News Release

Exchange to Add Trading Months for Gasoline Calendar Spread Options

Thu Feb 17 2005
NEW YORK, N.Y., February 17, 2005 — The New York Mercantile Exchange, Inc., announced today that it will begin listing new calendar spread options contracts based on the June to September and September to December differentials of the gasoline futures contract tomorrow.

In addition, an options contract on the spread between December 2005 and March 2006 will be added on March 1, when the March 2006 underlying futures contract is initially listed.

The 12 consecutive one-month spreads and the options on spreads between the first and third nearby months, the first and fourth nearby months, and the second and fourth nearby months will continue to be listed.

Exchange President James E. Newsome said, "The Exchange expanded the listed months for gasoline calendar spread options contracts to provide market participants with more versatile risk management and arbitrage opportunities."

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