The holiday calendar has not been published for 2010 and this has created some uncertainty with regards to December 31, 2010 for some CME Group products which are listing deferred contracts out this far. Therefore, to eliminate uncertainty and provide clarity to products with extended listing schedules, CME Group is declaring December 31, 2010 an exchange business day.
As is its custom, NYMEX posted an unofficial expiration calendar ahead of when the official holiday schedule for 2010 is published. This gives the market an indication of what to expect. The unofficial expiration calendar reflected previous NYMEX practice that when New Year’s Day falls on a Saturday NYMEX is closed on Friday, December 31st. So market participants in NYMEX products with listed December 2010 expiration dates have been operating under the assumption that the expiration date for those products will be Thursday, December 30, 2010.
However CME Group has determined that December 31, 2010 will be an exchange business day (it will not be a bank holiday or financial holiday and it is unlikely to be a stock market holiday). Therefore all CME Group products with expiration dates of December 30, 2010 due to the expectation NYMEX would be closed on December 31, 2010, will be changed to December 31, 2010.
If you have any questions, please contact Joe Raia, Managing Director, Energy and Metals Products, at 212-299-2374, or Robert Levin, Managing Director, Research and Product Development, at 212-299-2390.