Notice to Members
Notice No. 389 10/07/2003
Exchange Will Increase Size and Clearing Fees of e-miNY(sm) Futures
The New York Mercantile Exchange, Inc., will increase the size of its e-miNYsm crude oil and natural gas futures contracts to 50% from 40% of the underlying standard size contracts with the listing of the December contracts and will increase clearing fees accordingly at that time. The e-miNYsm crude oil futures contract will increase in size to 500 barrels from 400 barrels beginning on October 20 for the October 21 trading session, while the e-miNYsm natural gas futures contract will increase to 5,000 million British thermal units (mmBtu), up from 4,000 mmBtu, beginning on October 28 for the October 29 trading session. e-miNYsm energy futures trade via the Chicago Mercantile Exchange (CME) GLOBEX® electronic trading system. For this expiration only, the November natural gas and crude oil e-miNYsm futures contracts will be allowed to expire on their normal expiration dates without the possibility of rolling or legging into the next futures month of December. Clearing fees will increase as follows: For a daily average volume of up to 200 contracts per month per product, the rate for NYMEX Division members will increase to $0.63 per contract per side from $0.50, and the fee for COMEX Division and CME members will increase to $1.03 from $0.82. For daily average volume of 201 to 750 contracts, the rate for NYMEX Division members will increase to $0.38 from $0.30; and, for COMEX Division and CME members, the fee will increase to $0.63 from $0.50. For daily average volume of 750 contracts or more, the fee for NYMEX Division members will increase to $0.15 from $0.12 and the fee for COMEX Division and CME members will increase to $0.25 from $0.20. Customer fees will increase to $1.43 from $1.14 across the board.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com