Notice to Members
Notice No. 394
09/08/2005
New York Mercantile Exchange to Launch Three Natural Gas Basis Futures Contracts
Please be advised that the New York Mercantile Exchange, Inc., will launch trading in three natural gas futures contracts based on the differential between prices reported by Platts Inside FERC's Gas Market Report and the Exchange's Natural Gas Futures Contract. The contracts will be available on NYMEX ClearPort® Trading and Clearing for trade date Monday, September 12, 2005.

The new contracts along with the assigned product symbol for each are listed below:

Contracts
Product Symbol
 
Sonat Basis Futures Contract
SZ
FGT Zone 3 Basis Futures Contract
FP
Transco Zone 4 Basis Futures Contract
TR


All three contracts will be available for trading on NYMEX ClearPort® Trading or for submission solely for clearing as off-exchange transactions through NYMEX ClearPort® Clearing. Thirty-six (36) consecutive contract months will be listed beginning with the October 2005 contract for all locations.

Additional specifications are as follows:

Contract unit: 2,500 mmbtu
Minimum tick: $0.0025/mmbtu.
     
Fees (per side): Fees are identical to currently listed natural gas basis contracts.
     
NYMEX ClearPort® Clearing Member: $0.54/contract
Non-Member: $0.67/contract
     
NYMEX ClearPort® Trading Liquidity Provider $0.25/contract, paid
Opposite Side: $0.65/contract, all inclusive
     
Cash Settlement Member: $0.54/contract
Non-Member: $0.67/contract
     
Margins: Margins will be announced in a subsequent notice.
     
Position Reporting and Limits: All positions limits and reporting levels will be announced in a subsequent notice.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com