Clearing House Advisory Notices
To | Clearing Member Firms
From | CME Clearing
Subject | Integration of NYMEX into CME Clearing
Notice Date | 2008-10-09
Notice Number | 08-252
Effective Date | 2008-10-09
This advisory presents an overview of the process and timeline by which NYMEX and COMEX products will be integrated into CME Clearing. The integration will be accomplished in four phases: Phase 1 – Monday, December 8, 2008: Back-end integration – clearing-level performance bond (margins), collateral management, financial settlement and banking Phase 2 – Friday, April 10, 2009: Combined customer-level performance bond processing Phase 3 – Monday, July 13, 2009: Front-end integration – trade and position processing – for COMEX products Phase 4 – Monday, August 3, 2009: Front-end integration – trade and position processing – for NYMEX products This plan provides important near-term financial benefits for joint clearing members with minimal disruption to existing clearing practices for NYMEX and COMEX products, while providing plenty of time for testing and implementation of the more significant changes associated with integration of trade and position processing. For the full-text of this advisory, please click here.