05/04/2001
Specifically, beginning on Friday, May 11, 2001 and continuing for subsequent Friday post-close sessions (and post-close sessions the day before a mid-week Exchange holiday) the following changes will be in effect:
(1) Contract months eligible for trading in these sessions will be expanded from the first four to the first 12 consecutive listed contract months.
(2) The sessions will be 5 minutes in duration.
(3) The trading range for these sessions will be expanded by adding the following ticks above (below) the daily high (low) for the applicable contract month (provided that this expanded trading range does not violate the maximum permissible price fluctuation limits then in effect):
Crude Oil — 20 ticks
Heating Oil — 50 ticks
Unleaded Gas — 50 ticks
Natural Gas — 50 ticks
AMENDMENTS TO NYMEX RULE 6.57("POST-CLOSE TRADING SESSION") AND NYMEX RULE 6.57A ("END OF WEEK TRADING SESSION")
(Bold indicates additions; Strikethrough indicates deletions)
Rule 6.57A. END OF WEEK TRADING SESSION
On the last trading day of the calendar week, and, in any week when an Exchange holiday falls on a Tuesday, Wednesday or Thursday on the trading day preceding such midweek Exchange holiday, there shall be no post-close trading session provided on the trading floor pursuant to Rule 6.57. Instead, on such dates, an end of week trading session (the "End of Week Session") shall commence on the trading floor pursuant to this rule and subsequent to the close. Except as otherwise provided by the President or the President’s designee for a particular trade date, such End of Week Session shall commence twenty (20) minutes after the close of trading in all futures contracts and shall continue for a period of
(A) Trading during the End of Week Session shall be limited to the first
(B) Trades occurring during the End of Week Session for a particular contract month of a futures contract shall be executed openly and competitively at a price within the daily trading range of the applicable contract month for that futures contract and as further expanded above the daily high and below the daily low only for the contracts listed below provided however that no such expanded trading range may exceed the price fluctuation limits in effect for the applicable contract as of the end of the RTH session:
CONTRACT — ADDITIONAL TICKS
Crude Oil — 20 ticks
Natural Gas — 50 ticks
Unleaded Gas — 50 ticks
Heating Oil — 50 ticks
(C) During the End of Week Session, Floor Members, Floor Brokers and their customers may participate in the same manner as trading occurring during the regular RTH session, except that any order submitted during the RTH session, including but not limited to resting orders such as stop orders, limit orders and good until cancelled (GTC) orders, will be deemed to have expired as of the end of RTH for purposes of this End of Week Session. Accordingly, in the event that a market participant with such an expired order seeks to participate in the End of Week Session, a new order must be submitted.
(D) Prices for trades executed during the End of Week Session shall be reported on public ticker services;
(E) Current market prices and trades executed during the End of Week Session shall not be considered in determining any settlement price; and
(F) Floor Members executing trades during the End of Week Session shall mark a line across their trading cards prior to the entry of an End of Week Session trade.