SPAN(r) Advisory #02-10
June 4, 2002

NYMEX E-MiNY FUTURES

NYMEX's new e-MiNY crude oil and natural gas futures will begin
trading on CME's GLOBEX system on June 17th.  PC-SPAN parameters
are as follows:

* Clearing Organization: NYM
* Exchange: NYM
* Product Code:  QG
* Product Names: e-miNY Natural Gas
* Product Type:  Future
* Settlement Currency: USD
* Contract Value Factor:  4,000
* Settlement Method:  DELIV
* Price Quotation Method:  STD
* Valuation Method:  FUT
* Settlement Price Decimal Locator:  3

* Clearing Organization: NYM
* Exchange: NYM
* Product Code:  QM
* Product Names: e-miNY Crude Oil
* Product Type:  Future
* Settlement Currency: USD
* Contract Value Factor:  400
* Settlement Method:  DELIV
* Price Quotation Method:  STD
* Valuation Method:  FUT
* Settlement Price Decimal Locator:  2

NYMEX expresses prices for its natural gas contract as dollars
per mmBTU.  Originally in PC-SPAN, the price quotation convention
was defined as dollars per 10 mmBTU.  To be consistent with the
new price quotation convention, we are changing the parameters
for NG, the "full-sized" natural gas futures, and ON, the "full-
sized natural gas options, as follows:

* For NG futures, the contract value factor changes from 1,000 to
10,000 and the settlement price decimal locator changes from 2 to
3.

* For ON options, the contract value factor changes from 1,000 to
10,000, and both settlement price decimal locator and the strike
price decimal locator change from 2 to 3.

Note that the actual price format for the full-sized natural gas
futures and options has not changed. 

To include positions in these products in portfolios to be
margined using PC-SPAN, as always, you must either manually add
records to the Organization Master file or download the updated
master file at ftp.cme.com/pub/span/util/orgmast.exe.  The
corresponding master files for the old DOS-based PC-SPAN are
ftp.cme.com/pub/span/util/comast11.exe (version 3.11 and higher)
and ftp.cme.com/pub/span/util/comast.exe.