Notice to Members
Notice No. 178 05/30/2001
Procedures for Recording Spread Transactions on NYMEX Division Trading Pads/Cards
NYMEX members have recently been advised through Notice to Members 01-174 of the upcoming incorporation of spreads into the one-minute trade time statistics. Weekly statistics are currently being posted outside the NYMEX Division trading floor. Monthly statistics will subsequently be posted. These spread statistics will not be counted in a member's overall percentages until the closure of a phase-in period, which is anticipated to be approximately ninety (90) days. In connection with this matter, a number of discussions have taken place between the Ad Hoc Committee of the Floor Committee, who is presently involved in the upcoming audit trail classes for members (Thursday, June 14, Tuesday, July 10, and Wednesday, August 15, 2001). During these discussions, questions have been raised with Staff as to the proper or acceptable ways of recording spread transactions on a member's trading pad/card. To assist floor members, the pictorial below demonstrates three methods of recording the sale of a spread (no prices-A, one leg price-C, and both leg prices-D), as well as a purchase of a spread (B).
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com