 NYMEX Products and the CME Messaging Policy
Effective Tuesday, February 27, NYMEX products on CME Globex will be subject to the CME Messaging Policy. The CME Messaging Policy is a fair business policy
which encourages market participants to trade and quote appropriately without harming market liquidity. Detailed information
on the CME Messaging Policy is available at www.cme.com/messagingpolicy.
The following NYMEX products will be subject to the CME Messaging Policy for the second quarter of 2007, with the following
product benchmarks:
| Product |
Product Code |
Product Benchmarks |
| Financially Settled Products |
| Crude Oil Futures & Spreads |
WS |
50:1 |
| Physically Settled Products |
| Crude Oil Futures & Spreads |
CL |
25:1 |
| Natural Gas Futures & Spreads |
NG |
35:1 |
| NYMEX miNY Energy Products |
| Natural Gas Futures & Spreads |
QG |
50:1 |
| Crude Oil Futures & Spreads |
QM |
45:1 |
NYMEX Clearing Firms will begin receiving reports when their Volume Ratios exceed the product benchmarks. There will be a
grace period from February 27 to March 30, during which time no surcharges will be assessed. Beginning April 2, 2007, surcharges
will be levied when a Clearing Firm has exceeded their two allowed notices. The surcharge is $2000.00 per trading session
per product where the benchmark has been exceeded.
For questions on the CME Messaging Policy, please contact CME Globex Account Management at 312.634.8700 or the CME Globex Control Center at 312.456.2391.
More information on NYMEX products on the CME Globex platform is available at www.nymexoncmeglobex.com.
©2007 Chicago Mercantile Exchange Inc (CME). All rights reserved.
The Globe Logo, Globex® and CME® are trademarks of CME
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