05/11/2001
Changes will be going into effect today, Friday, May 11, 2001 for the End of Week post-close trading sessions and also, beginning on Monday, May 14, 2001, for the Monday-Thursday post-close trading sessions. The trading range for all of 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
Clarification
Previously, the trading range for the Monday-Thursday sessions was the closing range for the applicable contract month. Exchange staff interpreted the rule to provide that if a contract month did not trade during the close, there would be no closing range and thus it would not be permissible to trade that contract month during the post-close. Now, as noted above, the post-close session trading range on any day of the week will be an expanded version of the daily range. Therefore, the Exchange is issuing the following clarifications as to the contract months that can be traded during a post-close session (on any day of the week):
- Only the first twelve listed contract months are eligible for trading in the post-close.
- If a particular contract month does not trade during the RTH session, it may not be traded during the post-close.
- It is not necessary for a contract month to trade during the close in order to be traded in the post-close as long as it has traded during the RTH session.