03/22/2006
Therefore, as of April 23, 2006, all Users of CPT will need to have FIX-based connectivity to CPT (either through the User's own certified trading application or through a Clearing Member's or ISV's certified trading application) and Clearing Members must utilize a proprietary or ISV provided credit/risk system. (After April 23, 2006, the NYMEX GUI will be available only for administrative functions of CPT users.)
NYMEX has amended the Exchange User License Agreement and its Schedules and Appendices (collectively, the "Agreement") to reflect the decommissioning of the NYMEX GUI to CPT (except for administrative functions) and the elimination of RAV for CPT. As you may recall, the Agreement consists of a main body of general terms and Schedules that pertain to specific services selected by the User. Schedule A-1 applies to Clearing Members accessing CPT via FIX connectivity; Schedule A-2 applies to Users that are not Clearing Members accessing CPT via FIX connectivity; Schedule A-3 applies to the use of the NYMEX GUI for only administrative purposes; Schedule B applies to NYMEX ClearPort® Clearing Services; Schedule C applies to "Squawk Box" Services; and Schedule D applies to "NEON" Services.
There are two versions of the Agreement, a Manual Execution Version and an Electronic Execution Version (both updated on March 10, 2006). The following describes which documents need to be executed by Clearing Members.
- Clearing Members That Utilize the Electronic Execution Version of the Agreement:
The amended Electronic Execution Version of the Agreement will be posted on the NYMEX website on March 22, 2006 and the amendments will automatically become effective on April 23, 2006. Clearing Members that (a) have executed the Electronic Execution Version; (b) already have FIX connectivity to CPT; and (c) previously chose to skip RAV, need not re-execute the Agreement or any new Schedules to maintain that connection. However, certain Clearing Members and Users may need to electronically execute certain Schedules as follows:- Users that are not Clearing Members and previously chose to use RAV will need to execute the PCM Guaranty contained in Appendix 1 to Schedule A-2;
- Clearing Members and Users that wish to continue to utilize the NYMEX GUI to CPT for administrative purposes will need to electronically execute new Schedule A-3 on the NYMEX website; and
- Clearing Members and Users that currently do not have FIX connectivity to CPT will need to obtain such FIX connectivity and will need to electronically execute Schedule A-1 (for Clearing Members) or Schedule A-2 (for Users that are not Clearing Members) as appropriate.
- Users that are not Clearing Members and previously chose to use RAV will need to execute the PCM Guaranty contained in Appendix 1 to Schedule A-2;
- Clearing Members That Have Executed the Manual Execution Version of the Agreement:
Clearing Members that have executed the Manual Execution Version of the Agreement will need to re-execute (a) the amended Manual Execution Version of the Agreement and (b) the appropriate Schedules prior to April 23, 2006.
Specifically:- Clearing Members will need to manually execute Schedule A-1;
- Clearing Members that wish to utilize the NYMEX GUI for administrative purposes will need to manually execute new Schedule A-3; and
- Clearing Members that wish to utilize the ClearPort® Clearing, Squawk Box or Neon Services will need to manually execute Schedules B, C, and D, respectively.
- Clearing Members will need to manually execute Schedule A-1;