Notice to Members
Notice No. 393
08/10/2007
Revisions to NYMEX ClearPort® Clearing for Both NYMEX and COMEX Divisions
Please be advised that effective for trade date August 20, 2007, significant enhancements to the NYMEX ClearPort® Clearing ("CPC") Trade Entry Portal (including the CPC API) will be implemented. These enhancements broadly can be characterized as the availability of additional products and trade types for electronic submission to CPC by registered parties. Please note that there will be follow-up Notices that will provide more information regarding specific rule amendments and operational enhancements. Please note additionally that it will be optional to the participant of these privately-negotiated transactions as to either submit via the trading floor or via NYMEX ClearPort® Clearing Trade Entry Portal.

The CPC enhancements include the following:
  1. Allow for CPC Trade Entry Portal submission of Exchanges of Futures for Physical ("EFP") transactions in All NYMEX Division physical delivery futures contracts which include Crude Oil (CL), Natural Gas (NG), Heating Oil (HO), and New York Harbor Gasoline Blendstock (RB) (temporarily excluding Platinum (PL), Palladium (PA), and Propane (PN). Where applicable, existing procedures for floor submission of EFPs in these products will continue. Additionally, similar to existing practice regarding Exchanges of Futures for OTC Swap ("EFS") transactions processing in the traditional NYMEX ClearPort Clearing Product Slate (non-floor or Globex trade execution), the NYMEX Customer Facilitation Desk will accommodate phoned-in EFP transactions for registered parties and will input them for an additional fee.

  2. EFP trade type will be available through the CPC Trade Entry Portal for the traditional NYMEX ClearPort Slate of Products. Again, similar to existing practice regarding EFS processing in this product grouping, the NYMEX Customer Facilitation Desk will accommodate phoned-in EFP transactions for registered parties and will input them for an additional fee.

  3. Allow for CPC Trade Entry Portal submission of EFP transactions in All COMEX Division physical delivery futures contracts, including Gold (GC), Silver (SI), Copper (HG) and Aluminum (AL). Existing procedures for floor submission of EFP transactions in these products will continue. The NYMEX Customer Facilitation Desk will accept phoned-in transactions related to registered parties and will input them for an additional fee. Please note that the program of allowing Clearing Members to fax EFP transactions to the COMEX Trade Processing Area will be terminated in conjunction with the rollout.

  4. Allow for CPC Trade Entry Portal submission of EFS transactions in All COMEX Division physical delivery futures contracts including Gold (GC), Silver (SI), Copper (HG) and Aluminum (AL). The existing EFS program/rules will be expanded to include Gold (GC) and Silver (SI) and floor submission of these trades will be supported. The NYMEX Customer Facilitation Desk will accept phoned-in transactions related to registered parties and will input them for an additional fee.

  5. Allow for CPC Trade Entry Portal submission of Block Trades in all approved NYMEX Division futures contracts (NYMEX Rule 6.21C). Please note that existing fax submission procedures related to Block Trades which are currently administered by the NYMEX Customer Facilitation Desk will be terminated in conjunction with this expansion.

  6. Provide a Block trading facility for COMEX Division futures products including: Gold (GC)-minimum size 200 lots; Silver (SI)-minimum size 200 lots; Copper (HG)-minimum size 100 lots; and Aluminum (AL)-minimum size 100 lots. Submission will be supported by CPC Trade Entry Portal and will also be supported by floor submission directly through the COMEX Trade Processing Window.

  7. Allow of Exchange of OTC Option for Exchange Traded Option ("EOO") transactions in COMEX Division Option products including Gold (OG), Silver (SO) and Copper (HX), and allow for CPC submission. This entry type will also be supported by floor submission directly through the Trade Processing Window.

  8. The CPC Trade Entry Portal has generally been modified to allow for submission of any applicable Block Trade or EFP in a "strip" fashion that can cover the full range of available contract months per product. Additionally, strips of Block Trades can now be supported by floor submission similar to EFP/EFS transactions.

  9. All applicable Fees will be summarized under separate notice. As noted previously, it will be the option of the participants to the privately-negotiated transactions as to the means of trade submission and that there will be no additional fee to Clearing Members between Floor or NYMEX ClearPort Clearing Trade Entry Portal.

  10. The CPC Trade Entry Portal has been modified to display the following information after specific contracts are selected for deal input:


    • the prior trade date's settlement price for the selected contract (or an average settlement price for a strip selection);

    • the current trade date's High and Low price across all competitive venues for the selected contract (or the overall High and Low across all contracts for a strip selection).


  11. All parties who access the CPC Trade Entry Portal or are party to a trade which is phoned into the NYMEX Customer Facilitation Desk must be registered with NYMEX and must execute the revised NYMEX CPC Electronic Customer User Agreement ("EULA") which is available on the NYMEX website.

    For registration assistance, please contact the NYMEX Customer Service desk at 1-800-438-8616 or 212-299-2670 or custcare@nymex.com.
As stated earlier, notice of specific rule amendments and procedures will follow.

Please contact the NYMEX Marketing Department at (212) 299-2301 or email NYMEXMarketing@nymex.com with general questions. Specific NYMEX contacts will be identified in the detailed Notices which will follow.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com