News Release

Exchange Announces Position Accountability Levels, and Reporting Requirements for Four New Freight Swap Futures Contracts

Wed May 18 2005
New York, N.Y., May 18, 2005 — The New York Mercantile Exchange, Inc., today announced the position accountability levels and reporting requirements for its four new freight swap futures contracts which begin trading on May 23.

The position accountability levels for the Freight Route TC2 swap futures contract will be 5,000 contracts for any single month or all months, with the exception of a 500-contract level for the last three days of the expiring contract. The position accountability levels for the Freight Route TD3 and TD5 swap futures contracts will be 10,000 contracts for any single month or all months, with the exception of a 2,500-contract level for the last three days of the expiring contract. The position accountability levels for the Freight Route TD7 swap futures contract will be 10,000 contracts for any single month or all months, with the exception of a 1,000-contract level for the last three days of the expiring contract. Clearing members must identify customers with a position of 25 contracts or more to the Exchange.



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