Notice No. 00-397
November 16, 2000

TO:
All NYMEX Division Members and Member Firms
All NYMEX Division Clearing Firms
All NYMEX Division Operations Managers

FROM:
Neal Wolkoff, Executive Vice President

SUBJECT: Margin Rate Increase for Natural Gas
_________________________________________________

Effective Date: Friday, November 17, 2000 (close of business)

Futures Contract:  Henry Hub Natural Gas Futures

Contract Months: All Months

Rate Change:
NYMEX Division Margins on Henry Hub Natural Gas Futures Contracts

Effective Date: Friday, November 17, 2000 (close of business)

Clearing Member (Maintenance Margin): Old:  $4,200  New:  $5,500
Member Customer (Initial Margin): Old:  $4,620  New:  $6,050
Non-Member Customer (Initial Margin): Old:  $5,670  New:  $7,425

Should you have any questions regarding these changes, please contact Arthur 
McCoy at (212) 299-2928 or Joe Sanguedolce at (212) 299-2855.

This notice supersedes all previous notices regarding outright margins for 
the NYMEX Henry Hub Natural Gas Futures Contract.


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