Notice to Members
Notice No. 190 04/11/2003
Electronic Trading Error Trade Procedures
Sunday, April 13, 2003, beginning at 7:00 PM, will be the first electronic trading session for the PJM Monthly Electricity contract. This notice is to remind all Electronic Traders of the NYMEX Electronic Trading Error Trade Procedures for the PJM Monthly Contract. A potential error trade must be brought to the attention of the NYMEX Customer Service Call Center (NCSCC) at 1-800-438-8616 within ten (10) minutes after the trade occurs. A PJM Monthly contract error will be subject to review by the Electronic Trading Review Committee if it is more than twelve (12) ticks away from market value. Note that one tick equals 5 cents. Therefore, a trade is subject to error trade review if it is more than 60 cents away from market value. It will be NYMEX policy that a PJM Monthly contract error will be subject to review by the Electronic Trading Review Committee if it involves a transaction for 100 or more contracts. The complete Electronic Trading Error Trade Procedures can be found in Exchange Rule 11.63 at the NYMEX website, www.nymex.com.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com