Notice to Members
Notice No. 50
01/26/2007
Expiration Policy with New Holiday Calendar
Please be advised that the Exchange is instituting an expiration policy for existing contracts that were initially listed under old holiday assumptions. In past years, expiration calendars were set under the assumption that the Friday after Thanksgiving and selected Christmas holidays would involve four day week-ends. Since there are not expected to be any four day week-ends in the future, the following policies will be implemented for contracts that were initially listed under different holiday assumptions.
(1) All existing option expirations for both the COMEX and NYMEX divisions will remain unchanged. As new options are listed, the will have expiration schedules consistent with the new holiday calendar.

(2) For floor traded futures contracts, the terminations will remain the same for existing contracts. All look-alike contracts such as the existing Henry Hub Swap, the Henry Hub Penultimate Swap, NYMEX miNYtm energy futures, and the WTI Financial will keep their original termination dates for existing contracts. As new contracts are listed, they will incorporate the new holiday schedule assumptions.

(3) For non-floor trading, physically delivered NYMEX ClearPort® clearing futures contracts (Coal, REBCO, and Singapore 380), termination will incorporate the new holiday schedule. This will apply as well to all financially settled NYMEX ClearPort® clearing contracts that have no direct counterparts to floor traded contracts, and will terminate in accord with the new holiday schedule.

(4) All Metal futures contracts, both new and existing, will incorporate the new holiday schedule.
Please refer to the NYMEX web-site (www.nymex.com) for correct expiration schedules. As a note, the January 2008 Crude Oil futures contract will have a termination changed from December 19, 2007 to December 18, 2007. its original termination date. The termination dates for the January 2008 Financial Crude Oil (WS) and NYMEX miNYm Crude Oil (QM) will be December 17, 2007.

Please contact the NYMEX Marketing hotline at 212-299-2301, or email NymexMarketing@nymex.com with any questions. In addition, please visit nymex.com for other additional information.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com