May 28, 2008 / 8:46 PM / 12 years ago

NYMEX to raise margins on crude, related futures

NEW YORK, May 28 (Reuters) - The New York Mercantile Exchange said on Wednesday it was raising margins for its crude oil and related futures contracts at the close of business on Thursday.

Margins for the crude oil, crude oil calendar swap, and crude oil financial futures contracts will increase to $7,750 from $7,250 for clearing members, to $8,525 from $7,975 for members and to $10,463 from $9,788 for customers, NYMEX said in a release.

Margins for the NYMEX miNY crude oil futures contract will go up to $3,875 from $3,625 for clearing members, to $4,263 from $3,988 for members and to $5,231 from $4,894 for customers.

Margins for the NYMEX MACI index futures contract will rise to $1,550 from $1,450 for clearing members, to $1,705 from $1,595 for members and to $2,092 from $1,958 for customers.

Intra-commodity spread margins for the first month of the crude oil, crude oil calendar swap, and crude oil financial 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 the 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 the 19th to 42nd months will go up 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 rise to $300 from $100 for clearing members, to $330 from $110 for members and to $405 from $135 for customers. (Reporting by Gene Ramos; Editing by Walter Bagley)

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