12/18/2002
Specifically, the amendments lower the applicable position accountability level for all of the new futures contracts that were recently listed for trading on NYMEX ACCESS®, except for the natural gas and natural gas basis futures contracts included in that product launch, which will remain at 2,000 contracts.
Rule 9.27. EXPIRATION AND CURRENT DELIVERY MONTH POSITION LIMITS OR POSITION ACCOUNTABILITY
(A) No person may own or control a net long position or a net short position in the expiration or current delivery month (as defined in this Rule 9.27 for energy and metals contracts respectively) in excess of the levels set forth in this Rule 9.27.
(B) The expiration position limits for energy contracts set forth below are effective on the open of trading of the last three trading days of the futures contract. The expiration position limits shall be calculated on a net futures-equivalent basis. For purposes of this rule, a Crude Oil emiNY(SM)contract shall be deemed equivalent to .40 of a Crude Oil light Sweet future cited in (i)(a) below. A Natural Gas emiNY(SM) shall be deemed equivalent to .40 of a Natural Gas future cited in (x) below.
The expiration position limits for energy futures contracts are:
| (i) | Crude Oil Light Sweet | 1,000 contracts |
| (ii) | (reserved) | |
| (iii) | (reserved) | |
| (iv) | (reserved) | |
| (v) | (reserved) | |
| (vi) | (reserved) | |
| (vii) | (reserved) | |
| (viii) | New York Harbor Unleaded Gasoline | 1,000 contracts |
| (ix) | New York Heating Oil | 1,000 contracts |
| (x) | Natural Gas | 1,000 contracts |
| (xi) | (reserved) | |
| (xii) | (reserved) | |
| (xiii) | Liquefied Propane Gas | 250 contracts |
| (xiv) | (reserved) | |
| (xv) | (reserved) | |
| (xvi) | (reserved) | |
| (xvii) | (reserved) | |
| (xviii) | (reserved ) | |
| (xix) | (reserved) | |
| (xx) | Central Appalachian Coal | 200 contracts |
FUTURES CONTRACTS TRADED ONLY ON NYMEX ACCESS®
| Cash-Settled Contracts | Expiration Position-Accountability Levels |
| WTI - Bow River Swap | 1,000 contracts |
| New York Harbor Gasoline Calendar Swap | 1,000 contracts |
| New York Harbor Heating Oil Calendar Swap | 1,000 contracts |
| New York Harbor Unleaded Gasoline vs. New York Harbor Heating Oil Swap | 1,000 contracts |
| New York Harbor Conv. Gasoline vs. New York Harbor Unleaded Gasoline Spread Swap | 1,000 contracts |
| New York Harbor LS Diesel vs. New York Harbor No. 2 Heating Oil Spread Swap | 1,000 contracts |
| Gulf Coast Gasoline vs. Gulf Coast Heat Oil Spread Swap | 1,000contracts |
| Gulf Coast Jet vs. New York Harbor No. 2 Heating Oil Spread Swap | 1,000 contracts |
| Los Angeles Jet Fuel vs. New York Harbor No. 2 Heating Oil Spread Swap | 1,000 contracts |
| Los Angeles Carb Gasoline Swap | 1,000 contracts |
| Los Angeles Carb Gasoline vs. New York Harbor Gasoline Swap | 1,000 contracts |
| Gulf Coast No. 6 Fuel 3.0% Sulfur Swap | 1,000 contracts |
| Gulf Coast No. 6 Fuel Oil Crack Swap | 1,000 contracts |
| New York Harbor Residual Fuel 1.0% Sulfur Swap | 1,000 contracts |
| New York Harbor Residual Fuel Crack Swap | 1,000 contracts |
| NYISO Zone A LBMP Swap | 1,000 contracts |
| NYISO Zone G LBMP Swap | 1,000 contracts |
| NYISO Zone J LBMP Swap | 1,000 contracts |
| MichCon Basis Swap (Platts IFERC) | 2,000 contracts |
| Permian Basis Swap (Platts IFERC) | 2,000 contracts |
| M-3 Basis Swap (Platts IFERC) | 2,000 contracts |
| TCO Basis Swap (Platts IFERC) | 2,000 contracts |
| Malin Basis Swap (NGI) | 2,000 contracts |
| PG&E Citygate Basis Swap (NGI) | 2,000 contracts |
| NGPL Texok Basis Swap (Platts IFERC) | 2,000 contracts |
| NGPL LA Basis Swap (Platts IFERC) | 2,000 contracts |
| ANR OK Basis Swap (Platts IFERC) | 2,000 contracts |
| Sumas Basis Swap | 2,000 contracts |
| NGPL Mid-Con Basis Swap (Platts IFERC) | 2,000 contracts |
| Demarc Basis Swap (Platts IFERC) | 2,000 contracts |
| Ventura Basis Swap (Platts IFERC) | 2,000 contracts |
| Dominion Basis Swap (Platts IFERC) | 2,000 contracts |
| OTC Clearing Products | |
| Physical Delivery Contracts | Expiration Position Limits |
| Louisiana Light Sweet Crude Oil | 1,000 contracts |
| West Texas Sour Crude Oil | 1,000 contracts |
| West Texas Intermediate Midland Crude Oil | 1,000 contracts |
| Mars Blend Crude Oil | 1,000 contracts |
| Mid-Columbia Electricity | 1,000 contracts |
| Palo Verde Electricity | 1,000 contracts |
| PJM Electricity | 1,000 contracts |
| Cash-Settled Contracts | Expiration Position-Accountability Levels |
| WTI Calendar Swap | 2,000 contracts |
| Dubai Crude Oil Calendar Swap | 2,000 contracts |
| U.S. Gulf Coast Unl 87 Crack Spread Calendar | 2,000 contracts |
| U.S. Gulf Coast No. 2 Crack Spread Calendar | 2,000 contracts |
| Unl 87 Up-Down Spread Calendar Swap | 2,000 contracts |
| No. 2 Up-Down Spread Calendar Swap | 2,000 contracts |
| Henry Hub Swap | 2,000 contracts |
| AECO/NIT Basis Swap | 2,000 contracts |
| Chicago Basis Swap | 2,000 contracts |
| Henry Hub Basis Swap | 2,000 contracts |
| Houston Ship Channel Basis Swap | 2,000 contracts |
| San Juan Basis Swap | 2,000 contracts |
| SoCal Basis Swap | 2,000 contracts |
| Transco Zone 6 Basis Swap | 2,000 contracts |
| NYH Unleaded Crack Calendar Swap | 2,000 contracts |
| NYH No. 2 Crack Calendar Swap | 2,000 contracts |
| Northwest Rockies Basis | 2,000 contracts |
| Panhandle Basis | 2,000 contracts |
(C) The current delivery month position limits for platinum and palladium are effective on the business day prior to the first notice day for any delivery month. No person shall maintain any position which, when combined with the number of contracts for which a delivery notice has been tendered or accepted during the delivery month, exceeds the maximum permissible current delivery month position limit for such contract.
| The current delivery month position limits for metals futures contracts are: | |
| (i) Palladium | 225 contracts. |
| (ii) Platinum | 700 contracts. |