(00-323) Margin Change for Crude Oil, Unleaded Gasoline, and ,
 Notice No. 00-323
September 12, 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: Tuesday, September 12, 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 at Close of Business on Tuesday, September 12, 2000
Clearing Member (Maintenance Margin) Old: $2,500 New: $3,000
Member Customer (Initial Margin) Old: $2,750 New: $3,300
Non-Member Customer (Initial Margin) Old: $3,375 New: $4,050

The margin credit for NYMEX Light Sweet Crude/IPE Brent Crude Oil futures 
spread positions will also be increased, from $2,000 to $2,500 (at the 
Clearing Member level), as of Tuesday, September 12, 2000.  The net margin 
after the spread will remain unchanged.


Effective at Close of Business on Tuesday, September 12, 2000


Clearing Member(Maintenance Margin)
NYMEX Light Sweet Crude: $3,000
Less NYMEX Light Sweet/IPE Brent Crude Spread Credit: $2,500
Net Margin of Spread: $500

Member Customer (Initial Margin)
NYMEX Light Sweet Crude: $3,300
Less NYMEX Light Sweet/IPE Brent Crude Spread Credit: $2,750
Net Margin of Spread: $550

Non-Member Customer (Initial Margin)
NYMEX Light Sweet Crude: $4,050
Less NYMEX Light Sweet/IPE Brent Crude Spread Credit: $3,375
Net Margin of Spread: $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.


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