----- Forwarded by Tana Jones/HOU/ECT on 10/16/2000 05:54 PM -----

	Tana Jones
	10/13/2000 09:58 AM
		 
		 To: Mary Lynne Ruffer/HOU/ECT@ECT
		 cc: 
		 Subject: (00-354) Margin Rate Change for CL, HU, and HO


----- Forwarded by Tana Jones/HOU/ECT on 10/13/2000 09:57 AM -----

	exchangeinfo@nymex.com
	10/13/2000 10:07 AM
		 
		 To: tana.jones@enron.com
		 cc: 
		 Subject: (00-354) Margin Rate Change for CL, HU, and HO


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&refdoc
=(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.