Nymex sets margins for OTC clearing

The New York Mercantile Exchange (Nymex) has set margins for the 25 over–the-counter derivatives contracts it will be clearing from May 31.

Nymex said it would offer clearing services for some of the most commonly traded OTC energy derivatives earlier this month. West Texas intermediate calendar swaps, Henry Hub (natural gas) swaps and a variety of other calendar swap, crack spread and electricity contracts are included in the initiative.

“Recent events have once again brought to the fore the urgency of mitigating counterparty risk for OTC transactions,” said Nymex president J Robert Collins. The exchange’s move came amid the

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