Effective Friday, June 24, 2011, New York Mercantile Exchange, Inc. (NYMEX) will amend Rule 300.08 (Notice of Exercise) concerning the notice of exercise of option contracts.
The revisions allow for the rules of an option product chapter to specify an expiry time other than the standard 4:30 p.m. Eastern time and for an option to operate without an automatic exercise mechanism for in-the-money positions.
These amendments are being made solely to accommodate option products that operate in international markets and the revisions to Rule 300.08 do not modify the requirements for any existing option product.
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