Notice to Members
Notice No. 245 06/14/2005
New York Mercantile Exchange to Launch SO(2) and NOX Emission Futures Contracts
Please be advised that the New York Mercantile Exchange, Inc., will launch SO2 and NOX allowances futures contracts which will be physically settled through the EPA Allowance Tracking System. These contracts will be listed for execution on the ClearPort® Trading and Clearing systems during regular ClearPort® hours. Contracts months will be listed for the current year plus three years out for both SO2 and NOX allowance futures contracts. These contracts will be initially listed for trading at the beginning of NYMEX trade date June 20, 2005 (i.e. at 7:00 PM the evening of calendar date June 19, 2005). The first month listed will be August 2005. Additional specifications are as follows (the terms and conditions are attached): Contract Unit 100 Tons of SO2 emission allowances 10 Tons of NOX emission allowances Minimum Tick $0.25 per Ton for SO2 futures contract $25.00 per Ton for NOX futures contract Symbol RS: For SO2 futures contract RN: For NOX futures contract Fees For Cleared $7.50 for non-members; $6.50 for members For Traded provider $5.00 paid; Opposite Side $10.00 all-inclusive Margins A Notice to Members will be released shortly announcing initial margin levels. Margins will be applied in the same manner as the margin for the other electricity contracts and will be announced in the subsequent memo.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com