Notice to Members
Notice No. 349 12/13/2002
Changes in OTC Clearing Hours of Service and Related Amendments to NYMEX Rule 9.04A
Please be advised that commencing on Monday, December 16, 2002, the Exchange will be expanding the hours of service for the Exchange's OTC Clearing services and also adding certain refinements to the trade blotter used in submitting transactions via the Exchange’s website. The new hours will be reflected in amendments to Rule 9.04A that also go into effect on Monday. New Hours for Electronic Submission of OTC Trades by Brokers Specifically, the hours for electronic submission of transactions via the NYMEX website will be expanded to allow for submission of trades from 7:00 p.m. Sunday evening through 2:30 p.m. Friday afternoon, except for a switch over period from 2:30 p.m. to 3:15 p.m. Monday-Thursday. Any transaction received after 2:30 p.m. on any of these dates will be screened by the RAV risk filter set by the customer's Clearing Member for that account at the time of submission; however, any transaction submitted after 2:30 p.m. that successfully passes the RAV filter would not be processed for clearing on that date, but instead would be held for processing on the following Exchange business day. New Hours for OTC Clearing Customer Support Beginning on Monday, the Exchange is also expanding the hours of service of the NYMEX Customer Service Call Center (NSCC) for assistance with OTC Clearing transactions. The new hours of operation will be 7:30 a.m. to 5:00 p.m. (Monday-Friday). Such assistance may include answering questions concerning OTC trades submitted via the website. In addition, NSCC staff may input OTC trades into the system for customers who do not have brokers to submit such trades on their behalf to the Exchange. Again, any transaction submitted after 2:30 p.m. that successfully passes the RAV filter level set by the customer's Clearing Member would not be processed for clearing on that date but instead would be held for processing on the following Exchange business day. Consolidated Trade Blotter At this time, the Exchange is also implementing an enhanced version of the trade blotter utilized in submitting OTC trades via the NYMEX website. In particular, pertinent trade data now will be displayed in a more consolidated manner on this trade blotter. Specific details can be accessed by clicking on a trade reference number. The detailed Trade view page will show: i. Ref# ii. Submit Date iii. Trade Date iv. Clearing Date (the exchange business date following the date on which a trade was submitted) v. Status vi. Status Reason vii. Selected Contract viii. Minimum Quantity Increment ix. Minimum Price Increment x. Start xi. End xii. Quantity xiii. Price xiv. Buyer or seller's company's FULL name * xv. Buyer or seller's Clearing Firm and Account * *The customer (i.e., the principal) will only see his/her own Clearing Firm and Account information.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com