03/13/2006
The posting of bids and offers will resume on Thursday, March 16, 2006.
This action is being taken in order to provide sufficient time for the results of today's vote to be widely disseminated among the membership, and in particular, among potential buyers and sellers.
If the GA transaction is not approved, the Membership Department will resume accepting bids and offers for NYMEX seats, in accordance with the current procedures therefore, on Thursday, March 16, 2006.
If the GA transaction is approved, NYMEX will, on Thursday, March 16th, implement new procedures for accepting and processing bids and offers and the Membership Department will maintain three separate market quotes as follows: 1) NYMEX Trading Right only; 2) NYMEX Shares only; and 3) NYMEX Trading Right Bundled with NYMEX Shares.
The details of the new procedures will be distributed in a Notice to Members and the forms that will be utilized by NYMEX for each of the aforementioned will be included in that Notice to Members. The forms will also be available at the Membership Department (located on the 4th floor of the Exchange) on Wednesday, March 15th.