Notice to Members
Notice No. 40
01/22/2007
COMEX Division to Replace Current Trade Processing System (OLTE) with the Trade Management System (TMS)
The COMEX Division will begin phasing in the Trade Management System ("TMS") as the replacement for the COMEX On Line Trade Entry System ("OLTE") on Monday, February 12, 2007 for Copper (HG), Copper Options (HX), Aluminum (AL) and Aluminum Options (OA). Business for all other products will continue to be processed on OLTE. A future notice will soon be released to make you aware of the next phase.

The benefits for this migration are numerous, including enhanced functionality for Clerks (email, online viewing of trades from up to four previous trade dates), Brokers (online Position and Profit and Loss calculations), and Clearing Members (real-time reporting through the Cleared Trades API, additional reporting functionality, etc.), as well as providing a single Trade Management System across the entire Exchange.

Accordingly, please note the following key points:
  • COMEX Brokers will continue to use the current trading card.
  • TMS is a single sided system whereby the sell side is entered, the buy side is generated.
  • Brokers' clerks (not exchange data entry staff) will continue to perform the data entry function. The sell side will enter trades, and the buy side will check, enter execution time, and allocate their side of the trades.
  • Only alpha broker codes will be used for data entry and recognized in TMS.
  • The Training & Development department will conduct hands-on training sessions in the near future. Participants will be notified at least a week prior to their scheduled course date. Please be aware brokers and their clerks must register in order to obtain a user name and password for TMS. If you have not done so yet:
Brokers – can obtain a registration form at the Trade Processing Room on the 7th floor.
Clerks – must attend a training session.

* Note: Brokers intending to do data entry must attend a TMS training class.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com