02/11/2004
These options contracts include the average price options on crude oil, heating oil, gasoline, and natural gas which are currently traded via open outcry, as well as cash-settled, European exercise versions of the Exchange's current energy options contracts.
The Exchange plans to list a range of options contracts shortly, which participants will be able to trade outside of the Exchange and then post to the Exchange clearinghouse through the NYMEX ClearPortsm platform, just as they can do with the futures contracts currently offered on the system.
The Exchange began offering clearing services for off-exchange transactions in May 2002.
We are delighted with the opportunity to expand our product offerings to meet the ever increasing sophistication of our market participants. The CFTC's expedited review of these contracts is indicative of its ongoing commitment to fostering market innovation. By broadening our array of financial instruments, we are able to come another step closer to offering the energy industry a single, efficient and comprehensive source for all of its trading and risk management needs.