Notice to Members

Notice No. 247
06/17/2005

Two New Emissions Allowance Futures Contracts - Large Trader Reporting Requirements, Expiration Position Limits, All Month/Any One Month Position Accountability Levels, and Electronic Trading No Bust Ranges

The New York Mercantile Exchange, Inc. will launch two new emissions allowance futures contracts effective for trade date Monday, June 20, 2005.

For these products, the quantity fixed for filing reports pursuant to NYMEX Rule 9.33 (Position Reporting) is 25 contracts. If a person controls or holds a position equal to, or greater than, 25 long or short in any one month in any of these contracts, then all the contracts, whether above the reportable level or not, shall be deemed reportable positions.

For the Clearing Members that file reports pursuant to NYMEX Rule 9.33 in a machine-readable format, the Exchange commodity codes for these additional products are as follows:

Contract Name	Commodity Code

NOX Emissions Allowance Futures Contract	RN
SO₂ Emissions Allowance Futures Contract	RS

The accountability levels, pursuant to NYMEX Rule 9.26 (All Month/Any One Month Position Accountability) for the contracts are as follows

Contract Name	All Month/Any One Month Net Futures or Futures — Equivalent Position Accountability Levels

NOX Emissions Allowance Futures	2,500
SO₂ Emissions Allowance Futures	2,500

Additionally, the expiration position limits, pursuant to NYMEX Rule 9.27, for the contracts are as follows:

Contract Name	Expiration Position Limit

NOX Emissions Allowance Futures	200
SO₂ Emissions Allowance Futures	200

And lastly, the electronic trading no bust ranges, reflected in Exchange Rule 11.63, are as follows:

Contract Name	# Ticks From Market	Minimum Tick Size	$ per Tick

NOX Emissions Allowance Futures	2	25.00	250.00
SO₂ Emissions Allowance Futures	4	0.25	25.00

Should you have any questions or require any further information, please contact exchangeinfo@nymex.com