Notice to Members
Notice No. 190 05/06/2005
Amendment to NYMEX Rule 9.27, Expiration and Current Delivery Month Position Limits or Position Accountability
Effective on May 9, 2005 for the June 2005 contract month, the expiration and current delivery month position limit has been expanded from 1,500 to 2,000 contracts for NYMEX's Light Sweet Crude Oil Futures Contract and for certain other Crude Oil Futures and Options Contracts as specified in Rule 9.27. * * * * * (Bold italics represent addition, and bold strikethrough represents deletion) Rule 9.27, Expiration and Current Delivery Month Position Limits or Position Accountability (A) No person may own or control a net long position or a net short position in the expiration or current delivery month (as defined in this Rule 9.27 for energy and metals contracts respectively) in excess of the levels set forth in this Rule 9.27. (B) The expiration position limits for energy contracts set forth below are effective on the open of trading of the last three trading days of the futures contract. The expiration position limits shall be calculated on a net futures-equivalent basis. For purposes of this rule, a Crude Oil e-miNY(sm) contract shall be deemed equivalent to .50 of a Crude Oil light sweet future cited below. A Natural Gas e-miNY(sm) shall be deemed equivalent to .50 of a Natural Gas future cited in (x) below. The expiration position limits for energy futures contracts listed below are: Futures Contracts I. Futures Contracts Listed for Open Outcry Trading Net Futures or Futures-Equivalent Expiration Position Limits Light, Sweet Crude Oil (also includes WTI Calendar Swap, NYMEX WTI-Brent Spread Calendar Swap, Crude Oil Average Price Options, and WTI Crude Oil Look-Alike Options) 1,500 2,000 contracts New York Harbor Unleaded Gasoline (also includes NY Harbor Calendar Swap, Unleaded Gasoline Average Price Options, and New York Harbor Unleaded Gasoline Look-Alike Options) 1,000 contracts New York Heating Oil (also includes NY Harbor Calendar Swap, Heating Oil Average Price Options, and New York Harbor Heating Oil Look-Alike Options) 1,000 contracts Northwest Europe Gasoil 1,000 contracts Natural Gas (also includes Henry Hub Swap, Henry Hub Natural Gas Penultimate Swap and Natural Gas Look-Alike Option Contracts) 1,000 contracts Liquefied Propane Gas 250 contracts Central Appalachian Coal 200 contracts Sections II through V of this rule remain unchanged.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com