04/11/2001
The amendments relate to the quantity which is understood to be bid or offered in the ring when no quantity is specified. Currently, this amount is five contracts for NYMEX crude oil, natural gas, heating oil, unleaded gasoline, platinum and palladium futures contracts. The amendments change this quantity to ten contracts for the above-referenced products.
If you have any questions, please contact George Henderson, Vice President - Floor Operations at 212-299-2071.
NEW AMENDMENTS TO NYMEX RULE 6.05(A)
(Bold indicates additions;
Rule 6.05. TRANSACTIONS, BIDS AND OFFERS ON THE TRADING FLOOR
(A) Except as otherwise specifically provided in the Bylaws and Rules, all purchases, sales, bids and offers for futures and options contracts:
(1) shall be executed openly and competitively by open outcry in the appropriate trading ring during the authorized hours of trading;
(2) shall, for light sweet crude oil, heating oil, New York Harbor unleaded gasoline, natural gas, platinum and palladium futures contracts, be understood to be for
(3) shall be open to the first Member immediately accepting such bid or offer;
(4) shall be binding upon the first Member accepting such bid or offer or part of such bid or offer at the price named by the bidding or offering Member; and shall be deemed withdrawn if not accepted immediately.