01/14/2005
However, the NYMEX-Europe trading facility will close earlier than usual at 1:00 PM New York time (6:00 PM Dublin time) on Friday, January 14 and at the same time on Monday, January 17, 2005.
The Light Sweet Crude ("WTI")-Brent futures spread will be available for trading in Dublin on both days. However, because Monday is not otherwise a regular business day in New York, consistent with recent practice, the Exchange will not generate new settlement prices for that trade date for the WTI futures contract but instead will use the Exchange's settlement prices for that futures contract for Friday, January 14, 2005.
In addition, as Friday is the expiration day for the February contract month of the cash-settled Brent contract, the Exchange will provide a final settlement price for this contract month on its website on Monday. Other operational details are provided below.
- NYMEX ACCESSsm will not be open on Monday.
- The Exchange is not offering trading in any other markets.
- Brent Crude Oil trades and WTI-Brent spread trades will be processed in the normal manner on Monday.
- All pertinent trade files, SPAN files and Clearing Member Download Site reports will be made available at the normally scheduled times.
- Intra-day trade transmissions will be run in the normal fashion.
- TMS CM download functionality will be available.
- The Exchange will not perform any banking on Monday.
- The Exchange will allow Clearing Members to perform adjustments for any commodity on Monday.
- Open interest will be disseminated for NYMEX products only.
- The usual fact sheets will be created on Monday.
- Position Change Statements (PCSs) will be accepted on Monday up to 2 hours and 30 minutes after the Dublin close (which will be at 1:00 PM NY time and 6:00 PM Dublin time.
- Large trader submission also will be performed on Monday.
- Trade transfers will be performed manually for each day that the CMs were not able to perform transfers during the holiday days. Clearing Members can either ask the Clearing House to perform their transfers OR they can perform position transfers in lieu of trade transfers.
- Since Monday, January 17 is a PJM business day and a NYMEX processing day, PJM erosions will occur.
- MDR files will be transmitted in the normal fashion.
- The NYMEX.com Corporate website will be updated daily with settlement prices, highs, lows and change values.