Notice to Members
Notice No. 153 03/14/2007
Timely Submission of Trade Data
As you are aware, we are in the process of implementing the Trade Management System (TMS). Following each products phase in, a grace period has been allowed with regard to performance requirements for the timely submission of trade data. Please be advised that on Monday, March 19, 2007, for the implemented products the grace period will end. Therefore, the following should be considered: Top Day – Submission of Trade Data – trades will be considered on time if the trade details are entered into TMS within thirty minutes after which the trade was executed. Unacceptable levels of late trades will be cause for summary disciplinary action. As of Processing – trades greater than two days (will be changed to one day at a future date) after trade date will be cause for summary disciplinary action – both brokers involved will be considered offenders. Summary penalties will be assessed as follows: 1st Offense – verbal warning 2nd Offense – written warning Subsequent offenses – minimum $250 for a first fine, graduating in increments of $250 for each offense thereafter. Repeated failure to conform to audit trail standards may also result in the issuance of charges by the Business Conduct Committee for violation of Rule 8.55. A three month period of no incidents will refresh your history. NOTE: Gold products are scheduled to be implemented on April 2, 2007. A two week grace period will apply.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com