Client Management Advisory Notice
From | CME Client Management
Subject | IMPORTANT REMINDER - Launch Of NYMEX e-miNY Products On GLOBEX - Monday, June 17, 2002.
Effective Date | 06/10/02
Notice Number | CM#0243
The notice is a reminder concerning the launch of NYMEX e-miNY products on GLOBEX, Monday, June 17, 2002. On launch day only, NYMEX e-miNY Natural Gas and Light Sweet Crude will begin trading at 9:00 a.m. CT (10:00 EST) until 1:30 p.m. CT (2:30 EST). Trading will re-open at 2:15 p.m. (CT) and continue through 1:30 p.m. (CT) the next day. Regular trading hours for these products will be 2:15 p.m. CT (3:15 EST) through 1:30 p.m. CT. (2:30 EST). This notice reiterates the information that was provided in our notice dated June 7th (Notice # CM0242) and includes information on Give-ups done through GLOBEX. It also contains a correction to the contact name/phone number at NYMEX for General Inquiries. Getting Ready � New Paperwork Required You should have already received a packet from CME�s Technology Marketing Department that includes the new forms that must be completed for trading the e-miNY products on GLOBEX. (Please click on attached link http://www.cme.com/clr/advntc/clien_CM_0238.html, if you have not yet received this important packet of information.) This paperwork must be completed and returned to Lilly Riley in CME�s Technology Marketing Department, as soon as possible. NOTE: Your clerks and traders will not be permissioned to trade the NYMEX e-miNY products if you have not completed the new forms. Clearing Arrangements NYMEX will clear all NYMEX e-miNY trades. You will not receive any MQM/TREX messages, Clearing reports or data files from CME. If your firm is not currently a NYMEX clearing member, you must either become a clearing member or establish a clearing relationship with a firm that is a NYMEX clearing member. Trade Submission and Clearing Process Trades that result from NYMEX e-miNY orders entered by existing CME GLOBEX users, will be sent to NYMEX via M1 (Matched Trade) records that are generated by the GLOBEX Match Engine. These records will contain an Exchange Code of "07." NYMEX will process these transactions through their TMS, C-21 Clearing and Billing Systems. These transactions will be sent to NYMEX clearing firms via the following NYMEX trade transmissions: Afternoon Trade File � Created daily from TMS between 5:00 p.m. and 5:30 p.m. (EST) Final Member Trade File � Created daily from C21 at the end of the Clearing process, normally between 8:30 p.m. and 9:00 p.m. (EST) TMS "Member Trade Download" � On-line function from which clearing members can extract trades for a particular venue (or all) at any time. There won�t be any changes to the file formats for the two files listed above. However, GLOBEX trades will be identified with "GLBX" in the trade venue attribute. In addition, at present, NYMEX does not offer "real time" trade/transaction messaging of GLOBEX trades. Give-up Processing Although NYMEX does not have a Give-up system similar to CME�s GUS, firms may still do Give-up trades on GLOBEX for NYMEX products. When the order is entered on GLOBEX, the GU indicator must be entered in the Foreign Exchange Field in the Clearing Information Box on the GLOBEX screen. In addition, the firm to which the trade is being given up must be specified in the Foreign Firm Field. Upon receipt of the trade, NYMEX will post the trade to the Give-up firm at NYMEX . The trade will appear on the Give-up firm�s Afternoon and Final Member Trade Files and Clearing reports. Contacts Please contact one of the following:
NYMEX Clearing Questions: | NYMEX Clearing Department at 212.299.2120
New Paperwork Requirements: | NYMEX Marketing: Don Forbes 212.299.2340 or Jim Quinn 212.299.2352 CME Technology Marketing: Lilly Riley 312.634.1568
Contract Specifications: | Bob Levin, NYMEX 212.299.2390
General Information: | Michele Ivanski, CME Client Management 312.930.4523 Audrey Dendy-Hightower, NYMEX 212.299.2759