Notice to Members
Notice No. 121 03/02/2006
Amendments to NYMEX Rule 11.63 "Electronic Trading Error Trade Procedures"
The Board of Directors, at its meeting on March 1, 2006, reviewed and approved amendments to NYMEX Rule 11.63, "Electronic Trading Error Trade Procedures." These amendments include generally expanding the "No Bust Ranges (NBR)" incorporating the ability to double the NBRs with notice to the market, increasing penalties for busted or cancelled trades, and trade "adjusting" an execution which is outside of the NBR to the limits of the NBR when it is part of an implied execution. The amendments contained herein will be effective on March 6, 2006, which begins with the session on Sunday evening, March 5, 2006. Further, please be advised that as a matter of policy, the first 30 minutes of the Sunday evening NYMEX ACCESS® session will be operating on a doubled NBR until further notice. Lastly, it will be a policy that following a notice to double the NBR, the expanded NBR will be in effect for one hour. To view these amendments, please click here.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com