Notice to Members

Notice No. 295
10/31/2002

Large Trader Reporting Requirements, Accountability Levels and Expiration Month Limits for the 6-month and 12-month Natural Gas Calendar Spread Options Contracts

The New York Mercantile Exchange has announced that it will begin trading the 6-Month and 12-Month Natural Gas Calendar Spread Options on November 1, 2002. The Daily Large Trader Report submitted on November 4, 2002, for the close of business on November 1, 2002, must include reportable positions for these Calendar Spread Options Contracts.

The quantity fixed for filing reports pursuant to NYMEX Rule 9.33 (Position Reporting) is 25 contracts for each Calendar Spread Options Contract. If a person controls or holds a position equal to, or greater than 25 long or short in any one option quadrant, then all such futures underlying such options, whether above the reportable level or not, shall be deemed reportable positions.

Calendar Spread Options	Options Symbols	Six Digit Codes
Natural Gas - 6 Months	(IM)	031654
Natural Gas - 12 Months	(IZ)	031655

Position Limits (Rule 9.27) Accountability Levels (Rule 9.26)
The Exchange's position limit rule has been amended to include Calendar Spread Options on a futures equivalent basis within Position Limits/Accountability Levels for the underlying Light Sweet Crude Oil, Brent Crude Oil, Natural Gas, Unleaded Gas and Heating Oil Futures Contracts, in the same manner as the Exchange's Crack Spread Options Contracts.

Should you have any questions or require any further information, please contact exchangeinfo@nymex.com