Notice to Members
Notice No. 328 10/01/2001
Mandatory Attendance by Floor Broker clerks and Clearing Member Representatives to Resolve Breaks
As all NYMEX Division Members and Clearing Members are aware, the recovery from the events of September 11 have been operationally difficult. The extremely high volume combined within a shorter trading day has created extraordinary demands on the support staffs of both Floor Members and Clearing Members. In the past 2 weeks the support of staff of Floor Members and Clearing Members has been required to attend sessions after the close of the markets in order to remedy breaks and avoid any further hardship associated with them. To date the support of this effort has been mixed. I am placing the following requirements in place until further notice in order to ensure a remedy of this situation. As NYMEX staff monitors the resolution of the outstanding breaks, these requirements may be modified. All NYMEX Members, Clearing Members and their staffs are asked to be patient in supporting eachother and the Exchange as we progress through these difficult times. Effective for Trade Dates Monday, October 1, 2001 and Tuesday, October 2, 2001 Floor Brokers who trade Energy Futures and Options: Must have a knowledgeable representative on the floor until at least 6:00p.m. Non-attendance of a Floor Broker's representative should be brought to the attention of NYMEX staff in the Trade Processing area on the 3rd floor or by phone at ext.2626. Members in violation are subject to sanction on a summary basis by the Floor Committee. A violation will occur if either the Member's clerk is not present on the trading floor or if the Member floor broker is needed to resolve a break, but is not available by phone or in person. All floor members will be required to supply an after hours contact phone number to the Exchange. This information will be maintained by the Exchange and will not be disclosed otherwise. Announcements will be made explaining the procedure for supplying the information. All NYMEX Division Clearing Members The 10th floor Seminar Room will be available to any Clearing Member wishing to make use of this area for purposes of resolving breaks. A NYMEX staff person will be present in this area at 299-2178 from 2:00 until 6:00p.m. daily to direct calls to any Clearing Member in attendance at this location. Phones, fax machines, C-21 and OLTE terminals are available. The Compliance staff will contact all Clearing Members today to update a list of contacts at each firm and identify 10th floor attendance in order to create a list which will be continually updated and available to all Members on the 3rd floor in the Trade Processing area. Ferry service will be available until 7:00p.m.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com