Notice to Members
Notice No. 562 11/08/2006
Trade Processing/ATOM Changes
The Exchange is planning to launch the migration of COMEX electronic products from the NYMEX ACCESS® platform to the CME Globex® platform (date to be announced pending proper Regulatory and COMEX/NYMEX Member approvals). The Exchange is also planning to migrate all COMEX floor products in phases by products from the OLTE system to the NYMEX ClearPort® Trade Management System (TMS) sometime next year; while the final details are being determined, certain operational changes should be considered: Both of the new systems only utilize alpha broker codes. Since the ATOM fiscal year is December through November; (up until November 30, 2006, any data processed with alpha broker codes on the front end will be converted to numeric by the Exchange so there will not be any ATOM impact to you). Therefore, 2006 ATOM year-end tax processing will be completed using only the applicable numeric broker code. Beginning December 1, 2006 Daily and Monthly ATOM reports will no longer reflect numeric broker codes. Only alpha broker codes will be used. Also, the trade data will be more complete; to include the contract year and month, whereas currently it is summarized by commodity and account. The Exchange has arranged for the Clearing Corporation (CCORP) to automatically add clearing member brokerage rate overrides using the new alpha broker acronym thus mirroring already established brokerage rate overrides in place that use the current numeric broker codes. Rates established using the numeric broker codes will remain in the system giving clearing member firms the opportunity to compare and verify new rates. The rate overrides, using numeric broker codes will be removed automatically on behalf of the clearing member at a predetermined point in the future. Broker lists for cross referencing alpha and numeric broker codes will be made available upon request at the Trade Processing Room. Note: During the 3 day ATOM adjustment period (12/1st, 4th & 5th) for November 2006 brokerage, numeric codes should be used. Broker Daily Brokerage Recaps (DBR’s) will continue to be numeric and include your electronic Globex trades if all proper registration is in place; however because the electronic trades will be processed on the back end through TMS they will appear co-mingled with open outcry OLTE processed trades, with their respective TMS transaction ID's. Note: As mentioned above, the implementation to replace OLTE with TMS will be phased in; as we transition, the number of trades appearing on the DBR with numeric broker codes will be reduced as each TMS implemented markets trades appear with alpha codes on the Daily Trade Report. If you are interested in seeing only your electronic Globex trades, they can be viewed on screen within TMS and upon request, brokers may obtain a printed copy of their TMS based Daily Trade Report (DTR). Year-end ATOM Tax processing for fiscal year of 2007 will occur using the new alpha broker codes. One set of 1099’s based on the alpha codes will be produced for the 2007 fiscal year.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com