In connection with the roll-over to the new version of TMS this weekend, the Exchange issuing this reminder to NYMEX Division Floor Members that the new version of TMS that will be in operation next week will not contain any trades entered into the old TMS system.

So it will be necessary to follow the procedures stated below in order to correct a trade next week that was entered into the old TMS system.

In a nutshell, the Exchange is implementing a simple two-step process basically involving submitting two As-Of Trade Correction forms to Exchange staff in the Trade Corrections Area.

Step 1. Adjusting Out of The Incorrect Trade As-Of the Original Trade Date

1. Provide Exchange staff with an As-Of Trade Correction Form with the trade information to be corrected in the REVERSE way in which it was executed.

Example: The original trade is for 10 contracts of CLZ03 at a price of 3125 with ABC as the buyer and JKL as the seller. So, on this first as-of form, the trade would be entered on the form as 10 contracts of CLZ03 at a price of 3125 with ABC as the seller and JKL as the buyer.

2. Of course, the proper As-Of date and time of the original trade will still need to be provided.

By entering this new trade in the New TMS, an offsetting trade to the original trade is created, thus reversing the original trade.

Step 2.
A. Enter the Trade in the Correct Order As-Of the Original Trade Date
1. Provide Exchange staff in the Trade Corrections area with a second As-Of Trade Correction Form with the corrected trade information.

Example: The original trade was for 10 contracts of CLZ03 at a price of 3125 with ABC as the buyer and JKL as the seller and the price needs to be changed. Then, on this second as-of form, submit the trade as involving 10 contracts of CLZ03 with ABC as the buyer and JKL but with the new and correct price of 3130.

2. Once again, provide the proper As-Of date and time of the original trade.

The trade is now corrected via the offsetting transactions in Step 1 and the new trade entered in step 2.