04/01/2003
As previously mentioned, The New York Mercantile Exchange, Inc., will move its NYMEX Division coal futures contract from open outcry trading to its NYMEX ClearPortsm electronic trading platform starting the afternoon of April 3 for the April 4 trading session. The method for entering Exchange-for-Physical (EFP) transactions will be the NYMEX ClearPortsm Clearing Interface. EFP's can be submitted either via registered Intermediary (OTC Brokers) or through the NYMEX Facilitation Desk. The contact number for the Facilitation Desk is 800-438-8616.
Fees for coal futures EFP's are $.40 per contract half-turn for NYMEX Division Members and $.85 per contract half-turn for Non-Members. Trading hours will be the same as all other commodities cleared on NYMEX ClearPortsm - from 7:00 PM, Sunday, until 2:30 PM the following day and from 3:15 PM, Monday through Thursday, to 2:30 PM the following day.
Principals and OTC Brokers that are interested in the EFP of the CAPP coal contract must first register for NYMEX ClearPortsm Clearing at :
https://www.services.nymex.com/otcsvc/login.aspx