Notice to Members
Notice No. 274 07/08/2003
Option Expiration Process Streamlining
After a review of the current trading floor option expiration procedure, it was determined that a substantial time reduction could be achieved. This new procedure will significantly expedite the option expiration procedure conducted on the trading floor. Parallel to this improved procedure, NYMEX system changes are being developed that will substantially reduce the time that assignment notices are issued by the exchange to Clearing Members. The implementation date for these changes will be announced in the near future. The following trading floor option expiration schedule will be effective for options expiring in July 2003, starting with the August 2003 Platinum Options, expiring on July 16, 2003. OPTION EXPIRATION PROCESSING Function   Time       Market Close 2:30 p.m. Trading Card Processing Ends 2:50 p.m. Broker Trade Reports     Start Production 3:00 p.m.   Distribution Completed 3:35 p.m. Reconciliation Session     Starts 3:35 p.m.   Ends 4:15 p.m.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com