| Please be advised that an Executive Committee Resolution, which is contained below,
is still in effect for trading activity on NYMEX ACCESS® and should be read
in conjunction with the price fluctuation limit rule for a particular contract
in order to confirm the price limits applicable for that contract for trading
on NYMEX ACCESS®.
RESOLUTION OF THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS
REGARDING PRICE FLUCTUATION LIMITS FOR EXCHANGE CONTRACTS
The Executive Committee of the Board of Directors hereby
Resolves that, until further notice, the price fluctuation limit rules for
each futures contract that is listed for trading on NYMEX ACCESS® and that
has such applicable rules shall continue in effect except as amended below with
regard to market activity occurring on NYMEX ACCESS®:
- The initial and subsequent price fluctuation limits (for each Exchange futures
contract that has such limits) shall be expanded to 200% of the initial and
subsequent price fluctuation limits applicable to the first two contract months
of that futures contract that have price limits under the applicable rule.
- This expanded limit (200% of the limits for the first two months with limits)
shall be applicable to all contract months for that futures contract.
- In the event that such a price fluctuation limit is reached by a bona fide
bid at the high price fluctuation limit or a bona fide offer at the low price
fluctuation limit, trading on NYMEX ACCESS® shall be halted immediately
except as directed otherwise by the President or the President’s designee.
Following resumption of trading, the price limits in effect shall be 200%
of the limits applicable to RTH trading. In the event that a limit is touched
during the last 90 minutes of a NYMEX ACCESS® session, the market shall
be halted briefly, and price limits shall be expanded thereafter
In addition, in the event that a contract trading on NYMEX ACCESS® traded
for five minutes during the NYMEX ACCESS® session at a price fluctuation limit
applicable to the Regular Trading Hours session, then the RTH session shall open
with expanded price fluctuation limits as provided under the applicable rule,
even though no temporary cessation of trading occurred during the NYMEX ACCESS®
trading session.
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