Notice No. 00-420
December 07, 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, December 08, 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

Clearing Member (Maintenance Margin):  Old:  $10,000  New:  $12,000

Member Customer (Initial Margin):      Old:  $11,000  New:  $13,200

Non-Member Customer (Initial Margin):  Old:  $13,500  New:  $16,200

Intra-Commodity Straddle Margin

Clearing Member and Member Customer Maintenance

Group 1:  Old:  $1,500  New:  $2,500   Group 1 ~ 1st Nearby
Group 2:  Old:  $500    New:    $2,500   Group 2 ~ 2nd Nearby
Group 3:  Old:  $500    New:    $2,500   Group 3 ~ 3rd - 6th Nearby
Group 4:  Old:  $250    New:    $1,000   Group 4 ~ 7th - 12th Nearby
Group 5:  Old:  $100    New:    $200     Group 5 ~ Greater than 12th Nearby

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.


__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(00-420)"

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.