Notice to Members
Notice No. 492 12/20/2004
LARGE TRADER REPORTING REQUIREMENTS – NYMEX Europe Non-Holiday Details – Brent/WTI Spreads
On November 1, 2004, the New York Mercantile ("NYMEX") opened its futures trading floor in Dublin, Ireland, offering open outcry trading in Brent Crude Oil futures. Consequently, on all trading days when the Dublin trading floor is open and the New York trading floor is closed, the Exchange must continue to receive daily large trader data submissions on the night preceding all New York non-business days. For example, Friday, December 24th and Friday, December 31st are holidays, and therefore, non-business days for NYMEX in New York. However, these days are business days in Dublin and the Brent floor will remain open. Therefore, the Exchange is requiring that all Clearing Members ("CM"), Futures Commission Merchants ("FCM") and Omnibus firms ("Omnis") that submit large trader data to the Exchange must make such submissions for all business conducted for the following trade dates: Thursday, December 23rd and Thursday, December 30th for ALL CMs, FCMs and Omnis. These submissions must be submitted no later that 8:00 a.m. (EST) on Friday, December 24th and Friday, December 31st. In addition, it will be necessary for all CMs, FCMs and Omnis to again submit Large Trader information for the trade dates of Friday, December 24th and Friday, December 31st no later than 8:00 am (E.S.T) on Monday, December 27, 2004 and Monday, January 3, 2005, respectively. Further, this procedure must be followed for all subsequent holidays when New York is closed and Dublin is open. This will be somewhat frequent since most NYMEX holidays are not observed internationally.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com