Notice to Members
Notice No. 432 11/12/2004
Fixed Pricing of the First Three Months of Intra-Commodity Spreads
At its meeting of November 9, 2004, the Executive Committee adopted a recommendation of the Floor Committee to set the price of the earlier month of an intra-commodity spread involving one of the first three contract months. Beginning Monday, November 15, 2004, intra-commodity spreads containing a leg where one of the first three months is submitted, with a differential only, will be priced using the low price of the opening range for the earlier month. This procedure will apply to RTH trades only. Note that if Floor Traders would prefer to submit other prices for the legs, they may still do so.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com