• Amendments to Twenty-Two (22) NYMEX Electricity Products

      • To
      • Members, Member Firms and Market Users
      • From
      • Research and Product Development
      • #
      • SER-7415
      • Notice Date
      • 29 July 2015
      • Effective Date
      • 23 August 2015
    • Effective Sunday, August 23, 2015, for the trade date Monday August 24, 2015, and pending all relevant CFTC regulatory review periods, New York Mercantile Exchange, Inc. (NYMEX or Exchange) will amend the termination of trading rules for twenty-two (22) electricity products, shown below in Tables 1 and 2.

      Trading in each of the nineteen (19) monthly futures contracts will terminate prior to the start of the contract month.  The day-ahead monthly contracts will expire at the close of business two business days prior to the start of the contract month; the real-time monthly contracts will expire at the close of business one business day prior to the start of the contract month.  Existing positions at the termination of trading will be converted into strips of corresponding daily futures contracts within the originally specified calendar month.  The daily futures contract associated with each affected monthly futures contract is shown above in Table 1.  By terminating trading in the day-ahead monthly contracts two business days before the contract month and by terminating trading in the real-time monthly contracts one business day before the contract month, it is possible to trade all of the associated daily contracts that are obtained after the conversion. The transformation of the monthly electricity contracts into strips of daily futures will commence with the September 2015 contract month.

      Please refer questions on this subject to:

      Greg Price                                          Gregory.Price@cmegroup.com                                      (212) 299-2625

      Mike Marano                                       Michael.Marano@cmegroup.com                                   (212) 299-2387


      Please click here for complete SER-7415.