from USD 963 for members, and to USD 1,350 from USD 1,181 for customers.
  • Margins for the 22nd to 44th months will increase to USD 875 from USD 750 for clearing members, to USD 963 from USD 825 for members, and to USD 1,181 from USD 1,013 for customers.
  • Margins for the 45th to 57th months will increase to USD 750 from USD 625 for clearing members, to USD 825 from USD 688 for members, and to USD 1,013 from USD 844 for customers.
  • Margins for all other months will increase to USD 625 from USD 500 for clearing members, to USD 688 to USD 550 for members, and to USD 844 from USD 675 for customers.
  • The margins for the first and second months of the NYMEX miNYTM natural gas futures contracts will remain unchanged. Margins for the third month will increase to USD 2,000 from USD 1,875 for clearing members, to USD 2,200 from USD 2,063 for members, and to USD 2,700 from USD 2,531 for customers.
  • Margins for the first month of the Henry Hub swing swap futures contract will remain unchanged.

Natural gas penultimate and last day futures:

  • Margins for the first two months of the natural gas penultimate and natural gas last day futures contracts will remain unchanged.
  • Margins for the third and fourth months will increase to USD 8,000 from USD 7,500 for clearing members, to USD 8,800 from USD 8,250 for members, and to USD 10,800 from USD 10,125 for customers.
  • Margins for the fifth to eighth months will increase to USD 9,500 from USD 9,000 for clearing members, to USD 10,450 from USD 9,900 for members, and to USD 12,825 from USD 12,150 for customers.
  • Margins for the ninth and 10th months remain unchanged. The margins for the 11th to 21st months increase to USD 4,000 from USD 3,500 for clearing members, to USD 4,400 from USD 3,850 for members, and to USD 5,400 from USD 4,725 for customers.
  • Margins for the 22nd to 44th months will increase to USD 3,500 from USD 3,000 for clearing members, to USD 3,850 from USD 3,300 for members, and to USD 4,725 from USD 4,050 for customers.
  • Margins for the 45th to 57th months will increase to USD 3,000 from USD 2,500 for clearing members, to USD 3,300 from USD 2,750 for members, and to USD 4,050 from USD 3,375 for customers.
  • Margins for all other months will increase USD 2,500 from USD 2,000 for clearing members, to USD 2,750 from USD 2,200 for members, and to USD 3,375 from USD 2,700 for customers.
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